Chapter 10
Location, Location, Location
Nothing focuses the mind better than the constant sight of a competitor who wants to wipe you off the map.
—Wayne Calloway
Now comes the fun stuff. Although the matters discussed in the previous section—drafting a business plan, finding the money, and so on—are necessary prerequisites to starting a successful small business, they really cannot be described as fun. But the things you will do now should be quite enjoyable. From finding the right location to outfitting the office or shop, you should take pleasure in the actual process of physically creating a business.
Not All Locations Are Created Equal
Not every business needs a great location. It depends on the type of business you have, the brand you are creating, the amount of foot traffic you require, and the amount of money you have to spend. A business in which you will be going to your customers’ locations rather than vice versa certainly does not need a terrific location—house cleaning or pool care businesses, for example. Wholesale businesses, warehouses, and factories also do not need great locations. Out-of-the-way locations can be a wonderful, inexpensive choice for many businesses. Opening in a redevelopment area, for example, may afford you tax breaks.
The first consideration then, is how important traffic will be to your business. If your business is going to be a retail store catering to the public, especially if there are going to be a lot of spur-of-the-moment drop-in customers, ...
