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There are a few things that you need to understand before you can choose the best location for your business.

Understand the nature of your business.
Does your business rely on passing foot-traffic and impulse sales? If so, look for a highly visible location, with plenty of foot-traffic. Or is yours is the sort of specialist business that customers would travel miles out of their way for?

Understand your budget.
Rent or mortgage repayments need to be paid whether your business is turning a profit or not. If your business is highly seasonal this is a particular consideration.

Understand your customers.
If you are selling disability aids, you shouldn't situate your shop at the top of a narrow flight of spiral stairs. If customers are bringing things to you (such as pictures for framing or appliances for repair) they are most likely to drive, thus parking is a key consideration.

Understand your zoning.
If you think you've found the perfect building, check its zoning. Are there any restrictions on this area that would stop you from doing business how you'd like to or prevent opportunities in the future?

Understand where your home is.
When you are working for yourself, you will probably spend as much after hours time at the business as you do at home. Is it close enough to your home to get home late at night? Is the neighborhood a place you'd like to spend this much time?

At the end of the day, choosing a location for your business is more complicated than choosing where to live. You not only want to be comfortable and safe there but you want it to aid your commercial success. Think carefully about how you can achieve this and don't rush into anything. You'll know the right place when you see it.

Learn more about this author, Jacqueline O'Donnell.
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