8 Things You Have to Consider Before Choosing a Location for Your Franchise
It’s the first three rules of real estate — location, location, location! No matter how amazing your staff is, how hard you work, or how experienced you are, no business is going to succeed if it’s in a locationthat’s not aligned with its needs.
1. Demographics of the Area
Who is your ideal customer? How far do you think people are willing to travel to get to your Camp? Does the community encourage and support local businesses? These are all things you need to consider before picking a location.
2. Foot Traffic
Digital marketing has opened a world of possibilities for businesses, in terms of reaching potential customers who would otherwise never hear of a company. That being said, it hasn’t made the need for foot traffic completely obsolete.
Are you in a shopping center with other popular stores or do you have the lot to yourself? Especially seeing as how Camp Bow Wow clients have to bring their dogs and other amenities into a Camp, we suggest finding a location with plenty of available, close parking.
4. Zoning Restrictions
Understanding town ordinances and zoning restrictions is crucial if you’re opening a Camp. You should also inquire about the possibility of expanding the building in the future, should your business take off.
5. Nearby Competition
While you don’t want to set up shop in a location that’s overflowing with competing businesses, remember that competition isn’t always a bad thing. Comparison shoppers may be eager to pick you if your business offers a better service or is less expensive.
6. Previous Businesses at that Location
If this building has been home to several businesses in just a few years, that might be a sign that there’s something wrong or unappealing about this location.
7. How Old the Building is
Ensuring that a building is structurally sound is important, but it’s only one of many things you should look for in an older building. You should also ask if it’s able to be adapted for more high-tech amenities, like central air and surveillance equipment.
8. Miscellaneous Costs
While rent will likely be your biggest expense, it’s far from your only one. Make sure to ask if certain appliances, water, electricity, and any other utilities are included in rent. If they’re not, factor them into your final cost projections.
Do you want to help pet parents in your local market have a safe place to bring their dogs to rest, play and learn? If so, fill out the form below to receive a complimentary executive summary, or give us a call at (870) 600-2713.