In or out of Town – What's Best for a New Business?

You have decided that now is the time to launch your new business and one of the most important considerations is where? Location must be carefully considered because choosing the wrong location can certainly be a costly mistake.

Good Reasons for Locating out of Town

The biggest bonus for choosing an out of town location is that you will definitely get more for your money! Out of town usually means more floor space, more storage and usually generous parking facilities – which is good for both staff and customers.

If your business will not be relying on face to face dealings with customers, out of town will be good – but do check that there is really good fast and reliable internet and mobile signals etc.

If your company will be dependent on regular stock deliveries, it is essential that any out of town premises are conveniently close to major roads and motorway intersections. Transport links are important to members of staff too so ensure that as well as by car, the premises are accessible by bus or train – or even better both!

The Bonuses of Being in Town

Choosing a good location in a bustling town is essential if your new company will be in the retail sector. You will need to check footfall for any prospective building as passing trade is always essential. There should be close-by parking facilities (free parking is even better!), being on a good bus route (if it is close to a bus stop this will prove a bonus) and preferably close to a rail link too.

The cost of renting in town is usually considerably higher and the property may well not be so generously sized as in other locations. A key question to ask yourself at this stage is whether there will be room for your business to grow as moving at a later date will be a costly and time consuming business.

Where are your competitors located? In the centre of town, you may well have one of your competitors in the next street, whilst competition is healthy, sometimes being too closely situated can have a negative impact.

Check the location in town is good. Will delivery drivers find you easily and will they be able to park to offload goods? Are the premises well located for employees commuting to work? Are they close to a main bus route? Is driving into town easy and are car parking costs reasonable?

It has to be said, that many employees prefer working in a lively town as they can use their lunch hours for shopping. Good sandwich bars, coffee shops etc close by will prove a bonus and of course an attractive pub for after works drinks works well!

Other Points to Consider

Whether you opt for in town or out, there are a number of other points to consider before you sign on the dotted line!

It is very important that your new business is secure. Insurance premiums can vary tremendously depending on the area. It is well worth checking the UK government crime report for your chosen area. This can be easily done online by inserting the postcode and information about the level of crime will be given. Run an insurance quote before you commit, just in case premiums are high or even that cover is declined.

If you are planning to open your business in an area that is new to you, check that there are plenty of people living in the vicinity with your required skills set. Contacting a local employment company is a good move and most will happily tell you the answers to your questions and offer to find you a dynamic team of staff when you are ready!

Don't be in a hurry to rent a property, take your time to ensure that in town or out that the location is ideally suited to your new venture. Leases are often decade long commitments so take some time to choose well.