As a Westchester county small business owner, you’ve probably heard the conventional wisdom that says location is everything. Finding the right address for your retail shop, restaurant, or service business means taking into account the preferences of your customers. If you’re in manufacturing, you need to find a location that’s zoned appropriately, convenient to suppliers, and makes sense financially. This is not necessarily an easy endeavor.
Shopping for commercial real estate is a very different process than the one you may have gone through when you chose your home. If you’ve never selected commercial real estate before, it’s a good idea to have the assistance of a knowledgeable person, such as your experienced SCORE Westchester small business mentor, providing insights and advice along the way.
For example, a potential location’s address is hardly the only consideration you need to worry about. There’s also the state and suitability of the building in question. Is a great location really so wonderful if you have to sink thousands of dollars into renovating it into the space you need? Is a location appealing due to low rent, priced that way because it’s in a bad neighborhood your customers won’t want to enter? Is it worth paying a little more in costs each month to have access to great parking? Are there hidden costs associated with a location, such an obligation to commit to common areas’ upkeep or signage requirements, which will break your budget?
Sometimes the biggest challenge of being a small business owner is you don’t know what you don’t know. A good commercial property broker will try to provide some of this education as part of their sales process, but making sure you make smart choices is really not their #1 objective. You need someone who is on your side.
That’s where SCORE Westchester comes in. Our small business mentors would be happy to advise you in choosing a location for your new branches. This knowledge will help you make sensible, informed decisions that protect your bottom line and your brand. Set up an appointment today!