Before starting a shopping spree for a business space for your pawnshop, one must have a clear picture of what they like to have, what the place must have and must also consider the cost. Planning and determining can require time, but this is both exciting and stressful. However, it is an essential matter that needs attention. Having a poor choice of location can affect the startup’s sales, especially for pawnshop stores.
Always think ahead and consider the important location points.
Point 1: Type of Location
Before choosing the type of place, one must consider the business type that they have. However, there are types of space where they can stretch their creative ideas. And, also to mix and match the area while coming up to the final decision.
When finding a business store location, It’s also essential to be visible in the google search engine. You should list your business in GMB or Google My Business and the Google Map location should be accurate so that when potential customers search in a pawn shop near me, your store will be part of the results. Thus making your store more visible and accessible to potential clients nearby.
This location probably is the favorite place for startup entrepreneurs nowadays. Then later on, when the business grows they move to commercial spaces, though some of them don’t have any thoughts of moving. The positive side of running a business at home is that they can save time and money.
Someone can run their businesses in a spare room or their garage. And for the downside, the business has less space to grow because of the limited space for meeting clients and accommodating employees.
This type of location is versatile. It can vary in different shapes and sizes. They are always in bazaars, shopping centers, airports or even shopping districts. Retail space is also available in transportation facilities and even sports stadiums.
This kind of location depends on the business type. Either it is for the general public or just for having services for a targeted market. They can use a car, truck or van to operate the business.
Commercial spaces are the usual practical choices for startup businesses. Usually, the location of commercial offices is in a suburban area, where there are a lot of different types of businesses.
Commercial space is an excellent choice for any business. One must work on their creative juices to successfully maximize the space in renting out a commercial space.
If the business involves manufacturing and heavy distribution, then a plant or warehouse facility is suitable. Startups rarely invest large amounts for industrial business locations, because some of the industrial companies require big spaces.
Some need a showroom. If the business is in line to manufacturing, there are still choices of renting a commercial building that will meet the owner’s needs.
Point 2: PICKING A PLACE
If they have settled in choosing the potential locations, the real horror is coming. To come up with a decision, make sure that it fits both the business and property. A startup entrepreneur will take at least three to six months to choose the right location.
Here are some of the things that they considered before signing a lease:
After choosing the location, the actual expenditures must also be well-thought. Besides paying the monthly rent, know if the other expenses are billed separately like utility bills, taxes, and repairs. Make sure to know all the charges, from the cost of the rented space up to the possible cost of maintenance and repairs. If possible, ask a contractor to estimate the possible cost for any revisions for space.
The visibility of the store is important, the more people see it, the better. Make sure that it lands in a bigger space in a commercial building’s directory sign. It can compensate a startup business even if it has poor marketing strategies.
Customers should see that the store is both welcoming and open. Sometimes, it takes more than just a sign – maybe they need to see past through the doors.
Other businesses in the area
Having an established store attracts customers, and they might also attract prospects to all the nearby stores. For some stores that are a bit classy, it usually requires high-end aesthetics and posh products.
Also, ensure that there are other establishments like schools, colleges, hospitals and other business complexes located near the store. They will be the future customers when the company is finally operating.
Possible customers can just be a passerby. If considering the location, an entrepreneur might want to look out for pedestrians and traffic lights. Both places exceed in having a lot of people and cars from time to time. The visibility of the store increases because the passerby is a prospect.
Make sure to have enough space for cars to park and to drive in and out of the property. It will have an advantage to the business.
Choosing a location for a business can be tedious and exciting. Having to choose the right location can help easing up the expenses and increase the sales. If done right, there will be fewer worries for the business in the future.