Choosing a location for your business is one of the fundamental building blocks an entrepreneur has to make during the initial start-up of a business venture. The location of your business can affect many aspects of how your business operates , including your total sales and how much it costs to run your business. Even businesses that are run from home and online businesses can be affected by where they are situated.
Location is of the utmost importance for businesses that sell goods and or services directly to customers at a brick and mortar establishment. Location is a key influence in the way that a business markets itself to its customers. A business with a storefront in a busy mall is more likely to attract customers with signage and displays than a business that is not located in a busy mall.
A businesses location can affect the competition that you would face from other businesses that sell similar products and services. So starting a business in an area with few direct competitions can increase the likelihood of attracting customers and your business booming.
Where your business is situated can directly influence the total cost of operation. Renting a store on a popular street or busy mall will be more expensive than opening a store in a small commercial district or residential area , but you will be paying for more foot traffic and potential customers. Sometimes it could be better for a business to open their doors in an area that is cheaper , even if that means that the total amount of customers and sales are less.
The location of your business can affect the state and local taxes that you will have to pay and the regulations that you will have to follow. Income tax and sales tax vary from one area to another.
Contact a representative from Meyersdal Square today and find the new dream location for your business. We look forward to seeing you at the best shopping centre in the south of Johannesburg!