Many factors affect how well a business does. Some are more obvious than others are. Most company owners can come up with a long list of things they believe are essential for success.
A few would include the location of their business on the list, but many would put it near the bottom. This is a shame, because this actually has a far bigger impact on how easy it is to make a profit than you may think.
Makes it easier to recruit staff
Business owners are often surprised to learn that where their headquarters are located has a significant impact on how easy it is for them to hire staff. Numerous studies show that people prefer to work for companies based in good areas, with an easy commute.
They like to be near shops, cafes and bars, so they can pick up a sandwich and a few bits and pieces, during lunch. If you need to entertain clients, being located near nice restaurants and within easy reach of good hotels is also a good idea.
Makes it easy for potential customers to reach you
Basing your firm in an area that has a good transport network will make you more accessible for customers and suppliers alike.
Good for your company image
Being located in a good area will do wonders for your company’s image and branding. Unfortunately, the opposite is true. If you are located in a rough area, you are definitely going to put clients off. A bad business address has a negative impact on your reputation and brand.
Easy access to good quality services
Most companies need a range of services. They need professionals like accountants and lawyers. If you are based in a popular business district, it will be much easier for you to find quality services.
Access to good quality office space
If you base yourself in the right area, the quality of the office space on offer will be good. There will be a lot of competition, which means that standards should be high.
You really do not want your business to be based in a poorly maintained. It is not good for your brand, and if proper support is not available, you can easily find yourself trying to run your business for days on end without access to the web.
Choose a city location if you can
If possible, base your company in a city, the bigger the better. London office space is not cheap, but for most businesses, hiring premises in the capital is actually a sound investment. Basing yourself in the UK’s capital city brings many benefits. Often you get back far more in extra sales than the additional cost of renting office space in this very busy city.
Normally, these types of locations tick all the boxes. People tend to want to work in the city. Usually, the transport network is well developed. In addition, there is a good choice of places to entertain customers. Perhaps most importantly of all you will be close to a huge pool of potential clients that are willing and able to pay premium prices.