The web is a wonderful platform to start and grow a business, but there is much to be desired when compared to a physical location.
A physical location allows businesses to interact with customers face-to-face; it allows them to take a stake within their community. An equally important reason one would consider, when choosing a physical location, is that the web cannot possibly provide the same quality of experience in certain industries which you may have chosen (e.g. an ice cream shop or roller skating rink).
The following is a cross-selection of items and activities you may want to consider when building your presence in the physical world.
Location
As they say: “Location, location, location”.
The physical presence of your business will greatly impact its ability to succeed. You may offer an amazing product or service, but if you fail to receive foot traffic you can’t possibly expect to generate enough sales to cover costs. Likewise, over-budgeting just to acquire prime real estate in a busy district could cause strain on your business that would require cut backs during crucial times.
Outlined in GetEntrepreneurial.com’s post “8 Office Location Tips for Small Business”, we can see why the location truly does matter:
· Meeting the needs for employees and clients
· Accessibility
· The ability to show creativity (by avoiding saturated areas)
· Space for expansion
The list goes on mentioning many other factors you will find vital to physical success.
Appearance
People judge books by their cover … they’ll do the same for businesses.
The building is representative of your unique selling point (what you have to offer). Consumers can take one glance at a location and immediately make a judgment as to whether the store has what they need or desire (it may not always be correct but appearance becomes a factor).
The use of construction software will allow you to coordinate plans with the construction company, granting you access to all the necessary features you’d want when overseeing the project. In the hands of the right construction company this type of software will streamline the building process so you can launch your business in due ready fashion.
The appearance will be under your direction but there are certainly elements to consider such as:
· A “cartoonish” appearance if your product/services are aimed at young adults and children
· A hard, futuristic look if you sell cutting-edge technology solutions
· A rustic, Earthy design to compliment home décor
Pair your vision of the business with a sense of design and you will break from the blocky nature of physical businesses and stand out within the community.
Efficiency
Does the physical location of your business allow for maximum efficiency?
There are many questions to keep in mind when determining the location:
· Will employees have easy access to conduct off-site sales and marketing?
· Does my location offer high-speed connectivity?
· Does the layout of my business reduce wasteful actions during automation?
Small business efficiency goes well beyond elements such as computer programs, outsourcing, SaaS services, time management, and employee tracking. A physical location has the benefit of being an area that can inspire employees to do great things. The location can be tailored to your ideal workflow to improve production time and customer satisfaction. The location can even take on a form to reduce the hassle of completing a purchase by removing analysis paralysis.
Throughout the process of building the physical location should be a nagging voice that asks whether a particular element will aid the workflow or become a burden.
Networking
Have you taken the time to meet your potential business contacts (or competition)?
Business-to-business referrals can be a very powerful way to generate leads and sales as long as there is some form of value exchange or relevance to the customers coming through both locations.
Consider taking time, before making the decision on the location, to scout the area, meet with business owners, employees, and customers of these stores. Take notes about what you’ve found, categorize and evaluate the potential to build a business contact, and generate ideas on marketing campaigns you may introduce between the businesses.
Having a game plan going into to the community will allow you to launch with support.
Conclusion
There are, of course, many other elements of building a physical location (i.e. legal) which goes far beyond the scope of this post (and its purpose), but these four items and activities should kick-start your creativity and entrepreneurial spirit. The physical world has many great opportunities for those that want to do something different and willing to take the leap.
Article contributed by Jenna Smith