It has frequently been said that the three most important reasons for business success are location, location, location.
In retail this is relevant but it is also relevant for service industries.
In this article we will explore some of the location factors that contribute to success in small businesses.
If you are going to lease or rent a property for a number of years, your site selection is critical to your future success.
It may be that you want to locate your business at home.
This is a huge growth industry.
All kinds of services and products are now produced by home-based businesses.
Another location is the Internet.
Can you provide your products and services through the Internet? For the small business owner that is going to rent or lease the property there are some fundamental questions to be asked.
One of the best sources for definitive answers to these questions are your target customers.
If you can climb inside your customer's mind and answer the basic question, "where is the best location?" you are well on the way to discovering the answer.
Just remember that your opinion of a good location is valid but your target customers' opinion are more important.
There is no perfect location.
Every small business is different and therefore each one has a perfect location.
Before you rush out and go and look at locations, you really need to decide what is necessary.
One of the ways of doing it is to arm yourself with a notepad and pen and write a check list and use a scale of 1 to 10 for importance for your business for each of the items on the list of factors below..

1. Target market.
   How far will people travel to get to you? Can you deliver products and services to your customers and still make a profit?
2. Transport.
   How much does your business depend on road transport, rail, airports both for incoming goods and dispatched products?
3. Neighborhood.
   What the neighborhood like? What sort of businesses are in the same street? Who is going to help pull your target customers to the area?
4. Competition.
   Do you want your competitors close to you or next door? This is not the silly question because there are plenty of examples where there are clusters of exactly the same competitors.
   These clusters cut down customer driving time and allow for comparison shopping.
   Generally speaking, traffic in these areas is high with potential customers ready to purchase so there is an advantage in being one of the many suppliers in a specific area.
   
5. Security.
   How safe is the neighborhood? Are you going to need elaborate alarm systems and a fortified workplace?
6. Restrictions.
   What sort of local rules will affect your location.
   For example, are there restrictions on the size of advertising signs? Are there limitations on your hours of doing business?
7. Parking.
   What sort of parking is available? Is it possible to keep spaces free for customers? Will they have to pay?
8. Space.
   What will happen if you suddenly want to grow your business because of demand? Is there space to expand? Will you have to move if your business gets bigger?
9. Visibility.
   What about visibility? Is this location easily visible? Can you change things to make your business more visible?

These are only some of the things which need to be considered if you are going to select premises for your existing or future business.