As we discussed in part one of our post on finding a quality business site in the greater Los Angeles area, location is one of the most pivotal factors in the success of your new business. The location that you choose can make or break a business, regardless of how well thought out its business plan is because you can’t make money if the consumer isn’t willing to come to your storefront.
We also discussed in part one of our conversations what we, here at the Commercial Finance Group, can do to help a small- to medium-size business grow. Our asset-based lending in Los Angeles can help an up-and-coming business gain access to the working capital that it needs to flourish, as well as kick off the opening process with small business lending.
Before we dive back into our discussion on how to find the perfect location for your small- to medium-sized business, we would like to re-emphasize that the Commercial Finance Group is here to help. If you have any questions about our asset-based lending, small business lending, or our commercial loans, please contact us or apply online today!
Things To Consider When Searching for The Perfect Business Location
In part two of our business location discussion, we are going to review some key tips that you should keep in mind when you are searching for your perfect storefront location.
Local Competition
If you are looking for a business location, there are a multitude of factors that you should consider, including the potential for local competition, and the level of success that your nearby competitors are experiencing. While yes, a successful local competitor may be an indication of a successful market, you must also take into account that you would be sharing, and competing for, that market with your competitors. While setting up shop near a competitor is a gamble, a good business plan will generate plenty of business.
Additionally, if you can find an equally as appealing location that doesn’t have much competition, you can establish your business in an “untapped” marketplace. So be sure to do plenty of research before settling on the first location that you see.
While we can’t help you find your ideal business location, we can help you build it up with working capital. Contact us today to speak with our talented staff about asset-based loans, commercial loans, and business loans to see what the best course of action is for your new, or growing, business.
Visibility From High-Traffic Areas
The best kind of advertisement that your business could possibly have is the advertisement that you don’t have to pay for. Of course, by that, we mean the sign on the front of your storefront. Save money on advertisements like billboards and signage by looking for business locations that have high visibility from either the street or high-traffic walking areas like a city plaza or shopping mall. That being said, it would also be beneficial to find a location where you could strategically place signage on a storefront.
If you have already have found a storefront that features awesome visibility but you don’t have the working capital to create a one of a kind storefront sign, consider a small business loan with us here at the Commercial Finance Group. Apply online today to help yourself build a better business tomorrow.
Amenities Offered
If you’ve even just begun to dabble in the search for a new business location, we don’t have to tell you that every building is different, with different amenities both inside and out. When you are examining the inside of the building, look for any amenities that you need to operate your business properly, whether that be power outlets, quality lighting, restrooms, kitchens, or HVAC capabilities. Likewise, when you look at the outside, look at the storefront visibility, window size, door size, and overall curb appeal.
When you find the perfect property, you’ll know. It will have all, or most of, the amenities that you need to successfully operate your new business. And yes, sometimes not all of the boxes can get checked off, but you can always add additional amenities after the fact. With asset-based lending, commercial loans, or loans for a small business from the Commercial Finance Group, you can make the small tweaks that you need, bettering your business location long term.
Personal Taste
The most overlooked aspect of choosing a business location is your personal allure to it, after all, it is for you. Consider things like how far of a commute from your home the location is, if you wouldn’t mind spending 40 plus hours a week there, if its close to public transportation for your employees and customers, and most important of all if you could see your business inhabiting the building.
If you find a location that checks all of your boxes, don’t hesitate to pounce on it, as the Los Angeles real estate market is fast paced and quality properties don’t stay vacant for long. If you begin to need access to working capital once you move in and have a quality business plan, contact us at the Commercial Finance Group to discuss your options. Whether it be a small business loan, commercial loan, or asset-based loan, we are happy to help all qualified businesses acquire working capital so that they may be able to further grow.
Let The Commercial Finance Group Help Your Business Grow
Here at the Commercial Finance Group, we specialize in helping small to medium-sized businesses access working capital so they may efficiently grow without being lured into a debt trap. We provide multiple lending programs, including asset-based financing for established businesses, commercial financing for established income properties, and small business lending to help companies both starting and previously established.
Our lending programs exist because they are proven to be successful, so if you find yourself and your business to be needing an extra “push” from working capital, contact us today. At Corporate Finance Group, we truly believe that we have the best business loans, and if you are willing to see how far commercial lending can help your business, apply online today.
Contact us for any questions that you may have about our lending programs.
