“Location, location, location” – it’s a commonly used mantra in the real estate business, but the quote also applies to business in general. Even as we transition to an online world with digitized experiences, nothing beats a physical presence. Businesses live or die based on their physical location, so it’s worth investing the time and money in a place fit for your brand.
Reasons for choosing a business location
You may be curious- why should my brand be concerned about a physical location? Aren’t sales or advertising (or some other business discipline) more important? Here are a few considerations:
Businesses with a physical office, store, or building benefit from greater visibility and traffic. It makes sense- when you’re walking through a busy street, you’re more likely to stop into a store than to go to a website after reading a business card or flyer.
Meeting Place for Business
If your business has clients that sometimes require in-person meetings (or even conference calls), the brand will look much more professional in a meeting room than a local coffee shop. Even if most of your meetings are conducted through video conferences, a room with projection and conference equipment carries a lot more integrity and respectability than a bedroom or home office.
If you’ve ever managed a team of remote workers or freelancers, you know firsthand how difficult it can be to stay on the same page and still get things done. In a shared office space, teams can communicate in person, leading to more direct communication that email or phone calls can lack. For example, a coworking office features several whiteboard tables, which are great for collaborating on projects or brainstorming ideas visually. An environment full of hardworking creatives and professionals can be highly motivating, and even lead to more networking opportunities. Check out a related post on the topic: How open plan offices impact productivity.
Which would you prefer- a brand with both physical and online presence, or a brand with just online presence? The truth is anyone can start a website and social media account these days, but getting the necessary permits for a physical location requires a little maturity. Businesses with an office have a certain prestige and professionalism around their brand. An office suggests to both customers and employees that the brand generates stable work and income, and that the brand is serious about achieving their overarching mission.
Physical Mail Delivery
Some businesses get letters, packages, and other deliveries for their line of work- whether its supplies, new product stock, or marketing material. It is much better to have mail sent to a business address than fill up the home living room.
Search Engine Optimization (SEO)
Who said that physical locations don’t have an online benefit? Brands that have a real address can verify their listings on Google, allowing their location to show up on Google Maps and local search results.
Factors to consider in finding a location
Now you’re familiar with why you should have a physical business location, which factors actually make a great location? Here are a few starting points.
Does it fit the brand’s goals? Offices are only worth it if it contributes to your business’s overall objectives. There’s no use looking for a location if you have a startup that first seeks to make an initial revenue. Some offices have zoning requirements- make sure your business is allowed first!
Does it attract or engage your customers? Remember that at the end of the day, the business is for the customer. Find a space that contributes towards an overall positive customer experience.
Does it work for your team? Don’t forget about your other teammates or employees! If you expect them at the business location, find a solution that’s both convenient and accessible.
Does it fit the business’s budget? An office space can be a considerable investment. Startups should keep their finances in order before committing to a monthly or yearly rent. For small or medium-sized businesses, Level Office offers multiple cost-effective alternatives to office solutions.
Is the location connected? Hi-speed internet has become a necessity for many businesses. Your office space should cater to your connectivity and wiring needs.
Is the location reputable? Don’t just sign with anyone. Ensure your office provider has a good and clean track record, recognizable across the nation.
Is the location safe? Restricted access, video surveillance, and brightly lit halls help make the place safer, which in turn makes your team and your clients feel more comfortable.
Is the location in an ideal area? Take Level Office’s Kansas City location for example. Its location in the historically significant Kessler Building places it at the heart of the city’s Power and Light District, a hub for both business and entertainment.
Does the location have additional amenities? Coffee machines, kitchens, bike storage, showers, and beer on tap may not be requirements, but they make all the difference between a plain office and an office you can look forward to each day.
The Coworking Solution
For many of these considerations, the best route is to find a coworking space provider, like Novel Coworking. Coworking spaces are able to offer the same services and space that traditional offices do, but at a reduced rate and with far more amenities and options. Whether you’re a two-year-old startup or multinational organization, there’s a coworking solution for every business.
Want to read more? Learn what businesses should look for in a coworking space and the importance of a plug-and-play office.
Follow Novel Coworking’s blog today for more tips and guides for business owners.