Location, Location, Location
We know location matters, but why and in which scenarios? We most often hear this term associated with real estate. This is important because most everything else about a property can be altered besides where it is located. For a business building this is important for even more reasons. First we will look at how location affects homeowners and then we will review the benefits and drawbacks of location for your business in detail.
Physical Home Location
Most likely if you are a new homeowner you are not paying much attention to the location of your home. People usually learn to appreciate the value of location through experience. Often when you are a first time homeowner you cannot afford your dream home in your dream location so this may not be a top priority for you. However, you do have to consider resale if this is your first home you are likely going to sell it eventually and the location could affect future buyers and the resale value of your home. When you purchase a home it is also necessary to purchase home insurance. The location of your home in proximity to a fire station and fire hydrant will affect the rate of insurance you have to pay.
Location of Indoor Necessities
Aside from the physical location of a home, you could also consider the location of things inside the home. Have you ever stayed in an old hotel, and there is not a single outlet close enough for your phone charger? When buying or building a home, the location of your electrical outlets and light switches is also important. Location directly impacts our ease of life, and we know that is something highly valued in today’s world.
We often do not consider assisted living facilities as an elderly person's home because they do not own it, they are more like a guest. However, for them, their facility is their primary residence and their home for the time they are living there. Location of an elderly person’s home is especially important because they often have to visit hospitals or doctor offices and sometimes need to get there in a hurry. Looking at it from a more positive perspective, you could consider the location’s proximity to activities, events and stores that seniors could benefit from. Depending on the physical limitations of your loved one, you may also want to consider handicap accessibility in the surrounding area. If you are looking for a facility in the southeast Idaho area, The Gables of Pocatello understands the importance of location, and has chosen a great location for both their residents and business needs.
Physical Business Location
By now we have learned that location is important, but perhaps it is most important in regards to your business. The physical location of your business requires a lot of consideration. Your business needs to have adequate parking for however many people you think will regularly be trafficking your business, and how long they will be staying. Restaurants that have limited parking have a harder time remaining open. The physical location of your business is also an advertisement for your business. You need to consider organic traffic, and if the traffic your business is seeing is relevant to what your business is offering. For example, if your business is aimed toward college students, but you aren’t anywhere near the school, you are not in the best location. On the flip side, if the target audience of your business is young moms and your business is located right next door to a daycare, you are probably in a great location.
Online Business Location
The location of your business online is also important. The second page of google is practically obsolete these days. How high your business ranks on google affects how many people will visit your website and/or your business. Typically, when people need information fast and they search in google for help, they don’t look much past the first option. Along the same lines, you should choose carefully which locations you are advertising online.