Choosing a business location is one of the most important aspects of starting a business. For a lot of businesses, specifically those in retail, finding the right location can mean everything. It can dictate foot traffic, business atmosphere, and long-term success for your business.
Whether you’re setting up a physical office, a flexible workspace for your employees, or just a virtual office for your virtual business, your business location ultimately affects your operational costs as well as your revenue. Choosing an office site is more than just having a space to operate or a workspace—you’re deciding for your business’ future. It is one way to set your company up for success.
5 Reasons Why Office Location Can Grow Your Business
In addition to keeping your business safe from the challenges that may arise, why else should you choose the right location for your business? We’ve prepared a list of the important reasons why office location helps grow your business:
1. Increases Brand Visibility and Build an Impeccable Reputation
Brand visibility isn’t just about your ranking in Google search results or being in printed material like billboards, magazines, and many more. Having an office in a central business district where many people work and companies are situated, also gives you exposure.
Take note of your reputation, too. Your office location says a lot about you. For instance, opting to set your company at the heart of a prestigious business area like Makati City in the Philippines can create an impression about your brand being a well-established business. One that can compete with the well-known brands.
2. Easy Access for Your Customers
Customers always want things to be hassle-free. A study shows that 45% of customers would choose a retailer that provides convenience. And transportation is a part of it. Businesses that can easily be accessed no matter if it’s by car or public transportation have greater chances to get leads and retain clients.
Setting up your business where your customers are and making it more accessible or easier to find could add up to the things that can grow your business. Remember that your nearby customers are more likely to be your best clients. Because who wouldn’t want a convenient experience when choosing a reliable brand?
3. Attracts and Retains Top Talent
One of the factors that can get the attention of the best talents is the location of the business. In fact, out of the five things that job seekers look at when applying for a job, the location ranked fourth. This is mainly about convenience. If you want your business to get dedicated professionals and make them stay, you might want to keep an eye on an office location that is accessible by both private and public transportation. You probably don’t want your people to experience the hassle of going to and from their workplace.
Keep in mind that this factor is a key strategy to increase the profitability of your business. A company that can retain employees is an eye-candy not only to job seekers but also to clients. For instance, if your business is related to outsourcing, you wouldn’t want to partner with an offshoring company that has a high attrition rate. Having different people do the same task might affect the productivity and quality of your business operations.
4. Zoning Restrictions
If your company is located in a business district, you might not get many issues in case there are restrictions and new ordinances. The local government will surely take priority to businesses, considering that there are a lot of companies in their scope.
A great example of this is during the initial stage of the COVID-19 pandemic when strict community quarantine was implemented. Vehicles and even people going to known business areas didn’t experience much of a hassle as the authorities already understand that they are on their way to work.
5. The Speed of Delivery
Whatever the industry you’re in, office location has a significant impact on your business’ productivity flow. It needs to be accessible for transportation routes and can easily be found to avoid delays in deliveries, especially if your business is related to goods.
Another thing, your location could benefit you by getting lower delivery costs if you partner with suppliers near you, which isn’t impossible because of the population of companies in business areas.
How to Choose a Strategic Office Location to Grow Your Business
We have seen above that picking the most ideal office location can help your business achieve its goals. Now, how do you know if a specific area is great for your business? Here are some of the things you should consider:
- Will it attract customers and top talents?
- Is it easily accessible for your clients and other transactions?
- Will it help you connect with the wider network?
- What impact will it create on your brand?
- Will it help you keep pace with the competition?
- How can it help your business improve efficiency and productivity?
- When issues and concerns arise, will your business stay safe in the area?
- Will it help you grow your business?
In the Shift to Remote Work, Virtual Offices Might be the Answer
Some businesses don’t necessarily need an office space, especially now that the pandemic made the remote work setup the new normal. In this transition, Virtual Office can be another way to have an address that you can pin as your office location.
If your business doesn’t have a physical office as you and your team are working remotely, you are allowed to use the address of a Virtual Office service provider as your corporate address. Here, you can have your mails and parcels be delivered to their office and they will take care of how you can have it. Their staff will also gladly do the phone answering service for you.
This service allows you to save costs by charging you only for the service. It also helps create a good impression for your brand by obtaining an office address at your preferred location—the Central Business District for instance.
The idea of business location can change during challenging times like this pandemic when we switched to a work-from-home setup. You always need to be flexible. This is why strategically planning your office location is essential. It allows you to future-proof your business. It doesn’t just boil down to picking an expensive office space. A business can also grow even with a competitively-priced workspace as long as it suits the type of business you’re in.
When choosing an office location, always consider if it is the ideal area for your business to operate and grow efficiently. Create a list of options, study each of them, and pick the one you think will benefit your business the most.
Pick the Right Spot for Your Business
If you are looking for a convenient office area, ARCH Serviced Offices is located at the heart of Makati Central Business District. Our private offices have everything you need to definitely make your own space. It allows you to get all the perks of working in a full-fledged office.
If you want a business address, but don’t necessarily need a workspace, we also provide Virtual Office service. We will take care of mails and parcels as well as calls and voicemails. You can also get access to our innovative meeting rooms.
Get in touch with us to explore our services with flexible terms. We will be more than happy to help you get the most ideal workspace solution that can grow your business.