Choosing a suitable location truly has the power to make or break the success of your business. There are a multitude of factors that need to be taken into consideration any time you decide to relocate or think about renting office space.
Accommodating and prioritizing the needs of your employees and customers equally is a must; the problem is that those needs don’t necessarily coincide with one another and in some cases that discrepancy could end up pulling you in different directions.
This can feel a lot like trying to navigate through murky waters without a paddle. Even certain services you use on a regular basis like mail and package delivery or IT personnel need to be able to gain easy access to your new office.
Why Have a Physical Location?
There are many reasons why you may opt to have a physical location for your business, even if you operate exclusively online. Just because you are an e-commerce store doesn’t mean that you shouldn’t have a physical location, even if it is a “virtual office” where you only have a physical address with no office space.
1. A physical location can increase brand visibility
Location can influence a business’ ability to market itself, the competition it faces from businesses, the total cost of operation, taxes the business owner must pay and the regulations they must follow.
Location also matters for marketing. The importance of location goes beyond your business’ physical location and your website rank in Google search results. It extends to the placement of your advertisements.
Also, a physical location is necessary to use Google My Business, a powerful Google location tool that can boost SEO.
2. It can place your business close to amenities
If you have employees, a physical office location is almost unavoidable.
Also, perhaps you’re the type of business owner who likes to treat their employees and clients to lunch?
If this is the case, it helps to be in close proximity to useful amenities like restaurants and gyms. Free community parking, access to public transportation, and having shopping malls or complexes within close walking distance is also a huge bonus.
3. It makes you more trustworthy
Having a physical location—even if it’s just a “virtual office” address that gives you the appearance of having a physical location in Google—helps to inspire confidence among your customers and target market.
A business that has a physical location outside the internet is instantly more trustworthy because the business appears to be successful and stable.
Many people will Google the name of your business before transacting with you to gauge whether or not you are worth buying from. Having a physical location listed in Google My Business can be the difference between securing a customer or client.
4. You can use Google My Business
We have mentioned Google My Business a few times in this article, and for good reason.
A Google My Business listing works wonders for your overall SEO. Also, it provides all the information your customers may need—branding, phone numbers, and websites, etc—in a simple and easy to read format.
In addition to this, customers can leave Google reviews on your Google My Business listing which can further your authority and trustworthiness.
5. Serve a local demographic
The importance of the local demographic depends largely on where your potential clients are located and how easily accessible your business is to them.
Even if you are only running an online e-commerce store, having a local presence can still be helpful, especially if you ever intend to branch out into operating physical stores and premises in the future. It will be your local area where your first store is likely going to be opened. If you already have a good relationship with local consumers, the process will be a lot easier.
You want to be close to where your clients are, so you should conduct relevant market research to identify your target audience and find out where they live. The closer you are to your target audience and potential clients, the more easily and conveniently they can find you and this also increases the likelihood that they’ll choose your business over your competitors.