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Looking for a Start-Up Location? Four Steps to Making the Best Decision

Most, if not all entrepreneurs would agree that location is a huge factor in the success of a start-up. This is especially true in a time when most consumers are all about convenience and accessibility when purchasing products or services. The scenario is no different in the Philippines. While affordability tops the list of most Filipino consumers, a good chunk of the population is also very particular about the location of businesses. In fact, there are many places around the Philippines — Cebu, Manila and Davao — with areas built specifically for businesses or industries. Hence, if you're planning a start-up, it's imperative to choose a good location, since it could spell the difference between your success and failure. To make the process easier, here are four steps you can follow:

1) Get to know your target market The first step to choosing the best business location is by knowing your target market. Since these people will be the lifeblood of your business, you have to know who they are so you'll know exactly how to cater to their needs. Let's say that you'd like to sell running gear. Firstly, you need to determine the age bracket of Filipinos who are into running. Secondly, you have to conduct a market research on the types of gear consumers are looking for. Lastly, you need to know where these consumers usually go to run or buy their gear. Once you have these information, it will be easier to look for possible locations for your business.

2) Think about business traffic Like in most countries, there are areas in the Philippines where most stores and offices are located. Aside from Manila being considered as the business centre capital of the Philippines, cities like Cebu and Davao are also offering industrial areas where you can establish your business. Moreover, it isn't hard to find a good office space in the country any more, thanks to companies like Regus Philippines, who provide units in ideal business addresses around the country. So, if you want your start-up to be easily seen by consumers, it's best that you find a location where foot traffic is good. Aside from accessibility, choosing these areas will also do a lot in building your credibility in the industry, especially since other big companies are in these locations.

3) Consider the accessibility of transportation The Philippines is one of the most unique countries in the world when it comes to transportation. Aside from cabs and buses, the country also has other unique forms of transportation like jeepneys, pedicabs and MRTs. Since a big chunk of the population relies on public transportation to take them to the places they want to go, it's very important to choose a start-up location near stations or terminals. You can also opt for an area where cabs or jeepneys usually pass so consumers can easily visit your store.

4) Take into account the services of the building First impressions are very important when you're starting a business, which is why it pays to choose a location that offers the services that you need. Aside from considering the building itself, you also need to think about parking space to ensure convenience for your customers. If you're renting out an office, it's best to choose one with services like secured parking areas, a good security team, a receptionist and of course, a consistent power and water supply. Choosing the perfect business location may sound like a really tall order, but once you found the right place to start your company, all the time, money and effort that you put into the search will surely be worthwhile.

About the Author Regus PH is a multinational company catering to clients from almost 100 countries. Their branches in the Philippines can be found not only in Manila but also in Cebu and Davao. You can follow us on Twitter Regus Asia.

 

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