Do you know a close relationship exists between a business location and its long-term performance? And that’s not all. A good location can help you recruit the right individuals, allowing you to get off on the right foot. How can you find a great Venture X Franchise site if you’re considering such a coworking model? Here are ideas to help you along:
Startup costs often weigh heavily on any business owner’s mind. And usually, rent is a significant portion of those costs. The ideal coworking franchise site should, therefore, be affordable.
Look for a location whose rent you can comfortably shoulder without putting too much strain on your budget. It doesn’t help to find a great location only to have a difficult time trying to pay the rent.
And even if you can meet the rental costs, you might struggle, especially at the initial stage, when your business isn’t generating much revenue. Besides, rental charges could eat into funds you could otherwise utilize to launch awareness campaigns or buy necessary office equipment.
The ideal coworking franchise should also be highly accessible by public and private transport. Such convenience makes it easier for your clients or customers to get to you. Besides, your employees will have an easy time commuting to work if the location is convenient.
If your business site is too far-flung, you risk losing out on prospective customers or top talent. Ideally, strive to locate your business in an area with high foot traffic and visibility. Plus, the area should be safe and well-lit, especially if you plan to stay open late. After all, nobody wants to work in an unsafe or seedy location.
3. Size and layout
Is the space you plan to rent sufficient for your business needs? The ideal Venture X coworking location allows for expansion. That way, you won’t have to move again in a few years when your business grows. Besides, a larger space lets you create different areas or zones, allowing your employees and customers to enjoy a little privacy when needed.
Plus, your clients have needs. Take them into consideration while scoping out a suitable location. This might entail finding ample space where you can design conference rooms, kitchen areas, event spaces, and open seating areas.
In short, getting a large facility gives you plenty of room to work with – meaning you can make the most of your investment. And when you do, you stand a better chance of getting your franchise off the ground.
Your potential customers or employees will certainly appreciate being close to amenities like restaurants, banks, and shopping malls. Besides, such amenities allow you to take care of errands or grab a quick bite in between meetings.
Does the potential site have ample parking? If not, you could lose customers who don’t want to go through the hassle of finding a space. And if the site has parking, is it free or low-cost? Again, you don’t want to lose out on customers due to high parking fees.
Other amenities may include a gym, childcare, and so on. The more amenities your potential clients and employees are likely to enjoy, the better your chances of attracting and retaining them.
5. Zoning Regulations
Find out about the zoning regulations in the area before you sign any lease. After all, you don’t want to run into legal trouble later on. For instance, some areas restrict the types of businesses operating there. Also, some property owners might not allow businesses to stay open past a certain hour. Knowing about such regulations or restrictions in advance allows you to make informed decisions about whether to proceed with renting the space. Plus, you can negotiate with the landlord to have some restrictions removed or amended before you sign on the dotted line.
6. The Right Partnerships
Do your research to find a reputable and experienced commercial real estate agent who can help you find the ideal coworking franchise space. It pays to work with such professionals as they understand the market and can eliminate the hassle of searching for suitable locations.
Besides, going it alone could be tedious and time-consuming – not an exciting prospect for any business owner with a lot on their mind. What’s more, a good real estate agent can help you negotiate the best terms for your lease agreement, saving you money in the long run.
Ultimately, you need to consider several variables when casting for the perfect coworking location. Hopefully, these ideas can help you find the ideal space. While at it, take your time to consider different sites before settling on one to ensure you get the best value for your money.