If you’re considering buying a franchise, one of the most important decisions you will need to make is the location of your new franchise. From the costs of the building to the accessibility for your target market, choosing the right location is crucial in the future success of your business.
Choosing the city or town where your franchise will be located should be carefully considered and researched. It may seem like a no-brainer to start your new business in the town closest to where you live, but in order to attract business, think about the population there. To attract more customers, a city with a larger population makes sense. Also look into cities that have had steady population growth and a solid economy.
In addition to the cost of the franchise itself, you also need to consider how much you will be spending on rent or a lease for that franchise’s location. Carefully weigh your budget with a location that will be easily accessible to your target market. Lower rent in an out-of-the-way place may not get noticed, where a building in a popular hot-spot may exceed your budget and may not be financially plausible.
Easy Customer Access
To attract customers, your franchise should be easy to get to. Think about whether the entrance to the property is on a main thoroughfare or in a popular strip mall. If your business is located in a place that is hard to access, customers may be deterred and go elsewhere. Easy access is an important factor to consider, and may be something that is overlooked.
Future Building Planning
A little homework into city planning and zoning can go a long way. This information is public and can be found by doing an online search for the city’s planning and zoning board. This can be beneficial knowledge because if you’ve found a location that may be average in accessibility, but the price is good and there are plans in the works for a new mall or parking lot, then it may offer better access in the near future.
When you’ve settled on a franchise location, then it’s time to pick a franchise. Consider Ori’Zaba’s Scratch Mexican Grill, an opportunity that has an established brand and great franchisee support. Contact Ori’Zaba’s to learn more!