Location is still the driving force in Real Estate and that will most likely never change. Neighborhood’s once neglected and overlooked are now many of the premier locations in all the land. Just ask our friends throughout Bergen, Essex, Passaic and Hudson County, NJ where easy access to “The City” and five get me out of here Interstates have created higher demand for fewer homes and land parcels. The rule of location applies to any use of Real Estate- Residential, Commercial, Industrial, Vacation Rental and more.
When it comes to running a business in a commercial space, finding a property which meet your business needs is key to greater operational efficiency, lower operating costs and paying the right price on a lease or building purchase.
Considerations include; foot traffic, parking, maximum capacity, floor plan, zoning and more. If you do not require parking , well then why pay for a huge lot? If foot traffic is important, a large commercial building located in the darkness, on the edge of town will not work. You know, it’s always a good idea to speak with a Real Estate professional such as George Lanzaro – that’s me, or an organization such as FranGrow which is a cooperative of qualified vendors in the Franchise Growth space when considering a real estate or business lease and purchases. Doesn’t hurt to reach out and become educated about the market and identifying your true needs from a location.
Listen to the Franchise Money Maker Podcast Series to learn more about franchising and operating a business . In this episode of the Franchise Money Maker Podcast Series Little Scoops founders Michelle Violetto and Tanya Ehrlich talk about the importance of location.