Location, location, location!

Where you do business can be just as important as how you do business.

Carefully consider where you set up. It can be one of the most expensive overheads, and the costs of relocating can be prohibitive.

The location checklist

1. Know the preferred location and type of premises you need for your business.
2. Compare different locations and premises.
3. Check whether your proposed location has easy access to all the facilities you need.
4. Check whether your preferred location gives you an advantage over similar businesses.
5. Be aware of security measures commonly adopted by others in your industry. Make sure the location and premises you choose are secure.
6. Discuss with a solicitor the provisions of any lease offered to you.

Location factors to consider

There are many factors influencing your decision on where to locate your business, including:

• the State or Territory to locate in
• the region to locate in
• the suburb to locate in.

Types of premises

There is a variety of premises that may be suitable for your business, including the following.

Incubators

These facilitate the development of a business and nurture its growth. They can provide office space, equipment, business support, assistance and contacts. Incubators are a great place for access to experienced mentors.

Serviced offices

Taking out a lease in a serviced office lets you share office facilities, such as phones, faxes, computer networks, email, and cleaning services. For serviced offices throughout Queensland, look in the Yellow Pages.

Warehouses

When choosing a warehouse find out if you are able to transport your products easily and cheaply. Ask yourself if the warehouse can cater to the future needs of your business. Contact commercial real estate agents for information on warehouses in your chosen suburb.

Home-based business

Information and communication systems and equipment, such as personal computers, faxes, email, the internet and mobile phones have made it easy to run a home-based business.

With a home-based business you can be closer to your family. It's also extremely economical and keeps your overheads low at the start-up stage. You save time on travelling and can enjoy a more relaxed and flexible lifestyle.