location

Not only will your business depend on your location, but you will be "planting your business tree" there and will need to be able to maintain it for years to come. Things to keep in mind when deciding on a place to open your business:

Local Economy

Is your local area growing and building? Are the market trends good? Even if you have to locate your business further from you home, try to find a place that is building up and bringing people in. The worst thing you can do is pick a place that is in the "bad area of town" because it is less expensive. Your address can be the first thing people will ask for, and it can say a lot about your business.

Job Market

Since unemployment is low in most areas in the U.S., consider what type of employees you will need and find out if there are many in your area. The amount of money that you will have to spend to pay top dollar or in the recruiting phase could be indicators that you should locate the business in an area with a different employee pool.

Do You Love It?

It really helps if you love the community in which you work. Become "vested" in the community by joining the local Chamber of Commerce, Business Association, Visitor and Convention Bureau, City Council Committees, and other local organizations that could use your help. Why plan on retiring "one day" to some great location- why not move there now and start your dream business there? It?s like a partial early retirement!