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Christian Tjoa

Location & Leasing

Site selection for your business is one of the most important decisions in the start-up process. In fact, for some businesses, location can make or break the success of the venture all together!

There are 5 key questions you should ask yourself when selecting a site:

1. How accessible is the site to your customers?

2. Is the business environment conducive to success

   1. What are the taxes like?

   2. Is the weather suitable?

   3. Is it a saturated or unsaturated business climate?

   4. Is it a high traffic area?

3. Are resources readily available?

   1. Proximity to labour supply

   2. Proximity to raw materials

4. Is the location available to lease or buy? If so, when and on what terms?

5. What are the costs associated and can you afford it?

Spend a significant amount of time investigating these questions and consider consulting the help of a real estate agent when it comes to deciding whether to lease or buy a space.

Prior to selecting your location you should also prepare a budget to ensure that you are financially prepared to invest in the location - whether buying or leasing.

For more information on location analysis, consult the Canada Business website at www.canadabusiness.ca, select Starting a Business followed by Choosing and setting up a location.

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About Christian Tjoa