Chapter 4: How to Find the Best Location for Your Business – Guidant

If you know you’re going to operate a brick-and-mortar business, it’s never too early to consider what elements you need in a property. Even before you engage a real estate agent, you should be considering which neighborhoods make sense for your business, what your must-haves are, and what your price range is.

However, you may not want commit to a location for your business until you’ve locked down funding. It’s important to take care just in-case you’re not approved for as much funding as you expected or if something else in the process doesn’t work out. For example, if you’re purchasing a franchise, you need first to be approved for the franchise and receive all the franchisor’s building specifications before committing to a location.

Buying real estate or signing a lease agreement is a big financial commitment, and it’s not easy to back out of a deal without losing some money. Have all of your ducks in a row before signing any property paperwork.