When starting a business, a location is a very important factor in your marketing. Find the right place for your business according to considerations normal for your industry.
For example, do you want to be near your competitors? Consider an arts district for example. The area itself is a destination, so art galleries are located close to each other so that they all benefit from the traffic. Or do you want to be away from your competitors? For example, grocery stores are rarely near each other. The stores require so much traffic that if they locate too close together, they may simply “cannibalize” each other.
Once you settle on a location, leases can be flexible depending on demand. Longer terms can be negotiated in exchange for considerations such as discounted rent or allowances for building out or retrofitting.
Read your lease carefully and understand the terms in it. Don’t sign until you do.
Understanding the terms, your market, and your options will help you get the optimal lease.