Whatever type of recovery business you have, whether it be a cryotherapy business, a gym, a chiropractic facility, or a spa, your location matters. It can be the defining factor that separates you from others in your industry and can be the thing that pushes you to success.
Here are 5 areas in which the location of your facility can impact your business:
- Community. One of your top priorities is the satisfaction and overall wellbeing of your patients. Your location can make a huge impact here. Think of your facility as its own neighborhood. Decide the type of community you’d like to serve and ensure that your facility is located where this exists. Consider the interests and habits of those in surrounding areas before deciding on a location. Also consider the price point of your services and the average income in the area you’re seeking. You wouldn’t want to land on a facility in a lower income area if your services are on the higher end.
- Accessibility. You will want your facility to be in an area that’s easy to get to and easily discoverable. Find an area that allows you plenty of exposure and entices people to find out more about what you offer. However, you want to make sure you find something that won’t get too crowded with traffic. You likely want your patients or customers to feel relaxed and rejuvenated after leaving, but hopping in traffic could offset these results. Find a place that has enough traffic to give you exposure, but not too much that will make them feel stressed every time they visit.
- Competition. You’ll want to do plenty of research to find out about your biggest competition in your area or areas. Never open up a facility too close to your existing competition, but always be prepared to set yourself apart from any potential competition should they enter.
- Neighbors. In addition to ensuring you’re not too close to competition, you should also make sure the companies around yours are complementary to yours. For example, you may want to find an area with a health food store, a supplement store, or a smoothie bar. This can help you and all health-conscious businesses around you support each other and attract common customers. This can also help strengthen your community and even expand it beyond the walls of your facility.
- Expansion opportunities. Do you envision your business expanding within the next few years? If the answer is yes (we hope it is!), then you want to make sure your building can accommodate. That may mean finding a space attached to another that you can later purchase and combine with yours. Or that may mean finding a lot with plenty of space where you can later build on. Or maybe this just means finding a space where knocking down a few walls can help open up more space should you need it. Consider the future possibilities, but always think realistically.
Are you looking for ways to find the right location? Here are 4 questions to ask yourself to help you on your journey. We’d also love to come alongside you on this journey and help you. Fortior, our customized approach to commercial real estate, can help from site selection to construction.
We’re here to give you direction and provide assistance throughout the process. If you’re interested in learning more, contact Fortior’s president and COO, Tim Stiles, at firstname.lastname@example.org.