How to choose the perfect location for your business in Austin
Considering how Austin is one of the best places for startups in the US, it comes as no surprise that many small and medium-sized businesses are rushing to establish their premises here. However, many critical factors should be taken into account if you want to choose the perfect location for your business in Austin. For this reason, we are going to talk about everything you need to consider if you plan to move your business to Austin, TX.
With the end of the Covid-19 pandemic slowly approaching, many businesses are going back to work. Firstly, the type of business you run or plan to establish will influence your location choice in Austin. Most companies will find all the amenities and services their staff may need in business parks, strip malls, or commercial centers in the Austin area.
However, the costs of lease can be quite exorbitant in these areas of Austin. Hence, you will need to do your research thoroughly and make an informed decision based on the following factors.
Decide what type of location suits your business best
Most business locations fall into the following five types. However, there is an onslaught of relatively novel business models such as co-working spaces. Also, hybrid businesses split their operations into several different location types. Specifying how you want to organize your business operations should bring you closer to choosing the perfect location for your business.
Some companies, primarily startups, choose to set their premises on a residential property. There are obvious financial advantages to opting for this location, as lease costs are usually lower in residential neighborhoods.
Yet, space restrictions and accessibility might present themselves as a problem as your company expands. Hence, this choice is only tenable if you do not have a lot of employees. You might also face certain difficulties such as lack of parking space, higher commute times, and distance from cafeterias and restaurants where your staff can eat affordably.
So, if your company plans to hire more than ten employees on a long-term basis, you might have to disregard rental costs and choose to base your business in a commercial building.
Suppose you find that the usual brick-and-mortar spaces in shopping malls and busy Austin streets are too costly. In that case, you can base yourself as a retailer in the Austin-Bergstrom airport, special event stands, or any commercial ground floor space in a residential neighborhood.
Leasing costs in Austin and beyond have contributed to a noticeable rise in the number of businesses that commit to the mobile business model. So, for example, catering or commodity selling businesses can prosper without having a permanent address. A stand or a delivery-type of business allows you to move easily to and from heavy customer traffic locations.
Commercial office space
Commercial properties are specifically built and located to support all needs office-based companies may need as opposed to home businesses. This means your company will have quick access to parking, public transportation, and various surrounding amenities.
However, some commercial office complexes in Austin are not close to the central areas of the city. This makes them less adequate for businesses that depend on face-to-face interaction with clients and customers.
Consider the budget at your disposal
If you want to choose the perfect location for your business in Austin, you need to think about your finances. However, it is not only leasing that should fare into the calculation. Your budget should also account for location-related costs that are usually not covered by the lease contract or purchase price. These costs include taxing, interior renovations, utility bills, employee incentives, bonuses, etc.
Luckily, one of the reasons why so many businesses are moving to Austin is the looser tax policies aimed at supporting smaller and medium-sized businesses.
Hence, even if you run a mobile business, you are not beyond the mentioned considerations. To do business legally, make sure you have the necessary city permits to occupy the locations of your choice.
Another important budgetary consideration concerns the amount of time, money, and effort you have to invest in relocating to Austin, TX from another city or US state. Long-distance commercial relocations are typically more time-consuming and stressful in comparison to local or residential relocations. Therefore, be sure to do your research and find experienced professionals to take care of the process of your company’s relocation.
Consider your access to vendors and suppliers
Proximity and easy access to traders and suppliers that allow you to run your business are crucial. So, this is another factor that can play an important role while looking at commercial property listings. This means that you first have to contact local suppliers to find out to which part of the city they deliver the goods most readily.
Consider your brand when you choose your Austin location
Yes, your finances and access to goods are influential when choosing where to base your business in Austin. However, sometimes entrepreneurs and business owners make the mistake of overlooking the importance of the location for their business’ reputation.
Placing your main office in a suburban neighborhood might go against the professional image you want to present to the world. However, Austin has become reputed for its up-and-coming, gentrified vibe. In addition, many tech companies have established their premises in Austin in the last few years.
This means even non-central neighborhoods can work towards building an urban flavored, favorable brand appeal in Austin. However tempting, price considerations should nevertheless be secondary when you choose the perfect location for your business in Austin.
Guest Author and Regular Contributor – Joanna Lewis is an SME-oriented business operations manager and advisor. Her line of work mainly constitutes managing her clients’ growth-oriented business plans. As part of her service, her collaboration with Best Long Distance Movers helps her clients improve their financial performance by relocating their business premises.