Politics and Business

4 Things to Remember When Opening Your First Store Or Office

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Opening a store or office and starting a business is an exciting and daunting time. It is stressful, exciting, scary and a myriad of other emotions all in one place. So how can you help build success for your business and mitigate any possible issues or disasters in the future? Well here are 4 things to keep in mind when you decide you want to open your first-ever store or office.

Setting your plan and budget

Your budget is always going to be high on your priority list when considering opening a new store or office. This is for the simple reason of how can you possibly know if you can afford anything in your business if you don’t have a financial plan in place. This is especially important when applying to grants and financial aid as many establishments may require a business plan and budget to determine if you are worth loaning money to. Your plan sets your direction and gives you targets and goals to aim for which help build the long-term success of your business.

Conduct your research

Knowing as much as you possibly can about an area and how it will affect your proposed business is critical to success. Always scout out potential locations for your store. You must also know where your traffic is going to come from so you can best decide if the location is going to be any good for your type of business. Make a note of any and all potential competitors in the area as well. Try not to get bogged down with research in the long run as the only true test of success is actually opening your business, but knowing as much as you can is going to help massively with your success.

Know the location

If you plan on opening an office or a brick and mortar store you must be aware of how your location can affect visitors or customer footfall. For non-customer visitors, you don’t want to have a reputation of being very difficult to find and put them off visiting when they have to. As for a regular brick and mortar store, make sure you are opening somewhere that can only benefit your business in the long run rather than being a detriment. Obviously this does become an issue in terms of rent and cost, as the best plots are going to cost more money. Try to strike the right balance of cost and location for maximum benefit. All of this, of course, will come from your research.

Drug and alcohol testing

Drug testing can be forgotten about when starting up a business, but employees under the influence of any substance affect everyone. People can be seriously hurt or worse by those under the influence and discovering those with issues sooner rather than later can save lives. Plus in many places, mandatory testing is the law. A simple search such as “drug testing centers near me” will provide you with all of the local drug testing centers you can apply to for your business to use. You can either send your employees to the centre or hire a mobile team to come to you. Either way, they will be tested thoroughly and within the confines of the law.

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