It depends on what the business is? It depends on what the storefront will bring to the table:
- Safety is an important issue, as is insurance, liability, corporate veil, intrusion on family members/occupants, etc and they should ALL be considered making the decision..
- Profit is an important issue - Is the storefront going to bring in the revenues such that the profit is higher with the higher expense?
- Image is an important issue - when you build your brand, how do you want people to think of you - storefront CAN be a big part of building a good image.
In business, there is rarely one answer for all occasions. The one reality in all businesses - it has to make a profit. Your question is, how do YOU do that while satisfying surrounding needs, and other restrictions.
Good answer Ed. Choosing a location for your business is one of the critical decisions that must be made as part of your business planning.
General Considerations: What are the local zoning regulations??
Will your town or city zoning allow the type of business you are planning.
Can insurance be obtained at this site??
Service businesses are different. Retail businesses look for heavy volume of passerby traffic.
Service customers determine they need a particular service, then set out to find a provider, usually with the internet
Manufacturing, You need a plant and location,
And last week our team posted an article with more advice for location choices:
It's a great read to help get things started.
When starting a new small business, a single business owner can have a lot of expenses. As the sole worker or even with a few workers you have to decided if you are going to rent/build a location for it, or work out of your house. Expense wise I would think it would be less expensive to work out of your house, but would it be safe?
So lets hear your thoughts, with a new business is it better to work out of a store front or to work from home and why?