Few businesses can get by, let alone grow, without some form of outside funding or…
Selecting the right location for your business is a critical decision that can significantly impact your success. Your site can influence everything from your customer base and revenue potential to your operational costs and growth prospects. No matter what kind of business you run, the Bensalem Economic Development Corporation (BEDC) can help you find your next home.
Whether you’re new to Bensalem or you’re already in the area and want to expand, let us know. The BEDC can facilitate your next move, saving you time, energy, and money. We can connect you to help with:
- Property inventory
- Zoning issues
- General development resources
You have nothing to lose and a lot to gain by reaching out to the BEDC to assist you in making your business bigger and better. Call us at (215) 633-3681 today.
Target Market and Customer Accessibility
What is your target market, and how will customers access your business? If you have an online business, you could be anywhere. But your location is critical to your success if you serve people, other companies, and government entities in person.
Do you go to your customers, or do they come to you? If you need foot traffic, your location must be easily accessible in an easy-to-find area where customers want to come. Ideally, customers could use private vehicles and mass transit to get there. You’ll also need enough parking to accommodate your customers.
Bensalem is in the Philadelphia suburbs, so you can attract suburban and city customers. Your business can serve the East Coast because we’re on I-95 and access the Midwest and beyond via the Pennsylvania Turnpike. Major ports in New Jersey and Maryland are also easily reached via I-95 from Bensalem.
Competition and Market Saturation
If you have many current or potential customers, being physically located near competitors may be good if there’s enough demand. Depending on what you sell, being too close to those in your industry may force you to cut prices or develop a new approach to compete.
You may have little competition in the Bensalem area. Given how much you’ll invest, it’s best to make these decisions based on market research rather than by the seat of your pants. Conversely, if there is limited competition, it could be a sign of untapped potential.
Cost and Overhead
Managing costs and overhead is essential for any business. When selecting a location, consider the initial and ongoing operating expenses. The cost of leasing or purchasing space, utilities, taxes, and any additional fees associated with the site should be factored into your decision.
If you need foot traffic, prime locations come with higher costs. But the higher price may be worth it if it gives you lots of visibility and plenty of customers come through your door.
Infrastructure and Amenities
The infrastructure and amenities available in your chosen location can significantly impact your business operations. Access to water, electricity, and internet connectivity is a must. Additionally, consider the availability of nearby amenities such as restaurants, banks, and suppliers, as these can streamline your business operations and make it more convenient for you and your customers.
Assess the quality of the infrastructure and the growth potential. Bensalem has a well-maintained road network and reliable public transportation, and our plans for future development can be a strategic advantage for long-term success.
Zoning and Regulations
Navigating zoning laws and regulations is crucial to choosing the right business location. Different areas may have zoning restrictions that dictate the types of businesses allowed and the activities that can occur there. Before finalizing your location, contact us to help you with our local authorities and zoning officials to ensure your business can operate legally at your chosen Bensalem location.
Talent Pool and Workforce Availability
Access to a skilled and dependable workforce is vital. When selecting a location, consider the availability of talent in the area. Bensalem’s proximity to universities, vocational schools, and industry-specific training centers can give your business a significant advantage in recruiting top talent.
Future Growth and Expansion
While your business’s current needs are essential, you must also consider its future growth. Will your chosen location accommodate your expansion plans? Can you secure additional space, or will you be forced to move again? Assess the site’s scalability to ensure it can support your long-term goals.
The Bensalem Economic Development Corporation is Here to Help Your Business
The BEDC is a group of volunteer business and community leaders who work to foster strategic economic development opportunities in Bensalem. Whether you are looking for a new location, need to hire the right people, or are looking for funding, grants, or loan resources, we can help.
Call us at (484) 354-0287 or email us at email@example.com to learn more.