Selecting a new site for your business?
If so, don’t write off the concept of “location, location, location” as a cliche for real estate professionals. Your business location can have serious implications on your ability to minimize costs, avoid risks, attract employees (and in retail, customers), and grow.
However, business site selection is more complex than picking an attractive lease in a buzzworthy zip code. Without the right process in place, what looks good on paper may be bad for your business.
To secure your best, next location, your site selection process must consider these factors:
Learn about the factors and principles of site selection, how to choose a business site selection successfully, and how Maptive’s robust GIS mapping software can streamline the site selection process.
Simplify your site selection process. Start your free 10 day trial of Maptive today.
Site selection is the process of combining financial, demographic, and geospatial research and analysis to choose the optimal location for your business.
There are two main types of site selection for businesses:
In site selection, research is everything. The more valuable data you have, the smarter, more-informed business location decisions you can make.
However, research alone can quickly become abstract. And the massive volumes of spreadsheet data you’ll need for sound decision making can be very overwhelming.
That’s why most teams conducting business site selection trust GIS software like Maptive to transform their troves of business location data into practical, intuitive, and actionable data visualization maps in seconds. Try Maptive free for 10 days. No credit card required.
Site selection without the guidance of principles is rudderless—and puts your business at risk of inefficiency, unnecessary expenses, and damaging decisions. Trust these five principles:
Data mapping can help you easily extract a shortlist of high-upside potential business locations. And Maptive’s wide range of powerful features can help you hone in on your best choice. Schedule your free live demo to get guidance, tips and tricks on site selection for your business.
There’s no substitution for a clear process. Here’s how to choose a business location, from initial steps and what to research all the way through getting the best out of your data.
In site selection, there are too many variables—and too high of stakes—to go it alone. Put together a site selection team of key players from your executive, operations, HR, and financial departments. Even site selection consultants, if need be.
What is the purpose of your new business site? Is it a retail or corporate location? What are your parameters? Budget? How will you measure the site’s success?
Once you have your criteria in place, collect initial data. Internal business data, external commercial real estate data, and United States Census and Demographics data—available to you in an instant with Maptive—each give your site selection map valuable depth. Then, use Maptive’s Filter Tool to hone in on your ideal target areas.
Now that you have target areas in mind, conduct comprehensive research on every important factor that may impact a site’s viability. Collect data on:
Simply upload your Excel spreadsheet, Google Sheet, CRM, or other .CSV data—or copy-and-paste or manually enter it—into Maptive, and the software will handle the heavy lifting and analysis for you. Maptive makes it easy to pick your best options in a matter of minutes!
Visit your best potential site selections, conduct due diligence, make a decision, and negotiate your lease or purchase price. You now have your brand new business location!
While the process is far from easy, Maptive helps businesses choose office locations by making the most tedious and time-consuming steps as simple as a click of a button. Ready to choose your business location? Start your free, no-risk 10 day trial of Maptive now.
Wholesale & Distribution: supply chain logistics between distribution centers, suppliers, and clients.
Real Estate: current market conditions and outlook, rental occupancy rates, real estate sales figures, and street-by-street insights for real estate brokers
Private Infrastructure: existing electric, fiber optics, water and sewer systems, and government contracts and spending data.
Airports: local domestic and international travel statistics, regional competition, access to interstates and major highways, and airline networks.
Restaurant Chains & Retailers: local business climate, labor availability, access to suppliers, and local taxes.
Want to gain insight on factors specific to your business and industry? Brainstorm ideas and learn solutions with our rockstar support team. Schedule your live demo now.
With its industry-leading range of enterprise-level and user-friendly features, Maptive makes it easy to choose your best business location possible. Here are some (of many) examples.
Your site selection map should be rich with layers of important data. However, that poses another question: how can you intuitively read so much information? With Maptive’s Grouping Tools: simply color and customize your markers by category, then filter them for easy retrieval.
No business location map is complete without demographic data. With Maptive, you get instant access to the latest U.S. Census Demographic Data, so you can get deeper insights on your chosen location’s population density, median household income, education, and more.
With hot spot heat maps available at your fingertips, you can identify where you’re succeeding—and where you need to open locations. All from your spreadsheet data. Visualize and track your concentrations of data, identify hot spots, and discover your cold spots.
A bad weather system can set your business back in an instant. Business-shattering factors can creep up on you with climate change. Identify geographic and environmental risks easily with rich satellite imagery sourced via Google Maps.
When it comes to employees, customers, and delivery trucks, time and stress behind the wheel can have an outsized impact on your bottom line. Maptive’s dynamic duo of driving intelligence tools—the Driving Radius Maps and Drive Time Polygon Tools—can help you track how far you can reach, where you can go, and where your business should be—with real-time data.
No credit card required.