How to Find the Right Workspace if You Want to Start Your Fitness & Beauty Business

Starting a fitness and beauty business can be a phenomenal experience filled with helping people feel their very best while earning a solid income and working for yourself. It can also be an incredibly difficult undertaking filled with lots of mistakes and an endless struggle to keep things profitable and growing. One of many factors that can influence whether your business thrives or dwindles is the location you choose. The following will explore a few things you might want to keep in mind to help you find the right workspace for your fitness and beauty business.

How to Find the Right Workspace if You Want to Start Your Fitness & Beauty Business
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Economic Profile

Before you start looking at properties, you want to study the economic profile of people in the different towns and cities you’re considering working in. Part of your business plan should include a customer profile, and within it, you should be able to figure out what your clients’ average household income is. You can then use this information to rule out locations that have an average household income of less than that. You want to be sure that you’re setting up in an area that has plenty of people able to afford your services.

Position Within The Neighbourhood

Once you’ve narrowed your location down to a few towns or cities, you can begin looking at neighborhoods within those locations. Accessibility is a major focus at this stage in the search process. When looking for commercial properties in a larger city, you want to be sure that public transit can get people relatively close to your door. If you’re in a smaller town, you’re looking for walkability or driveability, depending on how spaced everything is. Usually, you also want to avoid businesses that are hidden from the road as this can make your business hard to discover and hard to find should someone already know about you. Finally, you want to find properties that are accessible to all or ones that can be altered in order to be accessible.

Curbside Appeal

When you’re purchasing a building for your business, you need to understand that part of this decision involves an investment in real estate; you’re looking for a place that you can one day sell if you need to, a place that isn’t likely to depreciate but grow in value. One major component of property worth is its curbside appeal; this refers to how appealing the property is from the road. Things like landscaping, exterior siding, hardscaping, outdoor lighting, and the maintenance of the exterior all play a role in contributing to good curbside appeal. Look for places with decent curbside appeal or places where you can easily improve curbside appeal.

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Water Quality

Water is an integral part of both fitness and beauty. Because of this, you might want to look into how clean the water in the building is. You don’t need to rule out buildings with contaminated water, but you will need to figure out a plan for water purification. This is particularly important when it comes to beauty as water that is completely safe to drink can have gone through processes that make it more likely to dry out skin or frizzy hair. Learn about the ideal pH and mineral balance and figure out what you need to do to get the water into shape. Include the cost of any filtration systems in your calculations regarding whether the business is worth it.

Competitor Proximity

Sometimes being close to your competitor doesn’t harm either business as there are more than enough clients to go around. This isn’t always the case, and you shouldn’t count on it being the case. Look for properties that aren’t close to beauty and fitness competitors. This way, you’ll have a larger percentage of the market share of local people searching for businesses like yours. If you’re unable to get as far from your competitors as you want, focus on which competitors you are most differentiated from and locate yourself near those particular brands.

Room For Growth

Most businesses don’t intend to stagnate. If growth is part of your business plan, you want to be sure that the properties you look at can sustain your growth for at least a few years. It takes time to build up a customer base, and moving often can be a detriment to that process. 

The above information should have given you a few things to keep in mind when searching for a commercial property to house your business. It’s a good idea to explore all your options with a knowledgeable real estate professional as they’ll be able to let you in on the history of the area and how often businesses thrive in the neighborhood versus how often businesses struggle to stay open in a given location.

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