What Should Business Owners Know About Choosing a Startup Location?
May 12, 2020
If you are considering forming a startup business, you may be eager to make your dreams a reality and excited about what the future holds. Understandably, you may also be a little overwhelmed by the sheer number of issues you must address. Starting a business is likely to be one of the most challenging professional and personal endeavors you will embark on. However, it also has the potential to be one of the most rewarding experiences you ever undertake. One important consideration when starting a business is where your startup will be located. There are several important factors you should be aware of when selecting a location for your business.
Choosing the Best Location for Your Business
The location you choose for your business has the potential to make a major impact on the success of your company. Whether you are interested in an office, warehouse, retail space, or another location type, there are several factors you should consider:
Visibility, Convenience, and Accessibility: If you are starting a business that involves customers visiting your company, it is especially important to find a location that people can easily find. This may mean ensuring that the business is near public transportation such as subway systems and bus routes or it could mean choosing a locale that already has high foot traffic. Ensuring that the property is reachable by visitors with accessibility issues is another important factor to consider. If your business does not need to be accessible to customers, you may want to select a quieter setting.
Zoning Laws: Connecticut zoning ordinances may control what types of commercial enterprises are allowed in certain areas, what types of renovations are permitted, parking requirements, health and safety requirements, signage, and more. Violating zoning laws can result in legal consequences, including but not limited to fines, revocation of your operating license, and civil charges.
The Condition of the Property: It is essential that you have any potential business locations inspected for maintenance issues. Problems like structural defects, asbestos, or lead paint can present a major personal injury liability. Commercial liability insurance is not required in Connecticut, but if you do not have it, you could be held personally liable for any accidents or injuries that occur on your business property. Furthermore, the costs of repairing building or property issues can seriously impact your bottom line.
Taxes: The location you choose will likely have significant legal and financial implications. Consider the costs of property taxes, income taxes, and sales taxes when you are researching potential business locations. You may be able to take advantage of government incentives by leasing or purchasing property within certain geographical areas.
Contact a Stamford, CT Commercial and Business Lawyer
If you are ready to begin the process of starting your own business, there may be countless legal concerns you will need to navigate along the way. Whether you need assistance with purchasing or leasing commercial property, drafting business contacts, managing employee issues, or other considerations, The Law Offices of Peter V. Lathouris, LLC can help. Schedule a free and confidential consultation with our skilled Fairfield County business law attorneys by calling us today.