Starting up a new business can be very difficult with finding the right location simultaneously being the most important and stressful part. My answer while it might seem obvious is to head to the capital. London is the financial hub for the whole world and while the focus is mainly banking, the wealth culture transcends to all sectors, so whatever your forte is there will be a market for it.
Location, as mentioned previously is the most important thing to perfect when starting up your own business, especially in London. If you are a caf, for example your best bet is to be in as central as possible or near the financial sector (bankers love coffee). You get my point, head for your target market, if you are a hairdresser that offers good student discount, head to an area with a high student population.
This article will offer a three point analysis as to why London is the perfect location for whatever business you plan to set up.
Caters for Everything
Whether your business is food, consulting or anything in between London can offer you what you need. This very contemporary and “with it” city will allow your company (if good enough) to flourish. That said, with it being the capital, the competition is much fiercer and thus in the first few years you may feel the pinch of the big city.
However, you have to stick to it, once you start to build a reputation, gain a few good reviews the custom will start increasing and with that increase you will see all the benefits of working in London.
Innovation is important, a lot of the people that work in the city have a lot more money than sense and are always looking for new ways to “enrich their lives” may it be through unique cuisine or an interesting new office chair, people will try anything once. If you have confidence in your idea then take the plunge and invest in London, 2 years down the line you will thank me.
This is what separates London from the other cities. Online innovation in the form of Search Engine Optimization can help your business like no other form of technology and thus help propel your store to stardom. Companies such as Bough SEO offer an unrivaled service that can help your website gain a great deal of online coverage, which will result in a distinct rise in your profit margin.
The cost of the service is very little compared to the growth that will result.
London is such an ethnically, mentally and physically diverse city; it can help your business form its own identity and image. Your company will very quickly become very distinctive, maybe because of the clientele you attract or the very unique service you offer.
This will then become synonymous with your brand name it is what you want. While you may feel initially quite limited and start to believe you can only cater for one type of person, you will realize this isn’t necessarily a bad thing. Being a specialist in London is a great thing and if the service you provide is high class, the custom will keep flowing.
Andrew is an author who loves to travel. He took a year out after graduating to explore the world and has written extensively about it ever since.