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Video Transcription
David Nilssen:
I’m David Nelson, co-founder and CEO of Guidant Financial. We’re best known for helping entrepreneurs behind newly created and acquired businesses to find the capital they need to grow their companies. But our mission is to increase the number of people that succeed in small business and as part of living it out. We often provide information around tools and tips that will help entrepreneurs be successful as they start buying build their businesses.
Today I want to talk about real estate because this is a really important piece of any brick and mortar business. Location can play a huge part of success. One of the things that will help you in this search is to get very clear and specific before you go out looking at real estate is that who your core customer is. It’s easy to fall in love with the deal. So knowing up front who and where your customers live and work is extremely important. And once you’re clear on those things, hire a real estate professional in your area to help you find the right location.
A real estate professional being knowledgeable in the demographics of a certain area and the population density and even the traffic patterns it’s a precustomer by your business. And also negotiate your lease which is free, so it adds a lot of value in research. But one of the strategies that I love is what I call the proximity play and that is where you decide to put your business by other businesses that have like customers. That way you can leverage their customer acquisition to bring more people into your business.
A great example of how it will work is if you own a massage studio, you might put that next to a high end fitness location where many fitness locations because they have customers that are proven to want to spend money on their health and wellness and they should spend it at your business as well. About keeping proximity to theirs, you’re not only can pick it back off their foot traffic, but you can also collaborate with to build your own business.
Real estate doesn’t have to be an arduous task. But there are things that you can do up front that set you up for successful business. Hopefully this tool, these tips will help you do that.
Small Business Success Stories
Guidant is a perfect vehicle for small businesses to get established. We would not have been able to start the brewery without them.Suzie & Todd, Noda Brewing Company; Charlotte, NC For husband and wife Todd and Suzie, the key to spending more time together was small business ownership. With Guidant’s help, the couple transformed their long-time home-brew hobby into their dream business.
[Guidant walks] you through the entire process of buying a business. They make sure you are set up for success. You are in business for yourself, but you are not by yourself.Bohnne, Decorating Den; Nashville, TN After experiencing a series of layoffs, Bohnne was ready for a career makeover. She took control of her future and embarked on an encore career as a business owner.
We wanted to start our business using our 401(k) funds, but we had no idea how to do it. Our friend told us about Guidant Financial, and so we contacted them and had a great experience.Rand & Janeel, eyeSmith Sport & Fashion Optical; Kansas City, MO After raising eight children, Rand and Janeel were ready to start a new chapter for their family. The couple put their past business experience to good use and tapped into their retirement funds to start an independent eyewear business.
The one piece of advice I would give to entrepreneurs is [to] just go for it … There’s a lot of things you have to think about, but just say ‘yes, I’m going to do it.’Richard and Jo-Anne The Parsonage Inn; Cape Cod, ME After 30 years in the airline industry, traveling the world and raising five children, Richard and Jo-Anne wanted to tackle a new adventure: business ownership. Guidant helped the couple buy an existing business so they could enjoy being their own boss for once.
