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Strategic facility planning: an overview, the process and importance

Home » Insights » Consulting » Strategic facility planning: an overview, the process and importance

Growth is the objective for most businesses. And while you plan for that growth, you need to consider, among other factors, whether you have the space to expand your business. Strategic facility planning helps organizations set the strategic direction for all further planning activities.

What is Strategic Facility Planning?

Strategic facility planning (SFP) is a structured planning process that helps organizations align their short and long-term facility plans with their business plans. The SFP process typically includes the entire real estate (network or facility) portfolio, although it can also focus on a single aspect of the plan. It is a data-driven, defensible, high-level look at what facilities and strategic solutions are needed for an organization to achieve its business goals.

Strategic facility planning is the first phase of the overarching facility planning process.

The facility planning process includes three steps:

• Strategic facility planning (SFP): a two-to-ten-year plan that defines the facility needs, at a high level, for an organization to successfully achieve their business plan.
• Master or campus planning (MP): a physical plan that organizes a site or campus, the facility and infrastructure that is needed to implement the SFP.
• Tactical facility planning: the execution of the master plan with detailed programming and conceptual design solutions. Tactical planning also includes the day-to-day workspace planning that is needed for an organization to operate.

Many organizations use “master plan” as an all-encompassing term that groups together the strategic facility plan and master plan. But there are differences between the two and it’s important to recognize them as separate steps in the planning process.

The SFP process answers questions and identifies the facility requirements needed to meet your short and long-term goals. With the right people and data, the SFP process can quickly and accurately look at an organization’s facility demands, gaps, and help guide an organization toward a more efficient and cost-effective facility strategy to inform the development of a full master plan.

Translating the business plan to a facility plan

The first objective of strategic facility planning is to clearly define the facility implications of your business plan for both the near and long term.  For most SFPs a near-term planning horizon is 3-5 years, and the long term is 6-10+ years.

For some organizations, the business plan is simple. They want to grow by a certain percent per year with accompanying revenue, expenses, and profit goals. For others, the business plan also includes strategies to respond to changing markets or demographics, a change in its distribution network, the adoption of new technologies, or perhaps potential mergers and acquisitions. For a complex organization, the list of business drivers can be quite extensive.

Given that the cost of facilities is predictably the second largest expense line item for most organizations (payroll is the number one expense), it would serve any organization well to not only have a robust business plan but to also have a dynamic strategic facility plan to understand and predict its facility expenses as the business changes.

Kicking off the strategic facility plan process

The SFP kick-off meeting must focus on communicating the business goals, assumptions to be made, and questions that need to be answered.

The SFP process begins with a review of the business plan. Some of the most important points to discuss include goals for growth, pipeline of products that will trigger that growth, as well as any other business drivers, growth initiatives and/or operational changes that are envisioned for the planning horizon (typically 3-10 years). The goal is to get a comprehensive picture of the business and where you want to take it in as much detail as necessary to be able to lay out the facility implications.

Who is involved in this initial SFP meeting? C-suite executives and directors/managers that can speak to the organization’s current and future business and operations, and those empowered to make appropriate business, operations, and facility assumptions.

DOWNLOAD THE PDF

downloadable strategic facility planning checklist for biopharma

Making assumptions

Once you have laid out your organization’s business and operational plans, the next step is to clearly define what assumptions are being made about the facilities and operations. For example, an organization with a large manufacturing operation may do all their quality control testing activities in-house. If the organization is planning to grow manufacturing, it stands to reason that the supporting testing operations may also need to grow, unless excess testing capacity currently exists (more on that later).

Alternatively, these types of testing services can be outsourced. So, what is the assumption for the future? Testing in-house or outsourced? Does a deeper study need to be triggered to compare the costs? During the kick-off meeting, develop a list of assumptions, determine if those assumptions need to be challenged, and identify potential follow-up actions. This will ultimately inform the strategic facility plan.

Here is the key – as the SFP is revisited annually (ideally), these assumptions may need to change. And that is OK. Having a comprehensive list of the assumptions at the forefront of the SFP deliverable is critical to understanding the SFP findings and recommendations, and it allows the SFP to evolve and change with changes to the business.

SFP answers strategic questions

Given that facilities are a major cost item on the expense side of the P&L, many organizations leverage the SFP process to answer strategic questions about their growth.

• For example, if an organization has an urgent need to add expand its product line to serve a new market sector, they may use the SFP process to help them answer the question, “What is the quickest, most cost-effective way to bring on new warehouse space?”  
• In the case of our manufacturing/testing example, the client may have limited lab capacity so the question to be answered might be, “ How much can we increase our manufacturing before we need new lab space?” typically followed by, “How much additional lab space is needed to support the 10-year manufacturing demand? ”
• With the rapid global spread of COVID-19, many organizations are now asking the question, “ How do I need to adjust my facilities for a pandemic?”

Identifying the facility demand for the entire portfolio

While organizations often focus on the revenue-producing part of their business and facilities (i.e., manufacturing), a good strategic facility plan should evaluate the entire real estate and space portfolio to identify the entire facility demand implicated by the business plan . To continue building on our example from above, an increase in manufacturing will likely trigger the need for additional warehouse space and even offices—beyond those additional testing labs.

Developing a baseline for SFP with data-driven analytics

While the SFP process identifies what facilities are needed for the organization to meet its goals and objectives of the business plan, this can only start with a comprehensive understanding of your current facilities’ capacity and utilization. Work with the day-to-day operational managers to understand how well the existing facilities are operating and where opportunities and limitations currently exist for adding capacity and/or increasing utilization. In other words, you need to know what you have before you can define what you need.

In the case where an organization is completely new and has no existing facilities, CRB leverages benchmarks from other similar facilities to make assumptions regarding space utilization, capacity, and facility demand. In a nutshell, the SFP process lays out the facility supply, facility demand, and facility gaps for the organization for the specified planning horizon.

Leverage the organization’s space management data

In addition to talking with managers and compiling operational data, leverage a space management tool for SFP to establish the facility supply (baseline). Most organizations that have more than 250,000 square feet of facility space have adopted (and are using for tactical space planning) an Integrative Workplace Management System or IWMS . If populated correctly, this database contains helpful information for every room in every building. Most importantly, this provides quick access to floor plans, square footage, and space utilization. With this database in hand, you can quickly assess your organization’s baseline supply for the SFP and add attributes and additional data points as needed for establishing the facility gaps.

Understanding utilization and capacity of existing facilities is key

The next step is to develop a deeper understanding of both the utilization and capacity of the existing facilities and develop planning metrics that capture this information. This is where SFP can help an organization develop the most appropriate approach given the nature of the space functions and the data available. Each space function will likely have a different strategy for establishing capacity, and corresponding metrics once the current utilization is understood. Lab capacity may be driven by samples, equipment, or even headcount. The capacity of a warehouse, on the other hand, will be driven by storage pallets; and offices will most likely be organized by headcount and/or seats.

The SFP must identify, for each space function, the existing utilization and capacity as well as future potential capacity if the utilization strategy is changed. Existing and future utilization may require a deeper dive into the operations to identify specific strategies to improve efficiency and increase capacity – thus addressing the facility demand and minimizing the gaps. For example, an existing manufacturing floor or warehouse may not be efficiently organized from an equipment layout and operational flow perspective. It is not uncommon for CRB to assist companies to “re-work” their production and warehouse spaces to increase capacity and defer spending capital on new facilities.

Identifying and communicating the facility gaps

Once you determine the baseline facility supply and forecast the facility demand, you can develop the gap analysis. The facility gap analysis gets the most attention in the SFP process because it provides the unmet facility demand data. With a robust data-driven SFP process, these gaps are very defensible, providing leverage to make strategic decisions about future growth and capital planning . However, these gaps are identified based on the many assumptions you’ve made about your organization’s business drivers and operations.

Gap Analysis Chart

Re-stacking strategies allowed the square footage of the warehouse to reduce from 33 percent of the total space portfolio to 11 percent.

Case in point: CRB provided a strategic facility plan for a growing biopharma client. Our team worked with the client’s leadership to translate projected manufacturing forecasts to space and facility demands. Three major demand drivers impacted the facility gap analysis:

• Production and equipment forecasts
• Supply chain pallet forecasts
• Head-count projections

Reducing the gap by optimizing warehouse space CRB determined that additional space was required to accommodate manufacturing growth. Being located adjacent to the warehouse created an opportunity to leverage an underutilized space for this growth. Re-stacking strategies allowed the square footage of the warehouse to reduce from 33 percent of the total space portfolio to 11 percent. This provided enough space for manufacturing to add the equipment needed to meet the five-year production forecasts.

Revisiting assumptions to minimize the gaps

When the facility gaps are large, you need to revisit the assumptions made about operations and utilization. In our testing lab example from above, the lab may currently operate from 8 am – 5 pm, five days a week. Because this is the current work culture, it was likely the assumption for the SFP analysis. But what happens if a second shift is added for lab testing? Or even a third shift? Assuming this is a doable strategy and aligns with the manufacturing schedule, it could potentially reduce the testing lab space demand considerably. In this case, the organization may also explore potential outsourcing of select lab tests to reduce in-house lab demand.

The most common assumptions to be re-visited to help minimize the facility/space gaps include the following:

• Outsourcing
• Headcount reduction/automation
• Operations improvements (more efficient equipment and/or space layout)
• Shared and multi-use spaces
• Shared instead of dedicated office seats

Developing strategic facility options and scenarios

The final step in the SFP process is to lay out all the credible strategic facility solutions to address the facility gaps. You may develop solutions to correspond to different operational assumptions. There may also be a series of options that align with various real estate opportunities. Clearly define each option, and identify the pros and cons. Additionally, develop and consider both capital and operational costs.

During this process we develop and consider both capital and operational costs.

Example heat map from a gene therapy client's SFP

Once all the quantitative data about each option is defined, it is important to add any qualitative criteria that would influence the viability and success of the strategic planning options. For example, a facility planning option may work great from a space layout perspective, but the implementation of it may significantly disrupt current operations, making that option very costly. Supply chain and regulatory impacts must also be considered as appropriate. Also, worth noting are impacts to employees. When considering real estate options, for example, employees can be significantly affected if a new facility on a campus is out of a comfortable walking range from their current workspace, or if a new real estate option extends their commute distance.

Once you have identified all the qualitative and qualitative evaluation criteria, you can score and weigh the options. A heat map is a valuable tool to leverage for evaluating and comparing strategic planning options and presenting them to executives and decision-makers.

The SFP process is a thoughtful, robust, and necessary step for any organization whose business is growing or changing in some fashion. Whether you are a manufacturer looking to expand into new markets, or a university looking to change the way students learn on a campus, SFP is a necessary first step in the facility planning process.

Are you ready to better understand your business implications for your facility? Our Consulting Team is here to help our clients with space utilization, reducing capital cost, and more.

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How to Write the Operations Plan Section of a Business Plan

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

How to Write the Operations Plan Section of the Business Plan

Stage of development section, production process section, the bottom line, frequently asked questions (faqs).

The operations plan is the section of your business plan that gives an overview of your workflow, supply chains, and similar aspects of your business. Any key details of how your business physically produces goods or services will be included in this section.

You need an operations plan to help others understand how you'll deliver on your promise to turn a profit. Keep reading to learn what to include in your operations plan.

Key Takeaways

• The operations plan section should include general operational details that help investors understand the physical details of your vision.
• Details in the operations plan include information about any physical plants, equipment, assets, and more.
• The operations plan can also serve as a checklist for startups; it includes a list of everything that must be done to start turning a profit.

In your business plan , the operations plan section describes the physical necessities of your business's operation, such as your physical location, facilities, and equipment. Depending on what kind of business you'll be operating, it may also include information about inventory requirements, suppliers, and a description of the manufacturing process.

Staying focused on the bottom line will help you organize this part of the business plan.

Think of the operating plan as an outline of the capital and expense requirements your business will need to operate from day to day.

You need to do two things for the reader of your business plan in the operations section: show what you've done so far to get your business off the ground and demonstrate that you understand the manufacturing or delivery process of producing your product or service.

When you're writing this section of the operations plan, start by explaining what you've done to date to get the business operational, then follow up with an explanation of what still needs to be done. The following should be included:

Production Workflow

A high-level, step-by-step description of how your product or service will be made, identifying the problems that may occur in the production process. Follow this with a subsection titled "Risks," which outlines the potential problems that may interfere with the production process and what you're going to do to negate these risks. If any part of the production process can expose employees to hazards, describe how employees will be trained in dealing with safety issues. If hazardous materials will be used, describe how these will be safely stored, handled, and discarded.

Industry Association Memberships

Show your awareness of your industry's local, regional, or national standards and regulations by telling which industry organizations you are already a member of and which ones you plan to join. This is also an opportunity to outline what steps you've taken to comply with the laws and regulations that apply to your industry. 

Supply Chains

An explanation of who your suppliers are and their prices, terms, and conditions. Describe what alternative arrangements you have made or will make if these suppliers let you down.

Quality Control

An explanation of the quality control measures that you've set up or are going to establish. For example, if you intend to pursue some form of quality control certification such as ISO 9000, describe how you will accomplish this.

While you can think of the stage of the development part of the operations plan as an overview, the production process section lays out the details of your business's day-to-day operations. Remember, your goal for writing this business plan section is to demonstrate your understanding of your product or service's manufacturing or delivery process.

When writing this section, you can use the headings below as subheadings and then provide the details in paragraph format. Leave out any topic that does not apply to your particular business.

Do an outline of your business's day-to-day operations, including your hours of operation and the days the business will be open. If the business is seasonal, be sure to say so.

The Physical Plant

Describe the type, size, and location of premises for your business. If applicable, include drawings of the building, copies of lease agreements, and recent real estate appraisals. You need to show how much the land or buildings required for your business operations are worth and tell why they're important to your proposed business.

The same goes for equipment. Besides describing the equipment necessary and how much of it you need, you also need to include its worth and cost and explain any financing arrangements.

Make a list of your assets , such as land, buildings, inventory, furniture, equipment, and vehicles. Include legal descriptions and the worth of each asset.

Special Requirements

If your business has any special requirements, such as water or power needs, ventilation, drainage, etc., provide the details in your operating plan, as well as what you've done to secure the necessary permissions.

State where you're going to get the materials you need to produce your product or service and explain what terms you've negotiated with suppliers.

Explain how long it takes to produce a unit and when you'll be able to start producing your product or service. Include factors that may affect the time frame of production and describe how you'll deal with potential challenges such as rush orders.

Explain how you'll keep  track of inventory .

Feasibility

Describe any product testing, price testing, or prototype testing that you've done on your product or service.

Give details of product cost estimates.

Once you've worked through this business plan section, you'll not only have a detailed operations plan to show your readers, but you'll also have a convenient list of what needs to be done next to make your business a reality. Writing this document gives you a chance to crystallize your business ideas into a clear checklist that you can reference. As you check items off the list, use it to explain your vision to investors, partners, and others within your organization.

What is an operations plan?

An operations plan is one section of a company's business plan. This section conveys the physical requirements for your business's operations, including supply chains, workflow , and quality control processes.

What is the main difference between the operations plan and the financial plan?

The operations plan and financial plan tackle similar issues, in that they seek to explain how the business will turn a profit. The operations plan approaches this issue from a physical perspective, such as property, routes, and locations. The financial plan explains how revenue and expenses will ultimately lead to the business's success.

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What Equipment and Facilities to Include in Your Business Plan Investors will want a detailed list of the equipment your business requires and where you plan to operate. Here's a checklist to get you started.

By Eric Butow Oct 27, 2023

Opinions expressed by Entrepreneur contributors are their own.

This is part 2 / 12 of Write Your Business Plan: Section 5: Organizing Operations and Finances series.

A manufacturer will likely need all sorts of equipment, such as cars, trucks, computers, telecom systems, and machinery of every description for bending metal, milling wood, forming plastic, or otherwise making a product out of raw materials. A lot of this equipment is expensive and hard to move or sell once purchased.

Moreover, manufacturers often require a facility to house this equipment and operate the business.

Related: How to List Personel and Materials in Your Business Plan

Naturally, investors are very interested in your plans for purchasing equipment and facilities. But this part of your plan doesn't have to be long—just be sure it's complete.

Make a list of every sizable piece of equipment you anticipate needing. Include a description of its features, its functions, and, of course, its cost. In addition, list all facilities you plan on buying or leasing.

Be ready to defend the need to own the more expensive items. Bankers and other investors are loath to plunk down money for capital equipment that can be resold only for far less than its purchase price. Also, consider leasing what you need if you are starting out. Once you show that you are responsible for paying your bills and sales look good, you can apply for a small business loan or a line of credit with greater success.

Related: How to Write an Operations Plan for Manufacturers

Unless you're a globe-trotting consultant whose office is his suitcase, your plan will need to describe the facilities in which your business will be housed. Even home-based business owners now describe their home offices as the trend continues to snowball, thanks largely to mobile communications.

Land and buildings are often the largest capital items on any company's balance sheet. So it makes sense to go into detail about what you have and what you need. Decide first how much space you require in square feet. Don't forget to include room for expansion if you anticipate growth. Now consider the location. You may need to be close to a labor force and materials suppliers. Transportation needs, such as proximity to rail, interstate highways, or airports, can also be important. Next, ask whether there is any specific layout that you need.

Related: What Technology to Include In Your Business Plan

Draw up a floor plan to see if your factory floor can fit into the space you have in mind. Manufacturers today do most of their ordering and communications online, so you need to ensure that your location has excellent connectivity.

To determine the cost of facilities, you'll first have to decide whether you will lease or buy space and what your rent or mortgage payments will be for the chosen option. Don't forget to include brokerage fees, moving costs, and the cost of any leasehold improvements you'll need. Finally, take a look at operating costs. Utilities, including phone, electric, gas, water, and trash pickup are concerns; also consider such costs as your computer connections, possibly satellite connections, maintenance, and general upkeep.

Related: Bursting at the Seams? Tips for Expanding Your Startup's Office Space

Facilities checklist

Use this checklist to analyze your facility's requirements.

• Initial space
• Expansion space
• Total space
• Technology requirements, including connectivity
• Proximity to the labor pool
• Proximity to suppliers
• Transportation availability
• Layout Requirements:
• Purchase/lease costs
• Brokerage costs
• Moving costs
• Improvement costs
• Operating costs

These aren't the only operations concerns of manufacturers. You should also consider your need to acquire or protect such valuable operations assets as proprietary processes and patented technologies.

Related: How to Determine How Much Real Estate Your Business Needs

For many businesses— for example, Coca-Cola with its secret soft drink formula comes to mind—intellectual property is more valuable than their sizable accumulations of plants and equipment. Investors should be warned if they must pay to acquire intellectual property. If you already have it, they will be happy to learn they'll be purchasing an interest in a valuable and protected technology.

More in Write Your Business Plan

Section 1: the foundation of a business plan, section 2: putting your business plan to work, section 3: selling your product and team, section 4: marketing your business plan, section 5: organizing operations and finances, section 6: getting your business plan to investors.

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What Is a Business Location Strategy?

Why is a business location strategy important, how to choose a business location, examples of business location strategies that worked and why, final thoughts, business location strategy: a complete guide to finding your optimal location.

Jul 24, 2024

You have a great idea for a business. The plan is ready to go, and you have your financing lined up. Now, you just need to choose your location to get started—but the right decision is not always obvious and calls for careful analysis.

In this guide, we’ll explain the concept behind business location strategy and some key considerations to keep in mind when choosing the best spot for your business. Plus, we’ll provide some examples of real business owners’ location strategies and how they worked out.

A business location strategy is your plan to find the optimal location for an organization. This requires an analysis of company goals and objectives and finding a location that meets them. Your company’s location strategy should align with any overriding corporate structure or strategy.

Some businesses require foot traffic, such as retail and restaurants. Medical practices and other healthcare facilities might prioritize patient access or proximity to growing neighborhoods. Yet others serve B2B customers, so location objectives may focus more on expense reduction.

Having a strategy in place for choosing your business’ location is important because it allows you to make better decisions about choosing a location that balances all the things you need.

Business location, regardless of your industry, affects your operating costs and your stakeholders.

Think About Your Customers

Think about the type of customer you hope to attract. If your business location is off the beaten path, is difficult to find, or does not offer parking, that can be an issue. If you’re not in a safe neighborhood or one that’s well-lit and you have hours after dark, that can also be a problem.

An urgent care clinic, for example, may be fine in a strip mall with enough parking. However, a surgery center may need a more discreet location.

If your business caters to locals, you may be fine in a city center or congested area. If people travel from out of town, you’ll probably want to be near a major roadway.

If you run a B2B business, most of your business dealings might be handled face-to-face, online, or on the phone. In that case, where your business is located might not matter to your customers.

Think About Your Employees

Your business’ location can make a big difference in attracting and retaining employees.

For example, easy access to free parking or public transportation to and from can play a role. If an employee has to pay for parking every day, it cuts into their paycheck. You may prefer to open your business in a location with restaurants or coffee shops nearby to make it easy for employees to grab a meal or take a break.

Think About Your Suppliers

If your business needs to store substantial inventory, think about your supply chain. Faster delivery cuts down on your costs and gets products back in stock more quickly. Locations without street parking or in a difficult-to-access area may increase costs for deliveries.

“Site selection is a process of elimination,” said Christine Wong Rambo , CEcD, MBA, certified economic developer, and president and founder at the economic development marketing firm Upsize Marketing Strategies .

Data should be your guide when choosing real estate for your business.

Data-Driven Site Selection

“The site selection process is driven by data,” said Rambo. “Collecting this type of data may be challenging if a company is not using a site selection consultant. Companies can partner with state, regional, or local economic development organizations to gather this information based on the company’s criteria.”

For example, in the healthcare sector, it’s common to do cohort analysis to find patterns in patients and care. The Agency for Healthcare Research and Quality provides detailed information on medical expenditures for cohort analysis.

Site selection criteria include a range of attributes, including:

• Real estate costs
• Site work needed
• Cost of doing business, including taxes
• Market potential
• Competition
• Potential for future expansion
• Neighborhood reputation
• Available infrastructure

Consider Key Metrics

The elements or metrics most important to your business will determine your ideal business location. However, nearly every organization will have some common themes.

According to Rambo, most optimal locations will:

• Meet consumer or production demands
• Improve operational efficiency and costs due to proximity to other resources
• Lower overall business costs
• Offer sustainability and potential for growth
• Meet workforce requirements
• Provide a more favorable business climate

Consumer businesses that carry large inventories will want to consider the cost of warehouse space and distance from shipping hubs.

Access to a Skilled Workforce

“For the professional services sector, the ability to recruit a skilled workforce and proximity or access to a major client would be important considerations,” said Rambo.

Healthcare facilities, clinics, and medical practices may want to be located near hospitals or universities that train medical professionals for easier access to potential employees. Field service businesses may want to be near a community college, vocational tech school, or career training center. Businesses with a less-skilled labor force that pays lower wages may need to be near public transportation.

Access to Customers

“Your business can optimize its operations and market reach if it’s located in the right location,” said Michael Hammelburger, CEO at business consulting firm The Bottom Line Group . “This is especially true for retailers and food-related establishments that take advantage of heavy foot traffic in areas during rush hour. When situated in the right location, they can reach more people and thus have the potential to sell more.”

For consumer-facing businesses, accessibility and safety for customers are key considerations. The same applies to healthcare facilities. Patients have to be able to access your facility easily and feel safe when doing so.

Consider the Long-Term Implications

Your business location strategy should be far-ranging to accommodate your future plans. If you are open to the possibility of expanding your footprint in the future, you want to make sure there’s enough real estate nearby to make that a reality—even if it may be years down the road.

“When you start a business, you may have assumptions on what business you are in, where you are located, and where your customers are,” said Joseph Meyer, financial consultant and business strategist at The Dollar Soldier . “These assumptions are locked in for your business. If you try to change those assumptions after you start, the risk of business failure grows.”

The assumptions you make today about your business location strategy can help or hinder your efforts down the road.

For businesses that rely on foot traffic or get regular visits from customers or patients, location is crucial. For example, 62% of patients said they selected a physician based on the convenience of the location . Fifty-eight percent of patients that had a choice of hospitals to use said they prioritized locations as a key factor in their choice.

The only factor that was more important than location was whether a practice or facility accepted a patient’s health insurance. After that key consideration, location ranked second.

For businesses that don’t rely on foot traffic or customer visits, the location selection strategy is quite different. Mold Busters , a field service company that handles mold removal, wanted a central location that was close to their customers.

“Our teams out in the field may gather supplies and equipment in the morning then travel to customers,” said Charles Leduc, Mold Buster’s COO. “A location that provides minimal miles in between locations or jobs helps keep expenses down.”

Ralph Severson , president at Flooring Masters , agreed.

“Our crews must be able to get the equipment and supplies that they need each morning with minimal travel time,” Severson said.

At the same time, Severson said they wanted a location that balanced the convenience with lower costs.

“We chose our location because it is only 10 minutes from Louisville, Kentucky, the most densely populated city in the area, but we are north of the Ohio River in Indiana, where overhead costs are lower,” he said.

The right location for your business plays an important role in your success. Businesses need to assess their overall goals and think carefully about how they are serving their customers and employees to optimize their strategy.

Ready to take the next step in protecting your career and business? Take a few minutes to learn more about our suite of insurance products and find out how Berxi can help you.

Image courtesy of iStock.com/ Orbon Alija

Last updated on Jul 24, 2024. Originally published on Aug 25, 2021.

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Paul Dughi is a contributing writer for Berxi, as well as a journalist and freelance writer. He has held executive management positions in the media industry for the past 25 years.

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