Business Startup Chooses Trendy California Location For Ad Agency
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporation posted in Business Formation & Planning on Wednesday, July 24, 2013.
When opening a business, choosing the best location can be essential to future success. In some cases, the other surrounding businesses play an important role in making a specific location ideal for a new company. One entrepreneur in California took this into consideration when choosing the new location for his business startup company.
The entrepreneur wanted to find a hip and trendy location for his new advertising agency. He was looking for a location with an ocean view when he was starting the company in 2006. He eventually found a location surrounded by media and entertainment agencies and technology startup companies that were considered to be cutting-edge at the time. The area also contains many new and trendy restaurants as well as fashion boutiques.
Six months ago, Microsoft opened their new location within the same area, while Intel is also currently considering the area for their new location. The demand for spaces in this particular area is quite high, while the supply is low, which has resulted in rental rates skyrocketing. Some spaces are renting for more than $1,000 per square foot, while others are almost $1,500 per square foot.
However, despite the high-priced rental rates, the entrepreneur says he is happy with his decision to move his business startup to this area in California. He says the strong community as well as access to the outstanding talent has made the choice of location successful. However, just like with any other new business, he also needed to create a good business plan which helps ensure that a company is in compliance with all applicable rules and regulations.
Source: adweek.com, "Silicon Beach: Southern California's New Ad Agency Hot Spot," T.L. Stanley, July 8, 2013