Investors considering a move to a new area are often concerned about potential externalities that may affect their business. They focus on every negative news story and every potential threat that may arise. Others simply make a move and deal with potential consequences later.

1. Tips For Evaluating
An Area in Which
You Haven't
Invested Before
Michael Zaransky

2. Investors considering a move to a new area are often concerned about
potential externalities that may affect their business. They focus on every
negative news story and every potential threat that may arise. Others simply
make a move and deal with potential consequences later.Instead, companies
need to take concrete steps to research an area and learn any information
they can from potential new business partners.

3. Travel the neighborhood
Any potential investor in a new area should visit that area as
soon as they can. They should walk around a representative
part of the area at several different times during the day. In
some instances, it may even be a good idea to visit the area at
night. The investor should take notes about the residents and
the economic activity they observe.
They should also note the number of police cars and any
instances of harassment. One negative experience on one visit
does not mean that an individual’s investments will be doomed
in that new neighborhood. Such an incident would simply mean
that the individual would have to be careful and factor in this
scenario while they are determining the potential costs of a
move.

4. Individuals looking for new areas to invest in
should contact other investors who have been in
that same area for many years. They should
attend meetings, conferences and other events
where these investors may be present. Investors
should even consider paying for the opportunity
to meet and talk to locals. These locals will often
be in a position to comment on the status of a
town, including its benefits and drawbacks. The
best possible way to vet these locals would be
through a local Chamber of Commerce. Some
potential investors join local Chambers to receive
information and stay in the loop for any new
investment decisions they may be considering.
Talk to fellow
investors

5. Explore relationships with
partners
Companies evaluating a new area should start the process of investigating partnerships before they even
decide on a move. The company considering a move can then use this information to compare different
areas and how much it will cost to do business in those areas.
They can take notes about the nature of potential partners and whether partners are looking for new
opportunities. In some areas, rent may be cheap but there may be no available housing stock. Police
departments may also be belligerent and not helpful to newcomers. It is up to the company considering a
move to stay abreast of all of these potential developments before deciding definitively on a move.
Moving to a new area can be a harrowing process for any investor. They are uncertain
about change and the new prospects for their company. These individuals should focus
less on every possible risk and more on the steps that they can take in order to improve
their company. By taking charge and starting the research process in earnest, investors can
ensure that they will be able to take proactive steps to cover as many risk points as
possible.

6. Thank You!
MICHAELZARANSKY.COM