Cost of living. This issue has major implications for both your employees and your company. In terms of commercial real estate, Donovan suggests that you look at both cost and flexibility. He recommends negotiating a short-term lease that gives you options to acquire more space as needed. When the students graduate, they help form a skilled talent pool from which to draw employees.
Many universities also host small-business development centers and programs.
Character of the local economy. If you're a manufacturer, for example, you probably don't want to go to a tourist or service-oriented economy, since it might not have an appropriate workforce, essential suppliers, and other resources. You want to be happy in the place where you do business. As your company grows, the personal aspects of running a business may have to give way to more practical considerations, so think about such factors now, while you are still in control.