Running a business in a rural area is not the same a running a business in a city. While your online client base can be huge, your in-real-life client base is limited to those in the immediate area. There may or may not be tourists or visitors from nearby towns. Your best market is folks living in the same rural area where your business is located.
What do you need to know about a rural business that is different from others?
Word of mouth travels fast. It travels even faster in small towns. You must be on your game from the very beginning, and you have to stay on top of it. The one thing that mitigates this is, in a small town, competition may be less fierce. This means the local clientele may be more likely to give the business a second or third chance, allowing you to work out the bugs that accompany any new business.
By nature these areas are typically smaller, meaning there are fewer locations to choose from. This means there has to be a balance between being highly selective, which is imperative, and taking what you can get, because you can’t have a business without a location. If the back alley storage building is all that is available, then you may have to work double time at marketing. That said, marketing in a rural area could be as easy as a large sign on the main highway with the name of the business and an arrow pointing. It all depends on the individual area’s market and demographics. The point is, choosing a location may be trickier in some rural areas.
Rural areas often have only one or two community banks, and depending the size, maybe a credit union. Using an online service like Biz2Credit can open the door to lenders located in areas across the country that are looking to fund new businesses.
There is no need for you to feel out the funding waters yourself however. Biz2Credit loan specialists can answer questions and find the best lenders for you. We will do that part, while you are busy finding the perfect location and building your reputation.