Developing and Executing a Site Selection Game Plan
9 Feb 2021
Before setting sail on your site selection voyage across the country or the globe in search of your project’s perfect location, it is imperative to first take an internal assessment of the current operations, needs, and industry trends influencing the project. Taking the time to perform a thorough internal assessment of the project and company will lead to new discoveries that will ultimately guide the site selection game plan to success. Challenging and rethinking some of the institutional wisdom will allow new and innovative ideas to surface, enabling the company to consider sites or regions they had initially thought were not a good fit.
Know Your Industry — and Company
On the operational side, some expenses traditionally viewed as fixed costs may have more variation than you realize based on site location. For instance, utility costs vary significantly across the nation. The best rates can be negotiated directly with utility providers based on customer consumption, i.e., the more you consume, the better long-term rates you can negotiate.
Another big variable on the expense side of the ledger is labor. While skilled labor availability and wages vary greatly across the nation and the world, having access to a skilled and ready workforce at affordable wages is a key driver for success.