Why is Orange County, CA, a popular location among numerous places for an office startup? Companies in Orange County grow significantly in a short time, and all their growth comes from local supporters. They do not need to spread to other regions or have an international standing to grow. Due to this, Orange County is an excellent place for startups. This article shall help you deduce why you should startup in Orange County and what benefits you can enjoy from the location. Let’s get started!
How an Office in Orange County Can Boost Your Business
Let us first look at facts and statistics that prove Orange County, CA, is an excellent choice for startups:
- Orange county is the third largest county in California.
- Over three million people live in Orange County. It is the sixth largest county in the U.S. according to population.
- Orange County is an excellent spot at the back of Los Angeles and San Diego. It is in front of San Francisco and Sacramento. This means that even if you decide to spread out to other counties, you are located close by.
- Orange County’s GDP is nearly $300 billion owing to its significantly large population. These are great figures for any company that wishes to acquire a wide local audience.
- Orange County’s GDP is higher than countries like the Czech Republic, Greece, New Zealand, and even Portugal.
- If Orange County were a real country, it would have been one of the top 50 countries globally.
- These incredible numbers indicate that Orange County alone is sufficient for startup growth without the need to expand into other parts of California.
- Sizable economic activity and exponential growth allow several markets to thrive in Orange County.
- The median yearly income is $89,759. This is greater than the median in most regions of the U.S.
- Orange County is home to recognized companies like Western Digital, Ingram, Broadcom, Blizzard, Linksys, Samsung, Toyota, Quicksilver, Oakley, and Toshiba.
- Education, tourism, and sports also flourish in the region.
Simple Hurdles to Overcome As a StartUp in Orange County
Most companies or businesses take two to three years to fully establish and create awareness. Customers must know about your brand name, mission, values, competitors, and beliefs. A large marketing budget is often required to spread awareness in a single state or several states to profit.
Many smaller brands try to get customers to perceive them as country-level brands, which requires a marketing budget. Some of these tactics may also even fail and cause significant losses. Most of the above challenges are eliminated when you start up in Orange County. Due to a vast market, brand awareness happens quicker, and the need for a large marketing budget is also nullified. Make sure that you:
- Start small and at a normal pace
- Establish awareness through organic methods
- Reach out to other states or countries only after your brand is established locally
Most brands are worried that their niche may have no relevance or audience in Orange County. However, statistically, a county with a GDP of $300 billion and three million residents is large enough for a variety of businesses. The reasons why some brands fail are because:
- Competitors are attracting all the audience by offering better prices, branding, deals, and product quality
- Your office, shop, or building has not been positioned strategically
- Lack of brand awareness and marketing
Most businesses enjoy less than 1% of their local market audience to make profits. You have 99% remaining audience that you can still attract, so you should look at things on a company level if you are not getting enough sales or clients in Orange County.
While digital marketing has slashed marketing costs a great deal, some basic marketing costs remain. The larger the audience, the more marketing budget you will need. For example, an audience greater than 10,000 will incur a lower cost than targeting 50,000 people.
Targeted marketing also means a more significant ROI. This means that you should target regions that work for your business. Targeting the whole county or other counties will cost significantly more as compared to targeting customers that are a match for your niche.
Since Orange County has a massive population of people interested in different things, it is evident that you do not need to target the entire county for significant profits. Targeting a few cities should be enough. This way, you can spend money on improving your business and still have new customers pour in every day.
We have reached the end of this guide, and we hope it convinced you to get an office for your startup in Orange County. The region has a wide audience and excellent growth potential. Marketing, brand awareness, and finding the right audience for your niche are easy once you pick the right spot in the county. Make sure to reach out to a renowned real estate broker like the Jeff Tabor Group that can help you land a great deal.