A Business Without A Sign is a Sign of No Business
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It's a critical component of visibility
Passers by will remember your location and the products or services available.
It reinforces other advertising efforts, especially if you "brand" your sign and advertising with a memorable logo, colors, shape, etc.
It attracts new customers' first time or implulse visits
If your sign is changeable, or temporary signs are used, they can encourage additional sales.
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From the SBA