This guide will help you establish a way to decide on what land to rent to start your business in Second Life. We will focus on business in second life and for that reason, we will not be discussing options for recreational and RPG use.
The first thing to be aware of in Second life are the two main types of land. The mainland is the land linden make available to residents. You can purchase the main land and you will pay a landowners fee depending on the total size of the land you own. Second life offers private or estate land which is when somebody owns the entire region. You can rent on the mainland or you can rent on a private estate. There are some good reasons to consider renting on a private estate such as a cleaner and more disciplined sim, but I only recommend this if the estate is within your niche. Renting on the mainland is enough for most people opening a business on Second Life.
Private estates often have a covenant that is very specific and details what you are allowed to use the land for. I recommend you read it in the land's About Land Page before you make a decision about renting that land.
For the purpose of running your business, you will need to select a good place to set up shop. Many parcels of land in Second Life are designated as commercial land which is for running a business. You may not be allowed to set up business on a land parcel that is being offered for rent as residential land.
You need to know your intended customers because if you will be selling products that server other businesses then being in a commercial area can help you. If you will be selling products to residents then being in an area close to places they hang out could be a better option for you. You may sometimes need to rent a residential space for your business but please check with the landowner if they are willing to lease it to you for a commercial venture.