Business premises are an important component of running a small business. This is especially important when you decide to move from a home-based business to one with more public access.
Making the decision to start a business isn’t easy. There are so many things that you need to take into account and there are also so many variables that you need to consider as well.
As if that wasn’t enough, you also need to decide on a business property, and this could easily make or break your idea.
Good Business Premises Need A Good Location
Location is everything when you are choosing a commercial property. You have to take into account how close you are to important resources, walk-in customers and even suppliers as well.
The location will depend heavily on the type of business you run. If you are a hairdresser then you will need a lot of pedestrian traffic. If you work in the service industry then you may be able to invest in a larger site that is in close proximity to any of the main roads.
If you see a general practice for sale, this would have completely different requirements.
Business Premises Contracts
Different letting agents will offer you different contracts. A traditional contract for a commercial property will lock you into having the space for a certain space of time. This is often for 5 years, but it can be longer.
If you happen to outgrow the space then you will have to continue paying the rent, even if you move. These contracts can be super restrictive to start-ups, but it does give you the chance to build a solid client base.
If this concerns you then a flexible rolling contract may be the way to go, as it can help you to have the freedom you need to expand when necessary.
Plan for Growth
The last thing you want to do is spend thousands upgrading a property, just to move to another location in a few years. It’s important to make sure that your space has a ton of extra room, and even the chance to expand as well.
You may want to take on new employees and you may also want to develop new products as well. If you love the location but you are worried that you will outgrow it in the next few years, then talk with the owner to see if they would let you expand. If they say yes, get it in writing.
Access To Your Business Premises is Important
Who needs access to your property? Write down a list of everyone and work out what type of vehicles and pedestrian traffic will be coming in and out of your building.
If you are a frequent flyer, having a property close to an airport would really benefit you. Access routes are crucial because you don’t want your clients getting lost or even confused when they arrive.
If you are out of the way then you may want to look into getting some signposts setup, so that you can direct customers to your location. This will really help you to ensure that your customers can find your business easily.
It can also work wonders for your client base and general customer experience too so that’s really important to consider.