Whether you are an established business or a new one, choosing the perfect business premises is very important. There are many aspects to take into account such as where the building is, what it has inside, how you get there and of course, the costs of buying, renting or running it. Here are a few top tips to consider when choosing the perfect business premises.
Choosing the right location
When searching for a place to set up your business, make sure you are not just looking at the premises on its own. Be sure to consider the location and the impact it will have on you, your clients, your staff, and your profits. For example, you might have found the perfect building at a low cost, but if it is in the middle of nowhere you might lose out on potential client visits, or have staff leave due to travel time and costs.
Consider local competition
Alongside being mindful of the physical location of your business premises, you should also consider any local competition you may have. There is nothing wrong with being close to your competition as long as you have done your research and are not causing yourself any unwanted stress. Sometimes competition can be healthy in promoting business growth, but just take into account how long the other businesses have been established and their prices before you think about competing with them for local business.
What workspace does your business need?
Before purchasing premises to run your business from, ensure that the workspace is suitable for you and your employees to effectively work from. For example, if you are an office-based company then making sure there is enough space for each person to have a comfortable amount of room and their desks is important, with a mixture of large open spaces and smaller meeting rooms for client meetings or a staff one-on-one.
Deciding between an existing building or newbuild
There are pros and cons to choosing both existing buildings or designing your own. For example, with an existing building, everything is there, ready to go and all you have to do is purchase or rent the space and maybe renovate the inside. However, if you want the customisable options that designing a new build brings, then investing in commercial metal buildings would be something to consider as they are quickly erected, durable, and extremely customisable.
Premises costs
When looking at premises to invest in, whether you are planning to buy or rent it you should look into and calculate the running costs as these will impact the growth of your company and any profits you will make. Obviously, the larger the building, the larger the running costs will be, but also maintenance will cost more, and insurance. So, be sure to take these factors into account when deciding on your business premises so as not to put yourself into financial difficulty, just because you thought bigger was better.
There are many other important factors to consider when buying premises to run your business from, but make sure you take these into account too.