How to Choose the Right Building for Your Business
Choosing the right building in which to base your business is of vital importance to how successful your business may be. The space you chose, should enable you to operate effectively without costing you extensively. By the same token, you’ll want to avoid being shackled to a property that might not suit you in years to come.
Naturally, different options suit different businesses, but by understanding and taking into account all the relevant factors, you will be able to locate the right building for your business, staff and customers.
Know What You Want
Knowing what you’re looking for is always a massive help when hunting for a property for your business. It can help to write down a list of key qualities you would ideally like your new premises to have. For example, try listing preferred size and layout, structure and appearance, utilities, whether you need to be able to alter the premises, facilities required for comfort of employees and customers etc. The more you can pinpoint now, the easier it will be to narrow it down later on.
As with any business endeavour, try looking to the bigger picture in order to be realistic in terms of what the business may end up costing you. Take into account not only initial purchase costs, but legal and professional costs as well as the expenses incurred through initial alterations, fitting out and decorating as well as ongoing rent and utility charges. Your landlord is obliged to provide you with the building’s Energy Performance Certificate, which will give you a rough idea of how efficient the building is to run.
The Right Place
A good location in any business is paramount. However, sometimes a good location isn’t an affordable option. At very least, try to ensure that the location of your business is convenient for customers, suppliers and employees, without being too financially damaging to yourself.
When scanning the market for a new premises, the main factors you will need to consider are as follows. The level of passing trade: Is there any? To some extent it depends what type of business you are running, but in some fields, passing trade from the street is vital. Have you Got any Competition? In some businesses, having too many competitors in too close a proximity can be detrimental for you. What sort of area is it? There simply is no point going at great lengths and expenditure to set up your first business, beautifully decorate the interior and hire friendly competent staff, if the location you’ve chosen for the building is likely to deter custom.
Of course, it is always a balancing act between what is affordable and what is desirable, but you do need to find the balance. Every town will have both its affluent and less effluent areas, and it’s your job to locate the property which takes the best from both. It’s worth having a Search for Shops to let in Brighton, as it is is a prime example of somewhere that offers good options for business owners.
You might also like
Economy today causes most of us headaches – not only in the US but all over the world. In my country, the economy condition is quite severe – prices soars,
Running a business is no cake walk and anyone who has taken the entrepreneurship route would definitely agree with me on this. Tolerance for uncertainty, dealing with ambiguity and finding
Business owners are entrepreneurs. Alas, some of them are not really the effective ones. I’ve seen many entrepreneurs are just like office workers – they, in fact, just create another