FreshBooks banner ad

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.

office building london

photo credit: Simon & His Camera via photopin cc

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.

About author

SMB Authors
SMB Authors 1038 posts

This article is one of the excellent contributions from small business owners, decision makers and professionals.

Funding Note

You might also like

Tips

5 Budget-Friendly Ways to Woo New Customers

This is a sponsored post written by me on behalf of Microsoft Office. All opinions are 100% mine. Marketing your business on a budget is easier than it might seem.

Tips

Car Loan Rate Tips and Tricks

This is a blog post by Edward Pacheco If you’re not making enough money right now to even consider buying a new car, then it’s probably not smart to buy

Tips

6 Ways to Get Your Startup Off the Ground

Launching a start up? Doubtless you’re a courageous person and are passionate about the business you’re beginning but how exactly do you plan on executing your idea? Here are six