The location you choose for your business needs to be right for your company, otherwise it can be detrimental to your operations and ultimately affect your success.
However, knowing where to start with this can be a challenge – particularly if you’re looking to start up for the first time.
So, to help with this, we’ve detailed the considerations you need to make and what you can do to find the perfect premises for your business.
When looking to the property markets you should think about:
This needs to be convenient for customers but not in too close a proximity to competitors. Equally, it needs to be appropriate for the type of business you are; for instance, a retail store would be better on the high streets, whereas a working office would suit a business park.
There’s also accessibility to think about. Can your staff and clientele easily reach the building? Does it have parking and supply and delivery bays? In short, the easier it is in terms of access the better. Although, you may have to compromise if you want a city centre location as there are often restrictions on such aspects.
Will you be looking to go furnished or unfurnished? The former is the better option for new businesses as it can be more cost-effective.
You should also think about the future growth and leave some scope and room for your business to physically expand. This lessens the necessity to keep moving around.
Finding the Property
With the above in mind there are a few approaches you can then take to find your next business premises.
Your local authority may have a list or register of enterprise opportunities for new businesses. In addition to this, there are online tools and resources like these Government pages that can advise on costings and business standards and rates.
There are also dedicated business property experts like GVA that you can call on to assist you in your search. Such providers also have additional property insights and tools you can use to make your search much easier.
You may also want to check local business publications and websites to see what advertisements there are which list out different available properties.
Whichever approach you end up taking, always make sure you thoroughly check and inspect the potential location when you visit it. Also, be prepared to negotiate on rental rates and what’s included to help make the purchase more affordable.