There are a lot of different reasons that you might be looking at a new business premises. You might be upgrading to a bigger space, downsizing to save money, or it might be the premises for your brand new business. Whatever the reason, getting the location and functionality of your new building is key, and can be the difference between failure and success. These are a few of the main things to look out for when deciding on your new business premises.
Using an agent
Regardless of what stage your business is at, you will probably want to keep costs as low as possible, especially considering you are about to purchase or rent a new building. But investing a bit of money in an agent, rather than sourcing potential locations yourself, can save you a lot of money in the long run and ensure that you get the best place for your business. Agents can give you information on a whole host of things including fluctuations in prices and whether they are likely to drop. They can also give you a lot more detail about the location and surrounding area, including where the nearby competition is.
Another thing to think about is how accessible your new building is going to be. Consider where all of your employees live in relation to the new location. If you are moving quite far away from your previous premises, you might find that some of your most valuable employees will start looking for work elsewhere because the commute is too long. Similarly, you should think about whether anybody lives nearby. If you need to hire more employees in the future, you will struggle if the new premises is difficult to get to.
If your business requires deliveries, or clients visiting the building, you need to make sure that they can get in and out easily and that they aren’t going to have to travel for hours to reach you.
Before you decide on a place, think about the condition you want it to be in. Are you willing to spend some money on it or do you want it to be ready to use straightaway? You could make savings overall if you refurbished a cheaper building yourself, but it would mean that your business could suffer while you are spending time and money on the new building.
In order to avoid any nasty surprises in future, have the building properly checked before signing any agreements. Have a commercial plumbing company, a building surveyor and an electrician come to conduct a survey and make sure that the building is fit for purpose. If it isn’t and you only find out after signing a contract, you might end up spending a lot more than you had first hoped, before you can move into the building.
Use a solicitor
Renting or buying a commercial property is very different to a standard property. There are a lot of other laws and regulations surrounding it that you may not understand. In order to avoid being taken advantage of by landlords, it is a good idea to employ the services of a solicitor that specialises in commercial property transactions. It might cost a bit more in the beginning but they can help you avoid unnecessary charges and get a better deal overall.