Buying commercial space for your business can be stressful, to say the least. To save you time you need a quick guide to help you towards making the right decision in terms of buying or renting new premises which is where this article steps in. Whether you are launching a startup and need the floor space for your employees and products, or your existing business is growing, and so you need to upscale your premises, the points you need to consider when purchasing or renting a new place are below.
Buying Commercial Space For Your Business: Consider Affordability
As with any business, keeping your overheads to a minimum is essential. Renting or buying commercial space for your business is more than likely going to be one of your most significant outgoings, Ideally, it pays to be mindful about whether the properties you are viewing are within your price range. Other areas you will want to consider are whether there is a service charge to maintain the building, or whether the maintenance is something you will need to assess and pay for yourself. A surveyors report from Allcott Commercial can help you determine the quality of the commercial building (as this tends to differ from houses). Also, any underlying issues you may need to take care of, and whether there is potential to ask for the premises you are interested in for a reduced price due to the issues you have found on the report.
Accessibility
For this section consider who needs to access your workspace and how easy it will be for them to find it. If you are launching a new shop that you expect passers-by to walk into, your commercial space is better located in the centre of towns and cities rather than in a rural location. If however, you are launching a wholesalers business, being in the city centre would be too congested and restricted for you to receive and dispatch large orders. With this in mind, you would be better off purchasing a business space on an industrial site, where the roads are broader and quieter for receiving your large deliveries.
Buying Commercial Property Makes Room To Grow
When buying commercial space or renting it there will be an investment or deposit from you to secure the building and perhaps moving and legal costs to take care of too. Ideally, you don’t want to keep relocating your business every few months because this isn’t cost-effective for the company. Which is why you should consider whether the commercial spaces you are looking at provide the scope for your business to physically grow. For instance, are you viewing places that you know will just about fit the equipment, desks, filing cabinets and so on that your business has/needs? Without considering that your business will expand in the future and you will need to house more office equipment, this could live you in a tricky situation where you are forced to move again in a short amount of time.
Buying commercial space or renting new premises for your business doesn’t have to be a minefield. Keep it simple by assessing the affordability to help you save money on the property, the accessibility for your customers, investors and deliveries. And of course whether the commercial space will provide you with the scope to expand in the future as your budding business grows.
