How To Choose The Right Premises For Your Business

The right premises for your business are essential, whether you’re looking for you’re just starting out, or planning a move. Your premises are part of your brand, and need to the have space and the facilities for your employees and your products.  

Write A List Of Everything You Need From Your Business Premises

Think about everything you need from your business space. Do you need meeting rooms, turning room for delivery lorries, or specialist storage? Remember to think about your long-term business plans while you write this list, and how these might change what you need from your business premises. Consider whether you might want to expand or change the property in the future, such as expanding the car park with help from https://www.keflatwork.com/parking-lot-paving/.   

 

Get The Right Location

Choosing the right location for your premises can be a balancing act to get right. You need to choose a location that works well both for employees, suppliers, and customers to get too, but you also need somewhere that meets your budget. You might need to think about footfall in the area, where your competitors have their premises, any difficulties for deliveries or parking, and the business rates in the area. 

 

Buy Or Rent A Property

You will have to decide whether you want to buy or rent your premises. Renting has the advantage of needing a lower amount of capital to be invested. You’ll have more flexibility to relocate as your business changes, so renting can be a good idea in the early stages of your business. Buying a property has advantages too, such as the flexibility to manage or repair the building as you need, the potential profit of selling the building if you can improve its value, and the option for another stream of income by letting the premises. 

 

Get Help With Business Rates

You might be able to apply for help with your business rates. Some areas offer assistance for small business owners with their business rates. See what can be claimed in your area and whether you meet the requirements to apply for the help.

 

Legal Considerations For Commercial Property

There are a few legal considerations that you should keep in mind when you’re finding a property for your business. Make sure you’ve thought about the requirements for planning permission, health and safety, fire regulations, insurance, accessibility, and licenses that you must have. If you choose to rent a property, remember that you will also need to play by the terms of the lease, so you will need to clearly understand what those are and if they will cause you any annoyances. Before you decide to buy or lease a property, it’s a good idea to take advice from a solicitor. 

 

Search For Commercial Property

You can find business premises through local commercial property agents, visiting areas you think might work to see commercial properties that are for sale or rent, or looking on commercial property websites. Check premises against your list of needs to create a shortlist of properties that you might want to view. 

 

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