Finding the right premises from which to run your business is a key decision. Here are some top tips that will help making your choice that little bit easier.

Renting vs Buying

It may be a better idea to rent premises before you buy. Not only does it tie up less capital but it also gives you more flexibility if, in the future, the size, location or other factors of the premises no longer suit.

Another plus for renting is that the exterior maintenance of the building will be taken care of at no cost to you. This again, will save vital funds.

If you do take the renting rather than buying option, it is advisable to get the contracts looked over by a legal professional – this will ensure that there are no nasty surprises in store for you.

Make A List

There are many factors to be considered when choosing property for your business. There is a big difference between essentials and desires – make a list of all the things that are a necessity in your new building and then add in all the things that are not essential but that you would like to have.

Some things to consider are:

Cost – Obviously this will be the main influencing factor when considering what premises is right for your business. One thing to bear in mind is not only the ongoing rental cost but also insurance, maintenance, legal costs etc. This should be factored into your budget.

Size – Is the premises not only big enough to accommodate your current body of staff but is there room for more staff members in the event that your company expands?

Location – You will want your location to be convenient and accessible for staff members, clients, customer and suppliers without it costing too much. The location will primarily depend on what sector your business is in. If you rely on passing trade (such as shops, supermarkets etc) then you will need to consider this when choosing a location.

Parking – If the premises is not on a main communter line, you may need to think about car-parking facilities.

Facilities – This is where the ‘nice to have’ section of your list will mainly come in. Look for things like shower facilities, large kitchen areas and other in-building facilities that you would like to have.

Where To Look

There are lots of places you could start looking for your new premises. Online and in newspapers being the most obvious. Some other places that are also worth a look are with your local council, in estate agents or even by driving through areas that you think you may want your business to be.

Final Touches

Once you have found somewhere that you like, consult a legal professional to look over the contracts and also ensure with the building owner that you will be able to make any changes you would like to the interior of the building. It is important to have a comfortable setting for your employees to work in but also a nice environment for clients to enter into as well.

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