Looking for Larger Premises for Your Growing Business? Here Are 5 Must-Haves To Look For
If you have created a business from scratch and dedicated time and effort to grow it, you might be ready to start expanding your company. And, for this, you’ll need more spacious business premises that can accommodate the more extensive operation.
But not all commercial premises are created equal, and choosing the wrong one can affect your customer experience, client relationships, productivity, and profits.
So, how can you be sure that your chosen commercial property is the right one for your company? In the sections below, you can find everything you need to narrow down your selection and pinpoint the right location for your growing business.
Ensure Plenty of Parking and Public Transport Connections
One of the first boxes you’ll have to tick is the one regarding the space of the parking lot. Indeed, your new business location needs to be highly accessible to stakeholders, clients, partners, employees, and customers.
If you have chosen a city or urban location with limited parking facilities, you should ensure that your new headquarters are easily accessible via public transport.
Invest in Healthy and Comfortable Interiors
When it comes down to investing in commercial properties, it is essential to understand how to protect the well-being and safety of your employees, customers, and contractors.
You should boost your workplace with high-quality lighting, advanced sound control technologies, and adequate ventilation. Creating a healthy environment will then translate into fewer chances of dealing with workplace accidents, increased productivity, and better employee health.
Make Sure You Have Enough Space for Future Growth
If you are looking to grow your business by moving into a new commercial property, you should consider both the current needs of your expanding company and your long-term expansion plans.
While you should choose a property that is adequate in terms of size and facilities, you should not overlook the importance of creating enough space for future projects. After all, relocating a growing business can be an expensive project!
Consider the Pros and Cons of Leasing vs Buying
While investing in real estate can be a winning strategy for many people, there are valid pros and cons of both buying and leasing a business.
For example, leasing commercial premises instead of buying them will allow you to expand or scale down your operations as needed, especially if you want to grow a seasonal or temporary project.
Beyond this, in certain industries, leasing a property can have many benefits.
For instance, for those working in biotech, shared laboratory leases can ensure flexibility for growth and provision of equipment, while at the same time saving companies essential money during the start-up or growth process.
You can read here to learn more about the advantages of leasing a shared laboratory space.
Research the Location
If there is something that can make or break a business’s chances of success is its physical location. When choosing your business, remember that it will determine your identity, footfall, discoverability, and growth rate.
So, suppose you have found the perfect real estate property for your project. In that case, you should consider researching the local area, looking at the competition, and assessing essential variables such as local demographics, accessibility to transport, surrounding facilities, and crime rates.
If in doubt, consider the benefits of partnering with a local real estate agent who specializes in the needs of local businesses.
