Choosing business premises is an important part of your business plan. Your premises is your shop window, so getting it right is vital. It will be the hub of your business and if you want it to flourish and not flop make sure you spend the time getting the premises right. Here are some of the considerations you may want to make when choosing your business premises.
When it comes to your business premises it is all about location. Location is everything. You need to think about where and why your business needs to be located. Do you need to be near a customer base? Suppliers? Business partners? Proximity for meetings? What about your employees? Another determining factor in location is cost. How much is the location you are looking at? You may want to be in the hub of the city centre but can you afford it? Do you need certain facilities? Transport links? Start by asking all of these questions and listing the answers in terms of priority. Once you have worked out the most important aspect you can start your location search from there.
Space and size
Getting the size of the premises right is also an important consideration that could save you money in the long run. You want to choose premises that you are unlikely to outgrow quickly but that also provide you with sufficient space to undertake all the activities you need. Do you need privacy? Separate rooms? Or perhaps you are better suited to an open-plan office layout. Note down the needs of your business and what you are looking for before you actually start looking. This way you won’t waste time looking at unsuitable properties. \
The look and feel
The look and feel of any business premises is key. You want your employees to be comfortable and at ease in their place of work. Equally, you will want customers to be happy to be there. The use of lots of natural light, for example, is proven to increase workplace productivity. The look will need to reflect the type of business you run and you want people to identify your business at first glance. If you run a vintage craft shop you want to reflect this in the style of your premises. If you run a medical clinic then you will want to ensure the look is professional and sterile to instil confidence in your customers. The good news is that even if your proposed premises doesn’t have the right look straight away as long as it has potential it is a consideration. If you have found the ideal space in the best possible location then consider hiring professionals to give it the look you need, just be sure you budget for it. Medifit, for example, specialises in transforming business premises into the perfect medical or dental premises.
Cost is always the most decisive factor. You want to get the balance right between affordability and meeting your needs. It may be tempting to opt for a ‘make do’ premises because of cost but will this end up costing you more in the long run? Are you better off paying more to make more? Are there any hidden or escalating costs over a set time period? When it comes to cost and affordability it is always recommended you discuss this with your accountant who can carry out a detailed costs benefit analysis to inform your decision. It is also imperative that you have a legal professional go over any contract you may be required to sign when it comes to undertaking new business premises.