Whether you’re launching a small business or planning something bigger, where you work is one of your most important decisions. So if you’re looking for your first shopfront, commercial office or even warehousing facilities, we are here to help. This is Part 1 of the Series.

First things first: start with a thorough audit of the essentials – what your business needs, and what you can afford. That will be an invaluable checklist when you’re location-hunting. And as you go looking for the ideal location, I’ve found there are three things you’ll want to keep in the front of your mind: place, space and time.

Place
The location needs to fit the characteristics of your business model. Here are the key questions I think you’ll want to address:

• Proximity: Do you need to be near your customers to attract passing trade?
• Image: Does your business image determine the area you choose, or the style of office to rent or buy?
• Convenience: Out of town sites are often a good option – trading estates avoid the cost and traffic restrictions of the city centre.
• Parking: How important is parking provision – for customers and staff?
• Home: Is a home base a viable short-term option? Some businesses may think buying or renting property is the right thing to do, but is it always? You can save rent and time-consuming commutes by working from home. If you feel yours is the sort – such as a modern digital business – that can be run from your study or converted spare room, then a home could be the right place to start off.

Space
How much room do you need and what facilities do you require to make your business work well, both now and later? Will those premises allow your business to grow? If there’s too much space for your needs (and your budget) right now, could you rent out the surplus space? How easy and practical would it be to partition off parts of the space as offices for rent?

Time
Wherever you’re looking, give yourself time to scope-out the location fully so that you can assess its customer footfall. Choose your days – footfall may vary significantly with local or other events (like pension day). That’s worth checking so you’re sure to visit on the most appropriate days.

Those Key Costs
Your ideal business base has to fit your budget. We find this eight-point checklist is helpful to ensure nothing’s overlooked:

1. Buy or rent: Consider the pros and cons of both to help you weigh up which option suits you best.
2. Overheads: Make a detailed schedule of the regular bills you’ll have to pay – rent, rates and service charges – and be clear as to whether these will be monthly or quarterly.
3. Facilities: If you’re office-based, you may need to build or adapt bathrooms and a kitchen for employees. Lighting and heating also need to be considered.
4. Communications: Do the IT and internet facilities you want already exist, or will you need to buy new hardware and install broadband and telephony?
5. Furniture: Plan where you and your staff will sit and work – and how much furniture you’ll need to buy.
6. Moving: Prepare a clear schedule of the costs of transportation, decorating and physically setting up.
7. Professional Fees: While there’s plenty of sound operational advice you can access at no cost, such as government and free zone websites, it’s important to budget for the key accountancy, legal and other professional guidance you’ll also need.
8. Stationery: Let everyone know! Don’t forget to budget for essentials such as letterheads and business cards.

Watch this space for Part 2 of the series.