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. Following up with our Part 1 of this series, please read below for the final part.
Whatever location you choose, you’ll want to be sure there are no surprises that might impact your business. So equip yourself with all the essential safeguards:
- Planning: Are the premises fit for purpose? There may be planning or other restrictions on the use of the site and affecting the alterations (toilets and kitchens, for example) you may want to make. Consider the time that this could take. And also think about whether residential neighbours might be upset by your business.
- Insurance: Wherever you work (even at home), it’s important to get proper advice about the right kind of insurance.
- Mortgage: If you’re buying, be clear on mortgage terms and seek appropriate legal advice.
- Safety: Check current health and safety requirements to ensure you’re providing a safe environment for yourself and your employees.
Ask the Experts
There are obvious places to begin searching for an ideal property, such as commercial property agents, estate agents, newspaper listings etc. Commercial property agents offer perhaps the best route to finding the right office for rent or premises for you, as their experience and knowledge can help find the location to suit your needs.
A good commercial property agent will demonstrate four fundamental skills, each giving you reassurance that they’re working effectively for you. These are:
- Communication: They should listen clearly to what you need and put your priorities first, not just try and fill any properties that have lain empty for considerable time. They should also express their ideas clearly to you, thereby showing they understand your exact specifications.
- Area knowledge: By understanding the local commercial property market, they’ll find the most suitable premises for you. Expensive problems and costly delays can be averted with an agent with extensive area experience.
- Persistence: They should be continually working to find the right commercial premises for you. The property characteristics you need may be difficult to find in your area and so the search may be extensive and lengthy.
- Time management skills: Although searching for the right property may be time consuming, good commercial property agents should organise their research efficiently. By doing so, they can react quickly to new opportunities as they arise, helping to provide you with the most suitable commercial property.
But how can you be sure a commercial property agent is giving you a fair price and service? Asking business peers is perhaps the easiest way – and also a good way of getting recommendations for an agent – but government agencies can help too.
That’s Not All
Startups often benefit from sharing services, so it’s worth researching businesses locally to see if there are others with similar needs. Some schemes are specifically designed to exploit these sharing opportunities:
- Enterprise zones: There are many Free Zones designated to offer a combination of financial incentives, reduced planning restrictions and other support to encourage the creation of new businesses.
- Business incubators: These typically provide intensive support to help the launch and early-stage growth of new businesses.
As well as sharing services, many enterprises have obvious complementary businesses they can work with. They don’t share services as such, just premises, but their offerings are seen by consumers to perfectly match. The rise of coffee shops in book stores and car washing and valeting services in car parks reveal the power of complementary business arrangements.
So what are the best premises for you? Only you will know, but sourcing information to support your decision could be the key to ensuring you have a business home that matches your ambitions and hopes.
