New Venture: How To Pick Your 1st Premises

It can be very daunting having to take on your first commercial premises. So here we are proving a quick guide to the key things that you will need to consider when choosing your first premises.

Know What You Need

The first thing to know is what type of premises your business will need. For example, a retail shop will need a store but who are the customers? Is your business niche enough that people will make a special trip or do you need the passing custom, then you might need a town center or retail park location. If you are not a retailer you might be able to take a more industrial location.

Consider Your Budget

Often the location, as we’ve just described, can determine the cost, but also the size of the premises and the condition of the building can affect cost. Be sure you have a figure that you need to work within from your business plan and be sure that you don’t stretch this too far as to get yourself in financial trouble.

Take Care Of Legalities

You will be sure to want to have a lawyer take a look over any lease you sign as with commercial property you can be liable for all sorts of repairs and maintenance which can be really costly. Also, you will want to pay for a full and thorough survey and although this can be costly the cost of being billed for repairs you are not responsible for can be much more, for example, if you don’t accurately record the condition on entry then you can be charged for completely renovating the property on exit.

Get The Location Known

Once you have chosen the location people must know where you are and getting a good online presence, including location services such as Google Maps. All your online promotion can be done by a professional contractor and if you follow these strategies you should be OK.

Length Of Contract

Be sure to check what length of contract you’ve been offered as often you can negotiate changes in this. Sometimes you can get a shorter lease if you ask or even get cheaper rent or a certain number of free months if you take a longer one.

Pick What Type Of Signage You’ll Need

You will want customers to be able to find you easily and for this you will need to chose what type of sign to put on the building? If it is a shop maybe a lit sign is most appropriate but if it is in an industrial estate you may need signs on the fencing as well as the building. Find a good signage company and they can help choose, design and even install the sign.

What About SecurityIf you are in a shopping mall or other secure complex security may be provided. Otherwise, it’s something you are going to have to take care of yourself. CCTV and alarm systems are not as expensive as they once were and there are solutions to suit all sizes of businesses.

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