Whatever type of business you run it is essential that you seek out a suitable property to trade from that meets your current and future needs.
When you are searching through a list of commercial property for sale what sort of things should you be looking for and what are the key features that need to be on your list of priorities?
Here are some pointers on how to narrow down your search and pinpoint the perfect commercial property for your business.
Location, location, location
It might be a well-worn cliche but there is no doubt that where your property is located will make a huge difference to how easy it is to run your business from there.
If you compromise on location and choose a more remote location in return for a lower purchase price or rental rate it could be a decision that you subsequently regret for a number of valid reasons.
If you are not in a convenient location for suppliers and customers it could affect your ability to grow the business and function at full capacity. The other key point is that an out of the way location can be a nightmare for employees to get to and that could dissuade some talented people from joining you.
The cost savings from choosing a secondary location could be far outweighed by the difficulties you encounter as a result of your choice.
Location continues to be a primary factor in your selection process.
The right balance of usable space
Every business has varying space needs and if you run a venture that needs a mixture of workshop and office space it is essential that you get the right ratio.
If your chosen commercial premises don’t quite have the right mix for you in their current layout you should make sure that you have the option to change things around if and when you want to.
Look to the future
It can often be a bit of a dilemma trying to decide what size of building you need to meet your current and future needs.
Finding somewhere that accommodates your existing number of employees and production facilities is fine for now but if the building can’t expand and adapt as your business grows this could be very frustrating and expensive if you have to move again too soon.
Try to find a space that is the right size for now but gives you options in terms of expansion plans.
Crunch the numbers
Every business has a budget to work to and being able to afford the rent or purchase cost of your commercial building is a primary concern.
Aim to do all the detailed calculations relevant to your decision-making process so that you know the business can afford all the overheads involved. Signing up for a deal that stretches your finances and hasn’t been costed out accurately could turn out to be damaging for your cash flow and capital reserves.
Make a detailed checklist of your logistical and financial requirements and use that data as a blueprint for finding the perfect commercial property for your business.
