No matter your business product or service, one factor is crucial to all your decisions: your premises or location. Where your building is situated plays a significant role in accessibility and growth. With over 5.5 million small enterprises in the UK, there is no denying how challenging it can be to choose the right commercial space to make your operations easier and provide all the facilities you need, including adequate storage space. Here are some tips for choosing the right building for your business.
- Evaluate the building’s condition
A structurally sound building is the first thing to consider when choosing the right place for your business operation. Meeting health and safety standards is non-negotiable; without that, the chances of serious legal problems are sharply increased. A safe and functional building involves many moving parts and requires several fixtures and installations. You’ll also need to consider how easily you can maintain the place when your business starts operating from there. For example, if your building has elevators, hiring professional lift services is best to ensure they are always in good shape. While evaluating the conditions, it is also crucial to determine whether any recent repairs or renovations have been done. The next thing to check is the place’s size and layout to ensure that it is the appropriate space needed to accommodate all your in-house workers and business needs. Studies have shown that many small enterprises that relocate in under five years do so because they realised late that the building wasn’t appropriate for their operations. You can stop this from happening to your company by ensuring that the option you settle for satisfies or exceeds your expectations.
- Consider the location
Location means everything to your business. Even with the best structures, your company may not perform as expected without a good location’s advantages. Your building must be easily accessible to suppliers, customers, and staff. The more receptive others find your business location, the higher the chances of repeat transactions. For example, a high-traffic location in a retail company will be advantageous because more people will find you. As more people notice your company, you will access potential customers who may stay loyal to your establishment. Suppose your venture is in the manufacturing industry. In that case, your company’s location must be closer to your suppliers and transportation hubs. Moreover, if your target market is within reach, you can be sure your business will operate smoothly. In such situations, you may not worry much about connecting your goods to the end user.
- Assess costs and do due diligence
Sometimes you must pay a little more than the average to secure the right building for your business. In these situations, the long-term benefit is the most important thing to focus on. While at it, doing all the necessary checks is recommended to ensure you get value for money. That is why it is advisable to go through the right processes to ensure that the money you paid for the space goes to the commercial property owner. There have been stories about scammers who posed as property owners and swindled unsuspecting entrepreneurs out of their money. Therefore, it’s essential to be vigilant in this regard. On another note, some buildings are high maintenance, and you must be ready to foot these recurring bills for your business. However, you may have to consider other options if the building in question does not fit within your company’s budget.
