This post was a collaboration and may contain affiliate links. Keep the right things in mind as you search for that perfect building to house your business. It’s vital to let your head rule, and not your heart…at least, mostly. This is one of the crucial business decisions you will make. After all, this is where you will spend much of you time and it’s where customers and clients will find and visit you. Because of commercial leases and/or mortgages, you can’t just pick up and walk away if it doesn’t end up fitting your needs. Before you sign on the dotted line, ask yourself these 4 questions for finding the perfect building for your business.
Finding the Perfect Building For Your Business #1: Is it In Good Shape?
Is the building on your radar up to date, clean, and sound? If not, you are willing and able to bring it to modern and functional standards? Buying or leasing a property that is not ready for your business to move into straight away is just asking for trouble. Yes, I do understand that minor remodel and changes may need to be done anywhere, but don’t push it. You don’t need the hassle and expense of major construction or repairs at the beginning of your venture. That said, if you or your friends and family are handy and can bring things up to par, you might consider a fixer upper.
Finding the Perfect Building For Your Business #2: Will It Fit the Future Growth of Your Company?
You may find the space and location offered by the property adequate right now, but have you thought about the future? Though you can’t know for sure what will happen, you can make some predictions. For instance, maybe you love a charming small space because it’s near a town you love. Well, the small space may not even serve your needs in a year’s time if you grow the way you plan to. It would be better to look for something larger in your budget that will be viable longer.
Finding the Perfect Building For Your Business #3: How Will the Location Affect Your Revenue?
Location is one of the most important things of all when you are choosing a building for your business. Think about your commute, how customers will find you, and even walk in traffic. If your business does rely on passing trade to survive, find the most visible and accessible place you can. I’ve seen outstanding retail businesses fail because their location wasn’t the best. Also, consider the vibe of the area and the types of people who visit it. A laid back, hippie style area may not be the best place for a stuffy law firm. You get the picture.
Finding the Perfect Building For Your Business #4: Does It Meet Your Needs?
Take an inventory of your present needs, as well as the changes you predict for the term of the lease. Tell you realtor everything you can think of, so he or she can show you properties that meet your needs. There is no reason to waste time on ones that will not work. If you plan to purchase, this is an investment that you may want to make money on later. Because these are two different needs, think carefully about which is best for you and your business.
Depending on the type of business, you might consider purchasing a steel building. You will need some help from an expert to determine space and cost of such a building. For example, purchasing a 10000 sq ft steel building cost might be in line with your budget, but consider any additional costs you might have, as well, to erect and customize it. There are always costs you didn’t see coming when you’re dealing with any type of construction.