Choosing And Renting Business Premises
Neil Bromage has run his own small business and is a freelance business writer working on a range of newspapers including The Times, Sunday Times, Telegraph and Financial Mail on Sunday. This book is based on a wide range of columns and Q&As written and answered by Neil for Business Link over a number of years. He is based near Preston, Lancs.
How important are your business premises? Do size, location and comfort really matter? Every business has to operate from somewhere. When you choose it makes sense to look for somewhere that will meet your business’s needs and contribute to its future success.
What are your real needs? There are a lot of factors to consider. Firstly, how much space do you require now, and what might that be in twelve months? Many businesses underestimate their future requirements.
Do you need to be located near your customers or suppliers? Would close proximity to your competitors be a good idea? Do you need to employ specialist people? If so, ask yourself where they are going to come from. If you have regular visits from customers and suppliers, accessibility and parking are essential. Many businesses don’t need a ‘shop front’ at all but if you do expect to have visitors you’ll need to think about the sort of impression you want to create once they arrive.
How long do you expect to be in the property? For many start-ups and small businesses the flexibility of an ‘easy-in, easy-out’ agreement in a lively business centre or workshop units can be ideal. Often this will involve just one month’s notice to be terminated.
If however, you are more established you’ll probably be thinking about leasing your premises on a longer-term arrangement, but it’s probably still best to avoid anything that requires more than a five year commitment.