If you want to expand your business operations in 2015, you might have to look for new premises pretty soon. Winning more contracts could mean you require a larger team, and that means you need more space. While you could simply head out to see your local commercial property agents, we think it’s a good idea to do some groundwork first. You want to make sure the premises you select makes sense given your operations, but budget is also a factor you need to consider. So, maybe it’s wise to read through some expert tips and tricks that could make your life easier? At the end of the day, any mistakes you make could affect your company in a negative way. You won’t want to move again after only a few months due to poor selection.
PC: Phil Whitehouse
Consider the Amount of Space you Require
Firstly, you’ll want to take a look at the amount of space you have at the moment, and then make predictions about how much you will need when you expand. While it is a good idea to overestimate, you need to be pretty accurate. There is no point in paying for a 500 square foot premises if you only use half of it. That is a waste of money. Those extra funds could be better spent on winning new contracts and obtaining new clients. If you get stuck, there are many consulting firms that could offer assistance. However, you’ll have to pay for their help.
Consider the Nature of your Operations
Put simply, there is no point in renting a huge factory if most of your team can work in an office environment and vice versa. You need to take a look at your operations and then decide the type of premises best suited to your company. Don’t worry too much about the finer details as alterations and improvements can be made along the way. You only need some basic Lincoln Electric welding equipment if you plan to make renovations to the building. Just make sure you get permission from the landlords before you start changing their premises.
Consider the most Desirable Location
There are many reasons your business might benefit from being based in certain locations. For instance, you might need to be close to your main suppliers or clients. With that in mind, you need to make a list of possible areas before you start looking at available properties. That is a step taken by all successful businesses. Putting too much distance between your firm and those that help to support it could have negative consequences.
Lastly, you’ll want to think about price when looking for the perfect business premises. If you find somewhere ideal that is outside of your budget, consider employing some negotiation skills. Most landlords will be more than willing to work with you to come to a mutually beneficial arrangement. However, you should simply look elsewhere if they refuse to lower the cost involved. If you take one piece of advice away from this post, it should be that stretching your budget is never a wise move.