What To Consider When Choosing Your Next Commercial Premises

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If you’re running a business or some sort of proprietorship, one of the most important decisions you’ll make is choosing your commercial premises. The following contributed post is entitled, What To Consider When Choosing Your Next Commercial Premises.

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Choosing the ideal building for your company can be both exhilarating and stressful, whether you’re shifting premises or finding a property for the first time. With so much to think about that will affect workers, customers, and future success, company owners have a lot to consider before making choices and committing.

Of course, some of the criteria influencing your decision will be determined by your company’s kind of industry, but there are certain universal characteristics that all organizations must consider. We’ve developed a list of items to consider while making that all-important decision for your next commercial premises for those firms in need of additional information before the big move.

Photo by SevenStorm JUHASZIMRUS

Location

Though this list is not in any particular order of significance, location is often a major determining factor when buying a property. For example, if your company is a restaurant or a clothes store, it must be located in an easily accessible location for clients.

The same is true when it comes to employing new personnel. It may well be difficult to attract talented team members if your location lacks appropriate transportation or if their prospective remuneration is insufficient to make the expense of travel worthwhile.

Similarly, think about who and what will need access to your commercial premises. If your new location will be visited by heavy vehicles, make sure it is easily accessible via major highways or main roads. If you’ll be traveling regularly, being near an airport will be advantageous, and clear access routes will save customers from getting confused on their way to appointments.

Potential For Growth

Where do you see yourself in five or ten years? Consider your position before making a choice; the last thing you want to do is spend a lot of money improving your new premises, putting in better windows, commercial metal roof decking, and making it pleasant for employees inside, only to have it grow more than you intended and force you to relocate.

When examining your alternatives, ensure that there is adequate space to handle various sorts of expansion, such as recruiting additional personnel and producing new products. If the site is great, but you believe you will outgrow it shortly, check to see if planning approval for an extension is available.

On-Site Facilities

You may have access to comprehensive on-site amenities depending on the kind of commercial property; bigger business parks generally contain a café or restaurant, as well as a shared community area.

Is your potential property and its on-site amenities appropriate for your industry? Some buildings provide free internet as an incentive, so it’s worth looking around for one that meets your needs.

Customization

This will often be determined by your budget, but you may want to purchase a commercial property that is ready to move into right away, or you might just want to spend less on the original outlay and customize the inside as the business grows. Weigh the cost-effectiveness of both to ensure you’re in the best financial position possible when you move in.

Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.

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