As long as it doesn’t interfere with your business or negatively impact your personal life running your business from home is fine but sooner or later it is wise to switch to dedicated premises especially as customers tend to take your business more seriously.
When it comes to finding commercial properties how long can it take to find offices to let?
It varies, but finding the right work space may take longer than you think. You must be clear about the sort of property you want – size, type, layout – and where you want it. You may need to consider different constraints due to cost or other factors and then there’s the paperwork to deal with. You may also need to fit it out, decorate, or even renovate the space, so budget for as much time as you need.
How important is location?
Location is always important for employees and customers especially if you rely on foot traffic for revenue. If your employees do not have a car they must be able to get to you by public transportation. If you chose an out of town location, you will have to spend more money on marketing and may lose sales from clients who cannot/will not make the effort.
How crucial is sticking to a budget?
You should avoid overstretching. Adding needless expenditures to your budget might be detrimental to your bottom line. Examine your projected sales as well as all other expenditures to determine how much money you can afford to spend on premises. If you can’t afford your dream location in Hinckley, wait until you can.
Should I rent a commercial property or buy?
Historically, purchasing real estate has proven to be a sensible long-term investment. Obviously, you must be able to afford a down payment as well as monthly mortgage payments. If demand exists, selling premises might generate significant profits if you move or close the firm. However, purchasing premises on the other hand, might tie up funds that you will need to build your firm and they offer very little in the way of flexibility not to mention what happens if you need to upgrade/downgrade. As a result of this most firms opt to rent/let their space which is often less expensive and doesn’t require the long drawn out process of a loan.
Wrapping It Up
Don’t make hasty decisions. Before you sign any contracts, evaluate your true requirements, all of your alternatives and the repercussions. Sometimes you have to trust your instincts about a commercial property and take the plunge.
Based in Hinckley, we can offer over 70 units ranging from 100 square feet to 1500 square feet. For more information about any of our services call us today on 01455 633 666.