When it comes to getting the right location for your business, there are a lot of things you need to consider. You need to think about how well the type of premises suits the needs of your business, both now and going forwards, and you need to think about how much a new premises will cost. Getting a suitable location and premises that you can grow into over some time is essential. The last thing you want to be doing is moving into a location that you may be possibly moving out of within the next 12 months. Finding a location and premises that work for your business can be challenging, and you may even have to make compromises along the line. So, start writing down what you need, what you must have, and, potentially, what you could go without.
Physical Location is Everything!
If you have customers or even clients visiting your business daily, you will need to put location at the top of your wish list. Having a location that is easy to find and accessible is essential. Of course, premises that are well located may come at a premium, but you have to weigh up the cost against the return. If you are not readily or easily accessible, will your bottom line suffer as a result?
Sourcing Suitable Premises
When it comes to finding the right type of premises, you need to conduct your search both online and in-person (where you can). Sourcing a suitable premises may take longer than you anticipate, so always give yourself time to find a new location and give yourself enough time to physically move to a new location. This transition period could be weeks, or months, depending on where the new premises are, and of course, how much equipment and stock you have to move.
Long Term Growth Plan for Your Business
When suitable sourcing premises, it is essential that you do not choose somewhere based on cost alone. Think about how the location will suit you in the coming years. Does the location have room for growth? And if it is leased, is there potential down the line to buy or purchase what you can now lease? Planning out your growth over at least the next 5 years will allow you to see if the premises and locations you are looking at are suitable.
Using a Moving Service
Moving premises and location for your business are just as stressful as moving house is, and one way to take away the stress is to use a professional movers service. Of course, trying to move everything yourself while maintaining a business is no easy feat. But, taking on the support and assistance you require makes good business sense, and it will ensure that the standards you pride your business on stay the same, ensuring that they do not dwindle in the process of moving and changing over locations.
Costs to Consider
One major cost you must factor in is the price of the location or premises you are looking at. If you are looking to purchase somewhere, you will have higher costs and outlay, but over time you will be able to recoup your costs. Whereas, if you rent or lease a location or even a unit, you will be paying monthly for an initial period of around a year, and, then after this initial period, you are at the mercy of the landlord, who may decide to push the rent up.