You want to start your business? You've planned on the type of business which you want. You want to start it right at this very moment...
Now that you've made a decision that this is the perfect time to open and serve in the market that you've chosen, it's best to ensure that everything is ready. Finances: check. Suppliers: check. Manpower: check. Place of business: none yet. Oops! You've missed one important factor when starting the business. Yes, the commercial space.
In the current economic condition that we are in, it is more effective to rent a commercial property for your company rather than to purchase, which will entail greater cost and will take more time to find. In order to get the most benefit from renting a commercial property, think about the hints below:
Size
The size of commercial space that you would like to rent must be proportional to the size of business that you want to start. You have to take into consideration the number of people that needs to be accommodated in your business. Always take into account not only the present, but the possible development, which will also mean extra requirement for space. Remember that some commercial properties offer provisions for expansion if required.
Budget
Usually, a smaller office will definitely cost lower than a bigger one. A commercial space in a city will surely have a higher rent when compared to a space in an urban area. Will there be deposits or extra costs? Having these in mind, you will surely need to examine your budget before you sign that leasing agreement.
Location
The location of the commercial space must be suitable for the business that you have in mind. You must take into consideration the clientele that you're going to cater for. The proximity to the clients or your market should specify your choice of office address. Security, accessibility and convenience are the 3 most important things that should be considered in choosing your commercial space.
Contract
Most, if not all leasing contracts of business or commercial spaces are usually longer when compared to non commercial ones. Ensure that the appropriate terms are mentioned and well defined on the contracts between you and the exact property owner. Most agreements are subjected and opened for evaluation at a certain time, during which the modifications on the contracts may be mentioned and amended according to the parties' discussions.
Parking
At this point in time, cars are taken into consideration an absolute necessity. Make sure that your commercial space will have a safe and large parking area to accommodate all your clients and staff.
Amenities
Is the air conditioning system good enough? Will you need to change the lighting or internal design to suit your business? Will you be renting a fully furnished commercial space or do you need to bring in equipment and furnishings? These are questions that may help you decide if a place is perfect for your business.
Safety
Are the fire escapes, fire sprinklers and fire alarms working properly? In the case of emergencies, will the evacuation routes lead your people to safety? It is most important that you make sure to check for the safety compliance records of the commercial property, not only for your own protection, but for your clients and staff as well.
Now, have you completed your checklist? Those already mentioned are just some fundamental things that you should think of before signing and agree on that leasing contract. Choosing a commercial space may sound simple, but surprisingly, the success and development of your business, could depend on your choice of commercial space. Happy Renting!
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