Finding a new space for your small business can often feel very stressful. There are many factors you have to account for: is this location right for my business? How much can I spend? Is this the best move for my type of business? It can be a daunting task. However, it should be exciting! These fresh new starts can be something great for your business. Here are some tips to help improve your experience and find the perfect space for your small business!
1. Know Your Needs
You must know your budget. This will help you identify the best listings with all of your criteria that will not break your bank.
You also need to consider the possibility of expansion. As a business owner, you need to know the limits of where you can expand to. If you are looking to exponentially grow your business, look for spaces that will allow you to expand.
Lastly, location is everything! Consider everything: public parking, customer/client locations, access to highways, and the proximity to the kind of clientele you are aiming to attract.
2. Leasing Might Be For You
If you can’t find a space that fits the future of your brand, find one that fits the brand and where it’s at now. With a lease, you can always look for bigger and better when the time comes. Not to mention, the risk is much lower with a lease than a buy, which is especially useful to first-time business owners.
3. Consider Your Industry
Being in proximity of like-businesses often brings more traction to your business. For example, people are more likely to visit doctors in a medical complex rather than a free-standing office. Healthy competition is a good thing! Retailers, especially, benefit from being in close proximity to one another. If one store doesn’t carry a customers needs, they would rather jump next door, rather than driving ten miles to go get it.
4. Always Have a Plan
This is a big move for you and the future of your company. Always do some critical thinking and strategic planning before rushing any decision.
5. Have a Commercial Real Estate Agent!
Allow us to take the stress away from you. You deserve to be excited about your new venture. Trust the best for your newest move!
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