Finding Good Commercial Property On A Limited Budget

Finding Good Commercial Property On A Limited Budget

If your business has reached the point, where you are ready to expand and lease your first commercial property this article is for you.

Here we explain how to find the premises your company needs even if you are trying to do so on a tight budget.

Know you budget

The first step is to have a firm understanding of how much you can afford to pay per month for rent and services. Establishing this before you start your search for premises will help you to narrow down your options, and do so quickly.

Stick to that budget

Once you have established your budget be careful to stick to it. When looking for business premises, it is all too easy to get carried away and end up spending more than you can really afford.

Look in the right area

Finding Good Commercial Property On A Limited Budget

A good property agent will help you to work out which areas you can afford. You may want to be located in the centre of the city, but you will find that commercial property in Victoria offers better value for money.

Few start-ups can afford to be located in the heart of town, but you should still try to locate yourself as close as possible to that area.

Room for expansion

It is important to find business premises that are big enough to accommodate your firm as it is now. However, you also need to think about the future.

You are going to want to expand, which means that fairly soon you are going to need more space. It, therefore, makes sense to look for premises that have enough room to accommodate you as you grow.

If you lease offices or workshops in an area where there is plenty of other similar space available, when you need more room finding it will be easy.

You may have to open up in a second office, but provided it is near your original one doing so will be easy. It will certainly be far easier than having to move your whole operation half way across the city.

The right services

If possible, opt for a fully serviced office. The last thing you need when you are setting up in your first premises is to discover that you have to hire a cleaner or that there is no reliable internet connection.

You do not want to be distracted by such matters. Your focus has to be on growing your business and looking after your customers.

Good transport connections

Be sure to find premises that are easy to reach. Doing so will make your life a lot easier.

Good transport links are also important if you want to hire and retain the right staff.  If you know that customers are going to be using their cars to visit you, make sure that there is enough affordable parking in the area.

Try not to rush into finding your first business premises. Remember, this is one of the most important business decisions you will have to make.

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Poppy loves personal finance almost as much as she loves her two cats, Tif and Taz.
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