Buying your very first commercial property is exciting, but it can also be pretty daunting.
Unlike when you lease a property, moving out after just a couple of months because you realised the space wasn’t quite right isn’t an option. At least not without a huge amount of hassle.
This is a decision that you need to get right, and will be huge implications for the future of your company. Get it right, and these implications will be incredibly positive and could be exactly what you need to take your business to the next level.
Get it wrong and the negative consequences can be severe.
Buying a commercial property is a big decision and a big investment so it is important to do as much research as possible before you make your final decision.
Fail to prepare or prepare to fail might be a pretty cheesy saying, but it is certainly relevant when it comes to buying commercial property. This is one of the biggest investments you will ever make in your business and one of the most important to get right.
In this guide we will give you some top tips on what to look for on how to find the perfect commercial property.
Identify the perfect location
The perfect property in the wrong location is not the perfect property at all. Location is everything when it comes to buying commercial premises, especially if your business requires your customers to visit you in person.
The nature of the property itself is also important. How big does it need to be to house all your staff? Is there parking nearby? What is the first impression like for any approaching clients? These are all questions that you need to consider.
Identifying WHERE you want your new business premises to be should be the first thing you do, before you even start looking at properties themselves.
Consider Security
Finding the perfect business premises means nothing if you are unable to keep it secure and protect your staff, assets, and customers when they are on site.
Consider the security threats in the nearby area and take the time to research the security risks you may have to deal with. Of course, once you own the property you can install your own security measures in consultation with Select Solutions property services or a similar security professional but you can’t change where the building is.
Consider the transport links
You want your premises to be as easy as possible for customers and staff to get to. Sure, if your services are that much better than your competitors your customers may be willing to go out of their way to come and see you, but this certainly isn’t the recipe for growth.
Consider the transport options nearby your prospective new site. Can you get there by train or bus? Is there sufficient parking nearby? Are you close to where your target market lives?
In a world where convenience is king, if the answer to any of the questions above is ‘no’ you might be better off looking elsewhere.