Whether you’re expanding your business or starting fresh, finding the right commercial space is key. Here are three important topics to keep in mind as you hunt for your perfect property: location, space, and budget. Read on for more detail on each!
The Location.
- Does the site see heavy traffic? Depending on the nature of your business, foot and vehicle traffic might be critical to success. Foot traffic surrounding your commercial space increases the foot traffic into your business. When cars drive by and see your logo, it’s great advertising!
- Is it easily accessible from major streets or highways? If you are directing customers to your business, be sure you are easy to find to extend your client base beyond the local population.
- How is the neighborhood perceived? A neighborhood with a good reputation and other quality companies will naturally bring in more business. Make sure the space for lease is in an area where you feel safe.
The Space.
- Is the ideal space for your business a stand-alone building or would your potential success be better in a shopping center? The amount of square footage needed may help decide your ideal type of space.
- Does the space offer what you need regarding accessibility, technology, and an efficient layout? Consider if you need the space to be handicapped accessible. Do you need a conference room or a break room? Can employees or products be arranged effectively?
Your Budget.
- Do you have a monthly budget in mind for rent and expenses? Is your business currently taking in enough revenue to cover those costs? Ensure you fully understand the monthly lease amount, utilities, and other expenses such as internet, interior design (paint and furniture), printer, etc.
- If you plan to grow your business, can the space grow with you? Is there room to expand? How will this impact the budget?
When searching for a commercial lease, it’s important to keep in mind three key factors: location, space and budget. By focusing on these main points, you can streamline your search process and find the perfect property for your business. If you need help finding the right commercial lease or have any questions about the leasing process, don’t hesitate to call the experts at Bluewater Properties. We’d be happy to assist you in any way we can!
