The emotional toll of economic instability in small business ownership can be exhausting. From grappling for customers to witnessing your cash flow ebb, the drawbacks often outshine the numerous advantages of running your own firm. When you factor in that approximately half of all small businesses don’t survive past their initial few years, remaining with your present employer may seem more alluring.
For those already venturing into the entrepreneurial sphere, there comes a moment when you need to invest in a new workplace. Navigating the leasing or purchasing process for the first time, or upgrading to a larger space, can drain resources and leave you feeling worn out and significantly poorer. Yet, it doesn’t have to be this way.
In an attempt to sidestep feeling overwhelmed or compromising with unfavorable property deals, we suggest you consider our top tips for choosing a business premises without straining your budget…
The World Wide Web Is Your Toolbox
Regardless of whether you are looking for commercial outlets for sale in Surrey or a warehouse in Widnes, your property hunt should start online. By a simple mouse click, you can explore viable options within your budget near you, without denting your productivity.
Location Matters
If you’re familiar with property shows, you know how crucial location is when selecting a workplace. This is doubly important for commercial properties. Subtle elements that you might not even consider like narrow streets can impede customers from window shopping at your store.
Stay Within Your Budget
In the words of Mick Hucknall from Simply Red’s 1985 hit, “money’s too tight to mention”- a sentiment often shared by many small and medium businesses. Therefore, avoid investing in a property that exceeds your needs. While it may seem ambitious and provide room for growth, it’s essential to live within your means when buying or leasing.
Prioritize Ample Parking
With the increasing reliance on vehicles, the era of people walking to shops is fading. Consequently, adequate parking space for customers should be a central consideration when choosing your ideal premises. Overlooking this may lead your frustrated consumers into the embrace of your competitors.
Compete with Confidence
As a novice business owner searching for the perfect premises, facing off with larger, well-established competitors might be daunting. However, a dash of competition can stimulate growth. Provided your product or service offers something unique, there’s no need to avoid a competitive business landscape.
Now, we hand it over to you…
What would be your advice to a small business owner on a quest for the perfect property? We invite you to share your suggestions by leaving a comment below – we look forward to hearing from you.
