Buying commercial real estate for your small business

The factors to consider when selecting your office premises.

The factors to consider when selecting your office premises.

If you’re looking to secure new premises for your small business, there a number of factors which you should consider in order to get the best chance of prospering both as a businessman and a property owner.

High up on that list should be the idea of location. As estate agents both on and off the television will tell you, knowing just where to base your place of business is vital in establishing a communicational and logistical status. While a place in the bustling city centre isn’t necessarily the only thing to consider, it wouldn’t make good business sense to go with a remote location that’s inaccessible to all and sundry. A small business in particular will always benefit from having transport links whether by car, train and even plane.

Something else to consider when choosing the town or city to base your small business in is the kinds of people who already live there. Just as you’re hardly likely to see the benefit of opening a nightclub in a town known for its high rate of retirees, so must you consider whether or not you can attract the right kind of customer in the town you choose.

Once you’re settled on a location and have scouted out potential places in which to begin the next phase of your career, you’ll need to plan around how to afford to set up in this new premises. While renting your office might seem like the only sensible option given your funding options, in the long run you still won’t end up owning your office property which is a great shame considering the time you and your colleagues will end up spending there. Mortgage repayments, while a major financial commitment, will generally be no more expensive than simply renting the premises, while you’ll also have the ability to make some structural and more cosmetic changes to your surroundings.

If paying to purchase property isn’t something that can be achieved in the near future, it’s worth discussing your options with commercial property holders like Swift Capital, who can buy premises on your behalf and rent them back to you, giving you the option to retain that vital space without needing to own it. As you make an agreement with the buyers, you’ll always be the preferred tenant; just as you would if you paid something towards the purchase but need a little extra financial assistance.

Whatever the circumstances in your needing to get new premises for your business, there are several things you can do in order to ease the process both financially and logistically.

Related Topics

Business Premises

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