How to choose the right commercial let for your small business
The right location and space for your business can have a massive impact on how successful it is, so choosing the right space is an important decision. Studies have shown that the right working conditions can impact your employee’s experience, influencing productivity and worker satisfaction. With a wide range of spaces available to lease and buy, the choices can leave you feeling spoilt, and a little confused. However, keeping a few things in mind can make the process much easier.
Choose the right space for your business needs
Spaces for small businesses are as varied as the companies themselves, so you shouldn’t ever have to settle for taking on one that doesn’t suit your needs.
It isn’t only serviced offices that are well catered for, food businesses like catering companies and food trucks can find dedicated commercial kitchens to rent. Some providers, like Dephna, offer commercial kitchens in buildings with other related services for small businesses, such as cold storage and small offices.
If you’re not looking to scale up your business into a permanent space, but want to meet client in a more professional room, you can consider hiring out meeting and conference rooms. Many serviced office spaces offer you the chance to hire out meeting rooms for the hour, or the day, depending on how much time you need. This gives you the chance to host meetings professionally while still working on building up your business.
Consider leasing versus buying
Buying your own space can seem like a good idea, helping you save on high rent, especially in big cities and popular areas. But leasing an office ensures you don’t have to worry about many of the upkeep costs and fees that come with ownership.
Letting a space ensures that the responsibility of the property and facilities falls in the hands of the property owner rather than you, giving you one less thing to worry about as you work on building your brand. Buying is better suited to established brands of larger size. Small businesses and growing companies should focus on leasing to allow for further growth and flexibility.
You may also consider going for a full serviced office, rather than a traditional leased commercial space. This ensures your space will be fully equipped with all the essential amenities already in place, such as phone lines, internet, and even desks and computers, giving you the chance to simply show up and start working. However, leasing your own space also gives you the chance to organise and layout your office the way you want and need it.
Think about the location of your commercial space
Choosing the right location for your business is vital, as it can have a massive impact on trade levels and employee productivity, as well as your rental/lease spend. Depending on your business, you may choose to be close to passing trade, or nearer to clients to make business meetings easier.
You should also consider how easily accessible your business is – if it’s difficult to get to your location, then this could impact how easily staff can get there, as well as any clients and customers. You ideally want to choose a space close to transport links, as well as a space that has some car park facilities.
If your business includes delivering or receiving goods on a regular basis, you’ll need to take this into account as larger storage locations will often be located further out from city centres. There may also be delivery restrictions in some area.
It can be daunting picking a property for your small business as you scale up, but knowing what to look for makes the process much easier. Leasing a property may be the smarter move for small businesses, as it will allow you to scale your space up and down as you need, and when you can afford it.