Finding the Right Commercial Property for Your Small Business

Setting up your own small business or expanding from working at home to working in an official and professional commercial space is by no means an easy feat. But by securing the right commercial property to suit your needs straight off the bat, you can save yourself a whole lot of hassle and stress. So, to help you along the way, here are some sage pieces of advice that could help you to learn the perfect commercial property space without a problem!

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Office Space

First, let’s focus on office space for small businesses. Now, securing appropriate office space as a small business is notoriously difficult. Increasing numbers of commercial property owners are requesting that you agree to a longer lease in order to reduce their own costs in regards to regular re-advertising. However, small businesses can be relatively volatile, and you don’t want to sign up to a long term contract in the early stages of your business. You never know when you might decide to call it a day, or when you might have to move to a larger office space in order to accommodate success and expansion. The commercial spaces that are on offer in desirable locations also tend to be extremely expensive, which can be difficult if you have a limited budget. A good solution when it comes to securing the perfect office space for your small business is Novel Coworking. Novel coworking aims to unite two or more small businesses in a desirable office space. Essentially, you would share your office space with other unrelated professionals and businesses. This means that you can all benefit from lower commercial rent costs at the same time as setting up in a high-quality, productive environment.

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Retail

Another common form of commercial property is property where you can set up a retail store. These properties are drastically different to office spaces, as they are purposefully designed for accommodating large quantities of stock, as well as showcasing stock in its best light. When you look for retail properties, you should consider the following factors very carefully if you want to experience as much success as possible.

Location

Location is key when it comes to retail. You need to look out for properties in a prime location with plenty of traffic and footfall passing by. This will mean that you expose your brand to more people and that more people are likely to pass through your doors, browse what you have to offer, and perhaps make some purchases. Sure, prime locations may come with a higher price tag. But generally speaking, the investment will be more than worth the results.

Window Space

Your retail store should have plenty of window space. This will allow you to create eye-catching window displays that can draw potential customers or general passers by into your store. Without a window display, people won’t be entirely sure what products or services you have to offer and will walk on by into the arms of a competitor.

Out Back

Sure, you might find a store in a prime location, and the front of a store may look perfect for your needs, but you need to make sure that everything out back is ticking your boxes too. Every retail property should have plenty of storage space where you can keep your stock. You’re never going to be able to put all of your stock out on the shop floor. Instead, you should have examples and then draw different sizes or options to purchase from your stock room which should be located away from customers. You should also ensure that there is some sort of office space where administrative tasks can be carried out, a small room where you or staff members can take breaks comfortably, and a bathroom for your use and staff use.

As you can see, there’s a whole lot that goes into securing the right commercial property for your small business’ needs and there are also plenty of differences between areas of importance in office spaces and retail spaces. But hopefully, the above advice will help to guide your way effectively. Remember to take your time when browsing potential properties and to not let yourself be rushed into a deal. However, if you see something and find that it is practically perfect, it’s worth snapping it up before someone else does!

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