Choosing the right premises and location for your business can often be the main contributing factor to the success or failure of your business. The key is doing your research, and considering what it is you are selling / providing and how does the location suit you in terms of getting your product/ service to your customers.
In a world dominated by e-commerce, it’s more important than ever to ensure when investing in premises that you get it right, so what are the key considerations?
Firstly, ask yourself;
• Do you need your own premises?
• Is it viable to work from home?
• Do you know someone who provides desk hire or has space available that you could rent for a fraction of the cost of renting a whole office or shop?
You may find that all you need is a registered office and call forwarding service, everything else might be able to be done remotely from home- ideal for graphic designers, accountants and similar professionals where work can be completed on Computers .
If you still feel that you need to buy or lease premises consider the following;
Buy or Lease?
o Buying premises is a huge commitment for a fledgling business. What if you grow, and there is no room to expand? What if the location does not live up to your research and expectations? Of course if you are looking to run a leisure facility, such as a hotel, buying is the better option.
o An office based business though might need to be flexible in its premises, as business fluctuates, or employees come and go you may find that leasing an office or serviced office is the way to go.
o How long is the lease, what is included e.g. utilities, is the broadband adequate enough for the work you will be doing?
Town Centre Vs Industrial Estate?
o If you are selling clothes, you would be best suited to the town centre, but you would need to consider proximity to competitors.
o If however, you are running a gym, you would perhaps be better suited to a business park with plenty of parking just on the outskirts of a town centre. Consider the captive market of site employees, able to use your facility either side of their working day.
o Can your customers and employees get to you with ease, are the transport links good?
Does the address make a difference to how you are perceived?
You may find that certain areas attract certain types of business, and it is important to consider the connotations of your post code. This is where a Registered Office may be a good consideration. The Avanti Group (UK) Ltd offers all clients Registered Office hosting, for a competitive quote, give us a call 01473 558866.