To find a good building space to rent for a business, consider an ideal location, factor in length of the lease and the physical features and size of the space. It is important to set a realistic budget for rent, utilities and real estate taxes.
A good physical location for a business should factor accessibility for clients, employees and suppliers. The physical location should appeal to the target market and be in line with the type of business.
Next, consider the length of the lease. A long-term lease offers security and is ideal for a business that is targeting a loyal customer base and wants to minimize on improvement costs. A shorter lease is more flexible and is better for a business that is testing the market. Shopping around provides more options.
Last, the physical features and size are important factors to consider when looking for a business space. It is important to be clear on both the minimum and maximum space requirements for the business. Space planners help to identify the type and size of space suitable for a specific business and how to use it. Keep in mind future expansion or downsizing when choosing a space. Businesses may downsize where there are plans to outsource certain business functions in the future.