5 Factors To Consider When Opening A New Location

You are running your own business, things are expanding quickly and the time has come to find a new location to set up your business premises.

Looking closely at your business plan, you can find out how much you need in your budget to buy or rent the ideal premise for your business needs. But, how do you begin and what do you need to think about? 

Let’s have a look below: 

1. Networking Connections 

Every business owner knows that networking is one of the keys to the business.

Making connections with other businesses and people can help to give you inside knowledge of business premises available and how to find the right prices.

Talk about how you are looking to relocate when you are networking and may find that you end up with a better deal or advantage over bidding against other businesses. 


2. Using An Agent 

Finding a business premise might not be as easy if you are doing it yourself.

Using an agent can help you to find the best deal, and the best location, and give you insight into the local area and the right price to pay.

At the end of the day, choosing the right business premise can save you money in the long run so it is important for you to make the right decision the first time. 

3. Building Essentials 

You need to make sure you look at all the essentials when you have secured your business premises.

Think about gas, electric, water, phone services, internet, sheet metal fabrication services, and more.

Make sure you look for the best deal and rates available. If you can secure fixed costs for your utilities it could save you money going forward. 

4. What Equipment Do You Need? 

Next, you should look at what you need in terms of equipment. For example, desks and chairs for the offices and forklifts for the warehouses.

Many supplies can be purchased using a trade account, which could give you some time to pay it off.

Buying in bulk could be a good idea for any stock that you need to, it gives you more bartering power. The better the deal you can get, the more you are going to save. 

Remember that staff comfort can affect productivity so getting the right equipment for the job roles is an essential part of setting up your business workspace

5. Sorting Building Issues 

If the building has any issues that you need to sort out, do this sooner rather than later.

If you can address them before you move into the property, you are much more likely to get it done rather than needing to work around employees or equipment.

You need to also put in a plan for ongoing maintenance.

Bottom line 

If you consider these areas, you should be able to find the right building premises for your business.

One that not only suits your needs but can fit into your budget. Do you have any other things that you should be looking out for?

Please share them below. 

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Post Author: Abimbola Joseph

Abimbola Joseph is a creative content developer who derives pleasure in encouraging individuals to be the best they can be in all relevant facets of life. She believes that we all have a better version of ourselves which can be leveraged to impact others and make the world a better place. Connect with me on Instagram @abimbolajoe.

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