Deciding where to base your business is one of the most important decisions you will make. Get it right and your company will have the best possible chance of succeeding. Get it wrong and it could cause your business to fail.

Here are some essential factors you need to consider when deciding on a business location.

Suitability

How much space does your company really need? What facilities are crucial?

These may seem like simple questions, but in the rush to secure a commercial property, they can quite often be overlooked. Some businesses may get seduced by a particular location, only to quickly find they are paying over the odds for entirely unsuitable premises.

When searching for warehouses or industrial units, consider what type of loading area you require, and whether you also need an office facility. Do you need a number of different rooms or one large storage space? Asking these types of questions will ensure that you identify only the properties that are suitable and can help your business to grow.

Demographics

Where do your customers live? There is very little point in opening a shop if none of your target audience lives nearby!

By analysing who buys from you and why, you will also be refining the locations that best suit your business. While a flashy store on a new development might seem impressive, you may find yourself with low sales but high overheads if nobody is interested in your services.

Do you need to be in a city, or could a town centre or even village be a better base to try out a new business idea? Some companies with lower value products will require a lot of passing traffic and footfall, while others who focus on luxury products may not. Choosing an out of city location might be a good way to take advantage of lower rental costs, and build a customer-first reputation

Infrastructure

Accessibility plays a major role in encouraging customer purchases. Being situated next to a main road can be great for some businesses, but if there is nowhere for potential customers to park then many people will just keep on driving.

For manufacturing and distribution companies, premises should ideally be within easy reach of the motorway network, making stock deliveries quick and easy. Businesses looking for office accommodation need to consider wifi and telecommunication connections.

To attract the best employees, public transport is also a factor. Basing your company near to railway and bus links could give access to a wider pool of workers.

By taking your time and assessing all available property options, you are creating the best environment for your business to flourish. We have a number of locations across the UK that are suitable for a wide variety of businesses. Our commitment to providing flexible leases ensures that there is no need to commit to a long term rental contract

— Pall Mall Estates have a wide range of low cost commercial properties across the UK.

Take a look at our available spaces here or get in touch with our experienced team here.

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