Choosing a Business Location - what do you need to take into account?
PallMallOne of the major considerations when firms plan to lease
business premises is whereabouts to actually look in terms of
physical location. So often, availability impacts the areas
in which you can look for space. However, it's worth taking
location more seriously. Here are some of the main factors to
take into account when choosing a commercial property to rent:
The level of passing trade. If you work in a
sector that relies on passers-by - retail being the most common -
then the level of passing trade can have a substantial impact on
your success (or lack of it). Even office-based firms working
remotely can benefit through the general awareness that comes from
being based in a busy area.
Any competitors that are in the area. Though
there are some industries - estate agents are a common example -
which benefit from being located in a cluster of competitors, most
will find that being located in close proximity to rivals in your
sector is detrimental. Ensure you're aware of everything.
Transport links and parking. Having high-quality
transport links and affordable local parking won't just benefit
your customers: it'll also help your employees. The last
thing you want is employees having to pay hundreds a month just to
drive to work and park there.
Delivery restrictions. If you work with any kind
of physical stock, then it's vital to ensure that your suppliers
are able to easily access your premises and that regular deliveries
won't present any kind of problem. A lot of suppliers won't
want to maintain relationships with a business to which deliveries
remain an issue.
Are there any planning restrictions? One major
consideration that strangely often slips through the net is
actually checking whether or not the landlords will be happy to
have your business operate in their property. Industrial
work, for instance, usually leads to some form of wear and
tear. Check that the building is suitable for the use you
have planned!
Are there any local amenities in place? Again,
this is as much for any employees as it is for customers.
It's reasonable to ensure that your employees have access to things
like food stores and amenities such as banks or post offices.
Generally speaking, the more facilities available the better.
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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.