Whether you are a start-up just getting started, or your business is growing, you are likely asking yourself how to find the right commercial space for your business. Finding the right space can be a daunting task and you might not know where exactly to begin. Here are some tips we’ve gathered to help you find the right commercial space for your business.
List options and features
Your first step should include listing out features that are most important to you and your business. The location might top your list if you’re a retail business, whereas open space and character might be more important to a technology start-up. Keep in mind your business goals and future growth to help you determine the size of commercial space you will need.
Narrow location options
Once you have a list of desired features, you can meet with a real estate broker to help you narrow your search to a few location options that check the boxes on your list. Make visits to each location to get a feel for how these locations fit with your business. Do they fit the vision and culture that you had? Are they in a good location for your employees to travel to? Are the locations safe? This will help you narrow your options further.
Consider your employees
The way that your employees work and thrive in your business are going to be important considerations when you’re looking for the right commercial space for your business. Do you need offices for executives or managers? Do you need a space that can be customized? Are you going to need conference rooms or other spaces for your employees to collaborate? Survey your employees to find out what they value in a new workspace. Involving your employees in the process can lead to happier and more productive employees once you make the move.
Do additional research
Once you have found a space that has all the features that are important to you and your employees, do some additional research about the rental or sales prices in the area. This will help you determine if you are getting a fair price for the right commercial space. Also, be sure to check historical data on yearly price and rental increases over the years to determine if the commercial space is affordable in the long term.
Take your time
In your hunt for the right commercial space for your business, it is perfectly okay to take your time. Don’t settle for just any space. When you have found the right space for your business, take extra time to read through the terms of sale or lease. When you’re leasing commercial space, it is important to understand what is covered in the lease, what you will have to pay for, and what maintenance you are responsible for. Have an attorney and real estate broker comb through these agreements too.
Finding the right commercial space for your business doesn’t have to be daunting. Remember these tips, and call WSI Moving to help you with your move when you’ve found that perfect space! Call 970.568.5210 to get started today!