One aspect of owning a start-up business is choosing the premises that will house your work. If you have the funding to purchase a commercial property there are a few different considerations in order to make it a success. Your commercial property will stand out as your home and be key to your branding. Your customers and suppliers will visit your place of business and it has to accurately portray your brand and reputation. The right location can make a massive difference to your ability to grow as a new company, whilst the wrong location can make things stall.
Here, we take a look at the factors you need to get right.
Your location should be located based on a number of situations, including the transport links nearby, whether you need customers only to enter your store, suppliers or tradesmen, or whether it is just a base for you to work from and visit your clients externally.
Depending on the type of industry your start-up business is in the required location for your commercial premises will differ. For instance, large wholesalers, cash and carry businesses for food, equipment and DIY are usually found on the outskirts of towns and cities, often in industrial estates or retail parks. That way they can attract the tradespeople who just don’t want to get stuck in the daytime traffic jam in the centre of town and can easily pick up large quantities of goods at one time.
A start-up company that is a retail operation focused at the everyday public is more likely to consider either a busy retail park on the edge of town, a location with good transport links, or a city centre location where they are likely to encounter larger numbers of footfall and potential passing business.
No matter what type of business you have to always consider how easy it will be for suppliers to access your commercial premises. For some industries it will be vital to accommodate heavy loads in areas where there isn’t much traffic or obstructions.
Once you have chosen the right commercial premises in the perfect location for your business needs it is time to refit the property to your desired specification. Firstly, if you are purchasing a commercial property outright it is your legal responsibility to ensure that all fire regulations are fully met. Check and implement any necessary upgrades and refurbishments that allow you to ensure there are sufficient fire escapes, protective equipment, fire extinguishers and sprinkler systems.
Next up you should completely redecorate and refurbish, using heavy-duty materials and paint to ensure that your commercial premises look bold, bright and clean. One tactic that start-up companies employ to great success is to decorate using their branding, colours and identity.
Purchasing commercial premises is a big deal at any stage of a business, but for start-ups it can be crucial in deciding whether the company is a success or not. Make the right choice to begin with and it’ll provide you with a strong foundation to build from.
You can also join our Google+ Community “Startup in Britain” which is packed with help, resources and articles to get you started. Use it to get tips, advice and start building your network!