The physical location of your business can be vitally important to its success. If you run a shopfront, you want customers to be able to easily reach you. If you offer fabrication services, you want enough room to create. If you need office space for your employees, you want a location that is central to where they live. Here are three things to consider before making a purchase, if you are considering a move for your business.
1. The Location
It has been said that location is everything, and that is certainly true when it comes to businesses. If you are opting for new construction, be sure to conduct a thorough site investigation to be sure the property suits your current and future needs. If you are purchasing an existing building, a thorough inspection of all building areas is an excellent way to protect your investment.
2. The Size
Once you’ve found the perfect location, chances are that you will want your business to remain there for some time. This means looking at both your current needs for size, as well as your plans for future expansion. Investing in a property that will allow your business to grow, whether that’s through new construction or expanding into other floors of an existing office building, will help you avoid the work slowdown that can come with frequent relocations.
3. The Cost
Another important consideration is how much the property costs, including any construction or remodeling that you will need to do. You may want to budget for unexpected costs, including those that may turn up during the site investigation process. Don’t be afraid to negotiate on the price for that otherwise-perfect place.
Choose your business’s new location with care for your budget, your current customer and employee needs, and an eye for your future growth. These things can keep you in that perfect spot for many happy years to come.
