Location… Location!

How to Choose the Perfect Premises for Your New Business

There is nothing like launching a new business and enjoying the buzz of making your first sale, building up your customer base, and watching your business thrive in front of your eyes. Amid all the excitement of starting a new business, you also have another first that you need to focus on; designing your first business premises. Making a base for your new business is a milestone moment. It provides you with the perfect opportunity to bring together your vision for your business and translate this into a living, breathing home for it.

While designing a base for your business is an exciting prospect, it is something that you need to get right first time. Investing your cash in business premises is a significant commitment, and you must ensure the risk pays off. With this in mind, here are some tips to help you ensure you choose the perfect premises for your new business:

Set a Budget

Before you do anything else, you must calculate how much you can afford to spend on creating a workspace for your business. Setting a budget now can save you years of financial peril in the future, so it is well worth planning your finances carefully before you commit to your new premises. Figuring out how much you can afford to spend on rent each month and then factoring in the associated running costs is a great place to start. Beyond this, you will also need to calculate how much you can afford to spend on decorating and making changes to the building to ensure it meets your needs. So, before you do anything else, there are plenty of numbers that you will need to play around with. 

Focus on Size

As well as calculating how much you can afford to spend on your new business premises, you will also need to consider how big your new space should be. Renting a workspace that is much larger than you need can significantly increase your costs without providing any real value. But, choosing a business space that is only just big enough for your needs could mean that you quickly outgrow your space. Figuring out how much space you realistically need and then balancing this against the cost of renting a property is essential to get the perfect premises for your business. By striking this balance, you should ensure that you don’t pay too much and have more space than you need while also ensuring that you do not run out of space in your first few months.

Reflect Your Brand

After picking the perfect premises for your business, you must tackle the exciting task of ensuring that it reflects your brand. Channeling your creativity to design a space that encapsulates your brand is lots of fun. Don’t be afraid to think outside the box and furnish your office with items such as an Industrial Dining Table for meetings and reclaimed desks and chairs to give it an authentic look that represents your brand accurately.

The post Location… Location! appeared first on Start Your Business Magazine.

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By: Start Your Business
Title: Location… Location!
Sourced From: www.startyourbusinessmag.com/blog/2022/12/08/location-location-3/?utm_source=rss&utm_medium=rss&utm_campaign=location-location-3
Published Date: Thu, 08 Dec 2022 09:27:00 +0000

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