When shopping for a new commercial property for your business, have in mind a list of specific features needed to provide an effective setting in which your company can flourish. A carefully-selected location can have a significant impact on your business success, so it is important to decide which features are essential to support your company’s objectives.
When you’re browsing commercial property for sale, location is important, especially when your business is dependent in traffic in a physical location. Your new property will need to be able to comfortably and safely accommodate guests, consultants, clients, and others.
Outside the building, you may want to decide whether parking facilities are required or if nearby parking options will suffice. Entrances to the building should be clearly marked and readily accessible without being impeded by weed overgrowth or trash bin placement. It may be desirable to find a building location near businesses that are similar or compatible with your company’s operations.
When budgeting for new company workspace, whether by rental, lease, or purchase, consider not only your immediate operating needs but also prospective long-range growth opportunities. A balance is needed between paying for a reasonable workspace cost to handle current production needs and acquiring additional space for the not-too-distant future.
Evolving company objectives should also be considered when choosing a new building to determine whether spaces currently needed will continue to play a major role in future operations. For example, if production will be transferred to another region within five years, or if more employees will be working from home rather than at the office, these are factors that should be part of the planning process.
Functionality and Aesthetics
An aged, poorly-constructed, or debilitated facility can create a negative image for the company as well as compromise business objectives. A building that requires substantial upgrades or repairs may not be worth the rent or purchase cost. Interior décor that needs to be updated can be expensive as well. Utility improvements for plumbing, electric, or HVAC should be factored into the budget.
While many amenities are nonessential, they often help to improve productivity and company morale. Up-to-date restrooms, a break room, and a conference room furnished with functional equipment and technology are features that have become expected in doing business today. Attractive offices, well-maintained production areas, and an inviting reception area may seem gratuitous but are actually pretty standard in successful companies.
Decide which features your company needs and find a balance. If you need an easily accessible location for customers, location will be a priority. Alternatively, if you have a large number of employees but clients rarely visit, you should put size higher on your list than location. Then find a suitable workspace that fits your budget.