When you’ve put all of your blood, sweat, tears, and cash into a project like a start-up business, you take your work seriously. Finding the right space to take your business to the next level is stressful. You have big dreams and you want to bring them to life as soon as possible. You’ve probably imagined your store front or office space a million times, and it can be disappointing to realize that you don’t yet have the funds to fully bring that vision to fruition. When you’re ready to delve into the world of commercial leasing, consider these tips.
Crunch the numbers
When your business is just starting out you’ll likely find yourself low on cash and dealing with potential credit issues. Opening a new business can be financially risky and as they say, you have to spend money to make money. When you are looking for a new home for your budding business, it’s important to be realistic and fully assess your situation. Spend some serious time figuring out what you truly can spend on rent each month and determine the price tag on taxes, amenities, and other hidden fees.
When you’re choosing a space, you’ll want to think about your brand. You should think about the location, the look of the building, and the physical amount of space. Look at your current office, and figure out what is and isn’t working. Take this information and create a realistic list of needs and a list of wants. You may find that you’ll have to sacrifice aesthetics for price and location. Realize that you can always find clever and crafty ways to make any space sing.
It is a good idea to contact a professional commercial real estate agent when you start looking for properties. The entire process of finding the right space can take between six and twelve months, so it is a good idea to start your research well in advance. Look into different locations, possible competitors, the history of different buildings, and the right ways to utilize office space. Make a list of every question you have and try to find the answers.
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If you have any questions about Tenant Screening or Property Management, please contact Clagett Enterprises at (301) 663-6011. You can also connect with Clagett on Facebook, Twitter, Google+, Pinterest, and YouTube.
Tags: commercial leasing