How to choose premises
- 1 Identify the type of premises you need for your business (eg office, retail or light industrial premises).
- 2 Consider how accessible the premises need to be for customers, visitors and for employees travelling to work (eg parking, roads and public transport).
- 3 Determine your space requirements.
- 4 Plan the type of layout you will need, taking into account workflow, the working environment (eg lighting and ventilation) and health and safety.
- 5 Consider how important the appearance of the premises is, and how this will affect your image.
- 6 Determine what infrastructure you need (eg utilities, cabling and security).
- 7 Consider how likely your premises requirements are to change in future, for example, if your business grows.
- 8 Consider any possible restrictions on your use of the premises (eg planning permission).
- 9 Decide what tenure will suit you best: a licence, a lease or outright freehold purchase.
- 10 Decide how flexible you are prepared to be in acquiring premises which need to be adapted or improved to suit your particular needs.
- 11 Decide how much you are prepared to spend on acquiring the premises and paying continuing rental and running costs.
- 12 Use contacts, commercial property agents, local business organisations and publications to find potential premises.
- 13 Consider employing a professional adviser, such as a local chartered surveyor, to help find suitable premises and negotiate the deal.
- choose a location which suits customers, suppliers and employees
- consider how you will use the premises to determine the type of premises you need
- overspend or underestimate continuing costs
- get tied in unnecessarily to inflexible premises