Posted by on Mar 21, 2017 in Business | 0 questions

There are many important things to do when you start a business of any kind; but, perhaps, the most important decision you make is where you find your home. Choosing the right premises is a question of money, market, accessibility and a whole lot more besides, and the wrong decision could result in a disaster.

With this in mind, we thought we would take a look at some of the most important factors you should consider before making your big decision. Let’s take a closer look at how to find the best premises for your startup or new business.

Location is key

It’s vital to choose the right location for your business -possibly above everything else. Some cities are more suitable for startups, and if you are in retail, manufacturing or the service industry, location isn’t just important – it’s critical. So, before you choose your premises, ensure you find the right area first.

The home base

If money is an issue, working from home to get your business off the ground might be a necessity. There are issues, of course, from your image through to lack of space and the distractions of working from home. However, a quick look at the history of companies as famous as can show you that even the world’s greatest businesses have to start out somewhere. As most people know by now, Apple founders Steve Jobs and Steve Wozniak started the company from a garage – so anything and everything is possible.

The coworking space

Another low-cost solution is the coworking space. It’s an affordable option that gives you a professional office address but also provides access to a lot of other startups and freelance businesses just like yours. As points out, there are many advantages of going down this route. You get to share space with a community with whom you can exchange ideas and discuss challenges, And who knows, maybe you’ll even meet another small business that could take your idea to the next level?

The office rental

If you want to be taken seriously as a business, you are going to need an office – and the same goes if you want to hire lots of employees right from the off. That said, office rentals can be notoriously expensive, especially if you want to locate in an attractive area. Your best bet is to weigh up the costs against what you can afford and see if you can make it work. Also, consider size. You will be paying for every single square foot of office, so avoid anything that you can’t fill until your business gets off the ground.

Buying outright

Finally, few startups are in the position where they can buy an office outright. However, should you have the funds, make sure that you don’t waste them. Look at the size and layout of the premises, as well as the structure and general appearance. You’ll need good access to power, drainage, and services, too – and have car parking, so you are accessible to customers and suppliers.