Location can be so crucial to the success of any business, so it is important to make this factor a top priority when searching for commercial real estate properties. Here are a few tips for how to approach the issue of location, as suggested in the article “Location and Leasing”:
It is so important to understand the zoning laws in an area, because this can determine whether or not you can operate your business there at all. Not only do you want to look up zoning laws for an area, but you need to also be prepared to work with a city planning department and other municipal departments who will ultimately approve or disprove your business’s plans for a location. Sometimes you might even be required to present a “precise plan” to make sure that you are meeting regulations that go even beyond regular zoning laws to include things such as environmental issues.
Know Your Business
Different businesses have different criteria for what constitutes an ideal space. For instance, warehousing, manufacturing, or industrial businesses might need to focus on things like availability of a labor force, proper utilities, and delivery system convenience. On the other hand, a retail space might be more interested in foot traffic.
Where to Start
In this day and age, the internet is a great resource for narrowing down available and suitable spaces in an area. You might also consider working with an agent who knows the area particularly well.
Do your research and planning to make sure that your location fosters the success of your business!