Once you have decided that renting an office space is the best move for your business, the next step is to start finding the best location.
Commercial real estate agents will tell you that the most important factor in establishing a successful business is true to the old adage: location, location, location. This does not always necessarily mean that a high traffic, high cost area is best for your business. To make sure you find a space that meets your financial and physical requirements, consider the following questions.
- How important is location to your business’s success? Does your business require you to be near other stores or in the area of a certain client base?
- What kind of location best serves your business? Do you need to be in an area that gets a lot of foot traffic or is easily visible from the road?
- How much rent can your business afford? Know your budget going into the search, and do not let yourself make leasing decisions that put your business at financial risk.
- Is your potential location appropriate for your business operations? Have you looked into zoning requirements or other legal restrictions on business operations in the area?
Before you enter into serious negotiations, make sure that a potential space meets your location needs.