Finding commercial property to rent is not an easy task and you need to know what to look for.
Finding the correct and ideal location for your business can be a cumbersome experience. Defining the criteria for your requirements is of key importance.
The internet is the ideal medium to find commercial property to rent. You can search for a specific commercial property through pre-defined criteria that you have established for your business. Care should however be taken where the information provided through websites may not always be what it seems.
If you are a franchise then your franchisor can assist you with locating a suitable commercial property for your business that you can rent. The franchisor may also assist with feasibility studies of the location. A good indicator normally is if there are other franchises in the building that you are investigating. This generally means that other franchises have already done their homework and that is why the franchises are located in that building. Having more than one franchise in a building can provide complementary feet to your premises. A good example will be a food court which serves as destination shopping where you may have a fish & chips, hamburger, pizza, chicken take-away in one location.
If your business is not part of a franchise then you may want to associate yourself with well-known franchises. These franchises generally generate feet to the shopping centre from which you will most definitely benefit as a tenant. It will be highly beneficial for your business if you can rent business premises between two well-known franchises.
Finding office space to rent is dependent on your requirements. Do you require exposure for the offices? Do you require feet to generate business ? Are you more service oriented than admin oriented? These questions may seem obvious but it could have a material impact on where you locate your business. Many shopping centres have retail shops on the ground floor and offices on the second floor. This is a very good combination should you require exposure and accessibility since shopping centres are normally accessible. The retail/office combination is extremely effective and business can be generated from the feet generated through the retail area.
If your offices are not dependant on exposure and feet being generated then it is advisable to look for offices in an office park or in an area just away from the main business district. You can find more affordable rentals in these areas. Why do you need high exposure offices if you are not reliant on exposure ? The question may seem obvious but many companies would like to be seen in high exposure areas and they pay a premium for such areas. A much more affordable option can generally be found just outside the central business district. You will be able to rent commercial property at a fraction of the price which will most definitely show on your bottom-line which will keep your shareholders happy.
Finding a mini warehouse, small factory, workshop or light industrial property can be a daunting task. Most available premises are too large to cater for small industries and are way too expensive for a small to medium sized business. These premises are generally located in industrial zones and are generally cheaper than offices and retail space.
