When working with clients who are either relocation or
starting a business, I often find that their only consideration is the amount
and terms of the lease. They end up choosing one location over another based on
minimal differences within the price and terms.
If you’re looking for the best location for your business,
you may want to consider other factors.
Consider which physical location will attract customers to
your business.
- Will the traffic from neighboring business generate clients
and sales for your business? - Can your business be seen from a high-traffic major
intersection? - Can your business be seen from the road?
- How much parking is available for your clients?
Free advertising?
- Does the location allow for sign on the front of the
building? - Does it have a storefront to advertise and visibly market
your product during working and non-working hours? - Does it have a good location for a sign and/or signs to advertise
and operate at night? - Is the location lighted at night including the parking lot?
Consider which location will be the least expensive to
operate.
- Are the HVAC systems efficient to avoid expensive utility
bills? An efficient system can save you
thousands of dollars over the term of the lease. - Is the building property insulated?
- Does the location require tenant exterior maintenance, such
as landscaping, parking lot clean up and maintenance?
Which property has the cheapest move-in costs?
- Have you received bids from licensed contractors? Make sure
to compare renovation requirements/expenses of each property considered. - Have you calculated the total renovation expenses of
altering the building of each location to suit business requirements? - Will the landlord make modifications to meet your
requirement? - Will the landlord waive lease payments to accommodate start
-up time and modifications to the premises?
The location and benefits of one location over another can
drastically affect success and profitability. The most effective way to compare
properties is to measure dollar for dollar on each property. Make sure that you
find an experienced, qualified commercial realtor with documented success to
find your best location.
Need assistance with our commercial property analysis, sale, purchase or lease?
Please give me a call! 256-225-3852.
