When it comes to choosing the primary location for your business it is not a decision that should be taken lightly. Choosing where you are going to do business no matter whether you are a restaurant owner, a financial firm, a retailer, etc., where you decide to establish your presence by location will determine how long you will stay in business.
When it comes to deciding on a location for your business you should keep in mind the following: is the property in a high traffic area? Is it easily accessible for your customers? Does it stand out compared to the surrounding businesses? Does it have adequate parking? How much is the upkeep going to cost? Is the property adequate and spacious inside for current and future employees to service customers? Is the lease negotiable? These questions along with many others you may have should be at the forefront of your mind when deciding on a location for your business.
First, before your begin thinking about finding commercial real estate for your business you should start searching for places you like before taking on a real estate agent. Don’t get me wrong real estate agents are great for negotiating and knowing about places that have not been listed on the market yet; however, it is best that you have a clear idea of what you are looking for by starting your own search. A great place to start searching on your own is Loopnet. Loopnet is a commercial real estate website which covers property in all fifty states. You pick your city and state and the type of property you are looking for. For basic searches it is free; however, if you want to get your hands on the best commercial real estate, then I would suggest registering for an account and paying the monthly fee they charge. Other places to look are on real estate websites such as Coldwell and other real estate agencies who sell or lease commercial real estate.
Next, when you have narrowed down your list of possibilities of where you want to do business call the realtors who are in charge of the property and see if you can take a tour. Never purchase property that you have not seen because you don’t want to end up with a money pit. If the realtor says yes, take a notepad and a pen and take notes of what you see-likes and dislikes-and whether or not it is on your list of strong possibilities.
Lastly, learn how to negotiate. If you are a future business owner or already are in business, then you will or already understand the significance of negotiating skills. Some business owners who are in search for new commercial real estate like to hire their own real estate agent to handle the negotiations of the lease or sale because of their experience. However, if you are someone on a budget and cannot afford to hire a real estate agent, I would highly recommend you take some public speaking courses and negotiating courses because you will be all you have, and you are going to need to know the ends and outs of negotiating if you don’t want to be taken advantage of.
Overall, searching for commercial real estate for you business should not be a difficult thing if you keep in mind your goals for your business and the reputation you want to build. Start searching early to get a feel of what may be suitable for you, your company, and your customers. Ask to tour the places you are interested in if the realtor can fit you into their schedule and take lots of notes. As long as you keep your customers in mind, finding a place for your business will be easy.