When starting a new business, an important part of the process is finding a physical space that best suits you and your company’s needs. Whether you are a brand new startup or an existing enterprise that is looking to transition or expand, check out these helpful tips on finding the perfect commercial space for your business!
Tip #1 – Know What You Want Before You Look
Before you start looking at commercial real estate, take the time to come up with a list of everything you and your business will need. Then, have an additional list of the things you want in a commercial space. This way, you will know exactly what to look for ahead of time. Separating the list into needs vs. wants will make it easier for you to narrow down your options when it comes time to make a final decision.
Tip #2 – Involve Your Partners / Employees
Typically, a business has many different aspects and it usually requires a team of people with individual responsibilities working together to keep the wheels of your company in motion. Always include these employees or business partners in the hunt for a commercial space. Whether you bring them along to walk-throughs of potential locations or simply ask their opinion on what they desire in a work space, their opinions should matter to you since they’ll be working there as well.
Tip #3 – Don’t Hesitate to Ask Questions
It helps to ask as many questions as possible when choosing a commercial space, especially if you have multiple options and you’re having trouble selecting a single one. Some good questions to ask before closing the deal on a space are:
- Is the title clear?
- Are there any environmental concerns for this property?
- What major repairs have been done to the building in the past 10 years?
- What other types of businesses are currently located in this building, if any?
- Are there liens or expired permits on the property that may create a legal liability in the future?
- Will you need any zoning code permits for your proposed use of the property?
Tip #4 – Review Lease Terms Thoroughly
Once you’ve decided on a commercial property, go over the lease terms section by section. Make sure you understand the entirety of the lease and any limitations involved. It will be helpful to know upfront important things like what building maintenance you will be responsible for, subletting allowances if you decide to leave before the lease is up, and what additional costs are involved in leasing the property, if any.
Looking for professional and reliable retail leasing in Frederick, MD? Contact the professionals at Tomarchio Enterprises today for help in finding the commercial space that’s perfect for your business!