Now that you have written your business plan, set up all of your legal groundwork, and put a marketing plan into place, you should start thinking about setting up your physical infrastructure. In this post, The Startup Garage will go over the dos and donts of picking the best location for your startup or small business.
What Questions Should I Ask Myself?
The first question that most entrepreneurs should answer before they select a location is quite simple: how much space do you really need? Here are five questions to ponder about before you start checking for For Rent signs:
- How much space do you need?
- How much can you afford to pay?
- How important is location to your startup?
- When does your new space need to be ready?
- Have you thought about everything your small business may need (furniture, phones, fax, Internet access, etc.?)
Where Should I Start Looking?
Asking a Commercial Real Estate Agent is often a good starting point when you are searching for a location for your startup. These agents will generally focus on finding a place, negotiating a lease, and/or search for vendors to help you with the move. Most of these brokers are free to you, since they tend to receive a commission from the owner of the building.
Read Your Lease!
Make sure you understand what your lease says before you sign it. Landlords tend to skew lease agreements in their favor, so it may be a good idea to have an attorney that specializes in commercial real estate review the lease before you sign. You’ll be happy that you did!