If you are looking for new commercial real estate for your business, you need to do some planning prior to hiring an experienced commercial real estate agent.
Depending on the type of business you run, finding the right commercial space is likely critical to your company’s growth, success, and overall development.
Building a successful business usually hinges on quite a lot of little details, one of which is always location, office space, and work environment.
But how do you know what you need and where to look? Let’s get into that.
Commercial Real Estate & Where to Start
What you need to do at the beginning of your commercial real estate hunt should be obvious, start with a plan!
Here’s what you’ll need to figure out:
Location is ALWAYS an essential factor in developing your business.
Depending on your customers, your employees, and your own needs, the location will likely be a critical part of your decision-making process.
- Do you own a small business that would do well in a quiet neighborhood?
- Do you rely heavily on foot traffic and people looking to shop?
- Does your business cater to a particular demographic that may affect your area of choice?
- Are you willing to share commercial space with other companies?
Adequate operational space is vital in managing a comfortable work environment that doesn’t hold back your team or processes.
It would be best to consider how much space you will need for every aspect of your business-
- Storage space
- Comfortable desk space
- Equipment space
- Workshop areas
- Kitchens and bathrooms
- Handicap accessibility
- Parking, etc.
Before you go into shopping for your commercial space, consider what you can comfortably afford. It’s crucial to consider all financial factors and possibilities.
- What can you pay in rent?
- Consider everyday costs like- Electricity, equipment, internet, etc.
- Is parking free, or will you have to pay for that?
- How will transportation/commute costs affect your budget?
- Will these new expenses jeopardize your business’s operational budget?
- Does your rental need to have a back-up infrastructure to prevent financial losses if a power outage occurs?
-Room For Growth
Space is a big deal for businesses looking to scale.
You may only need enough space for 5-10 employees at the moment, but if you are planning to grow your business within the next five years, you should probably plan for that growth.
There’s nothing like being stuck in a lease that stops meeting your business’s needs within 2-3 years.
Lastly, Choosing the Right Agent
Once you have your budget squared away, and you know what you want, its time to take the most critical step, hiring an experienced commercial real estate agent.
The problem? Real estate agents far outnumber available properties, so finding the perfect match for your business space can be overwhelming.
A few key things to look for when hiring a commercial real estate agent:
- Knowledge of the commercial market
- A well-seasoned dealer
- A keen eye for property negotiation
- Great communication skills
- An established commercial real estate background
Finding a commercial real estate broker that checks all of the right boxes can be difficult. With Key Realtors, you can rest assured that we understand the commercial real estate market front to back.
Our experience in connecting business owners with the perfect office space for their company has played a large part in our success as a real estate broker.
If you need an ideal commercial space for your business, give us a call today! We’ve got everything you need to get what you want at a great price and begin working towards a brighter future for your company.