Location
Finding business premises can be a difficult task. And it's a task you need to get right as it will be one of your biggest costs. In the first instance, make sure you consider the following points.
You need to be clear and specific about what you are looking for.
After all, it's a big investment and could make all the difference between success and failure. When thinking about your business premises, make sure you consider the following:
- What do I need? (Shop, workshop or office etc)
- How much can I afford to pay?
- Is location important? (E.g. city centre vs out of town)
- What are my access requirements?
- What about my service requirements? (E.g. parking, 24 hour site, industrial strength energy supply, natural light)
The contract
You really need to take professional advice on this. However some things to check include:
- How much is the rent and how often is it reviewed?
- How often do you have to make rent payments?
- What is the deposit, and is it refundable?
- Are service charges included or are they extra?
- Who is responsible for repairs?
- What is the notice period, and do you have to restore the premises to their former state on vacation?
It's worth repeating: Always consult with a solicitor before signing a contract.