How to Choose the Right Business Location and Setup
If you’re in the throes of setting up your business, then you’re going to have a lot of key decisions to get right.
Among these is choosing where your home hub (or headquarters) is going to be and the type of business space you’re going to create. Should you rent or buy? Should you work from home or in another location? Does your business need a storefront or exist virtually?
Here are a few top possibilities and key considerations for your business location and setup.
Running Your Business From Home
The coronavirus pandemic isn’t behind us yet so you might consider running your business from home for the foreseeable future. Even if there wasn’t a health crisis related to social contact, a home office could still provide you with a way to immediately reduce the costs in your business model.
You might think that certain businesses aren’t suitable for a home model, but you would be surprised. These days thanks to evolving technology, it’s possible to run most companies from the comfort of your own home. You just need to make sure you use the necessary tech the right way.
For instance, a cloud server will ensure you can instantly provide updates to your clients as well as your employees. When you’re running a business from home, this level of connectivity will be vital for you to get right.
A key issue with running from business to home is your presentation and appearance. A home-based company is always going to look small, particularly for certain industries. Clients might assume you’re unable to handle larger projects. That’s why you should think about compensating for this with an incredible website design guaranteed to impress.
You can also use a virtual office solution. The right virtual office will ensure that your business looks more impressive and powerful on the market. Solutions like this will also fit into the typical budget of most SMEs so you don’t have to worry about it costing your company a fortune.
Location, Location, Location
Of course, if you’re not running your business from home, then you need to get the location of your new company right.
For example, if there is a logistics element to your company, then you need to make sure that your company is close to transport links. This is why a lot of businesses will be established by airports and rail links. You can also choose a place where this is a solid infrastructure with plenty of different road connections.
If you choose an office space in a heavily urbanized area, then the costs are always going to be higher. A location like this is only going to be necessary and needed if your business model relies on a high level of foot traffic. If it doesn’t, then there’s no reason why you can’t set up your company somewhere outside of town.
You should also think about how other stakeholders will get to the workplace. If you have employees or clients you wish to meet with, then they need to make it to your commercial property with relative comfort. This applies to your everyday place of work or any corporate event venues that you seek out in the future. It’s not all about your own needs – others need to be considered, too.
There are other elements to consider in terms of your location too. You might want to focus on the future and think about whether there’s room to expand your business operations. Again, this is going to be easier if you choose a location outside of the city rather than in the middle of an urban district.
Build or Buy
Next, consider whether you’re going to build or buy your new property. Building from scratch is always going to be more expensive; however, it does provide several key advantages.
If you build your new office space or business property, then you can guarantee that it will have everything you need and be completely customized to match your requirements. You can ensure this by using industrial builders to design and create the building for you.
If you are buying an existing property, then complete the right level of research and check out the property thoroughly. You need to make sure that there are no issues with the building that could cause health and safety issues further down the line. An older business property could have hidden dangers lurking inside the wall including asbestos.
Your business property needs the right level of security, and security standards differ depending on your requirements.
You might invest in a business with security solutions that have already been established. This could include elements like CCTV systems. Remote CCTV systems are ideal as it means that you will be able to check your business property, even when you are not there.
Lighting is important too because the majority of security threats to a business property will occur in the middle of the night. If your office space is lit up, then it can act as a deterrent to break-ins. Installing fencing around the perimeter is another deterrent.
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