Law Offices of Frese, Whitehead & Anderson P.A.

Local: 321.473.3295

Toll free: 866.510.7362

We can tailor a solution to meet your needs. Find out how.

Picking a great commercial property: Key tips

When starting a new business, the survival odds for your company depend on a lot of factors: the quality of your goods or services, the demand for what you sell, the ability of the potential buyers to make a purchase at the price point, the amount of competition you face and much more.

One important thing to remember, though, often long before you really dig into these other topics, is simply that you need the right location. The commercial property that you choose could have a lot to do with whether or not your company is a success. Much of this success is short-term; after all, if the company flourishes and you need more space, you can always upgrade. But you have to get off on the right foot to set yourself up for that type of future.

With that in mind, here are a few key tips that can help you find the right property:

  • Consider all of your costs. Do you just pay the rent and let the landlord take care of everything? Or do you have to pay the utilities and other costs? Take them all into account. If you have to cover the lighting costs, for instance, you could save thousands by choosing a building that already has LED lights instead of traditional fixtures.
  • Find the right location. Without a doubt, location is the most important aspect for many companies, but the world has changed. With internet sales, some companies thrive with a physical location none of their customers could find. It all depends on what you and your company really need. Think carefully about how your location will impact traffic, sales, perception and much more.
  • Think about the size of building you really need. As noted above, you can upgrade if you need more space, but it's not a quick process. You could also find yourself trapped in a restrictive lease. Moreover, renting a space that is too large can drain your budget without offering much in return. You need that perfect balance.
  • Look for any extras that the property offers. For example, does it come with security? If you're just renting an office, do you get to use the lobby and the meeting rooms? How can these public spaces impact your company and change the way people see your business? As you look at the extras, think about the costs and what makes them worth it to you.

These tips can help, but they should merely get you started. This is a big decision. Make sure you know about all of the options that you have, how the terms of the lease impact your company and what legal steps you need to take when renting a commercial property.

No Comments

Leave a comment
Comment Information
AV LexisNexis Martindale Hubbell Peer review Rated for Ethical Standards and Legal Ability Super Lawyers The Florida Bar Board Certified Real Estate The Florida Bar Board Certified Taxi Law The Florida Bar Board Certified Wills, Trusts and Estates The Florida Bar Board Certified Civil Trial Florida Trend The Issues, People and Ideas that Define Florida Business