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You’re considering a new location for your business. What are the most important factors to consider?

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If you're thinking about moving your business to a new location, you might be overwhelmed by the many options and factors to consider. Finding the right space for your needs, budget, and goals can be challenging, but not impossible. In this article, we'll help you narrow down your choices by highlighting the most important factors to consider when looking for a new commercial lease.

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1 Location, location, location

The first and most obvious factor to consider is the location of your potential new space. Location can affect your visibility, accessibility, customer base, competition, and reputation. You want to choose a location that suits your industry, target market, and brand identity. For example, if you're a retail store, you might want to be in a busy shopping area with high foot traffic and complementary businesses. If you're a professional service, you might want to be in a central business district with easy parking and public transportation. Think about how your location will impact your sales, marketing, and operations.

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Roger Garcia

Tasaciones de Inmuebles | Evaluación de Proyectos Inmobiliarios.
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Piensa en la ubicación como la base de operaciones de tu empresa, un lugar que no solo atraerá a tus clientes ideales, sino que también influirá en el talento que se unirá a tu equipo. Además, la ubicación es una herramienta poderosa para construir tu marca y establecer una imagen. Hay áreas que evocan desde un estilo de vida sencillo hasta un lujo extravagante, y elegir una ubicación que se alinee con la esencia de tu negocio puede impulsar tus ventas y, en última instancia, tu éxito. Los peque?os empresarios, en particular, sienten el impacto de la ubicación en sus ganancias. La elección de la ubicación puede ser un divisor de aguas para estos emprendedores que emplean a menos de diez personas.

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Bradley Cohen

Senior VP @ CBRE | Commercial Real Estate Transactions
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Smart Expansion: Talent Meets Design In the quest for growth, forward-thinking firms from Silicon Valley to Brooklyn are not just chasing space. They're hunting talent hotspots, setting up shop in talent-rich locales like Austin, Pittsburgh, Northern VA, Brooklyn, and Baltimore. Utilizing analytics ensures a harmonious blend of space and talent needs. But there's a twist—design aesthetics play a pivotal role. A space's vibe can speak volumes to both employees and clients. Case in point: a Lower Manhattan pickleball academy, now a unique draw for office tenants. Each location choice is a strategic move reflecting your brand's ethos and ambition.

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2 Size and layout

The next factor to consider is the size and layout of your potential new space. Size and layout can affect your productivity, efficiency, comfort, and growth. You want to choose a space that fits your current and future needs, without wasting money or space. For example, if you're a restaurant, you might need a large kitchen, dining area, and storage space. If you're a software company, you might need a flexible open-plan space with meeting rooms and breakout areas. Think about how your space will accommodate your staff, equipment, inventory, and customers.

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Roger Garcia

Tasaciones de Inmuebles | Evaluación de Proyectos Inmobiliarios.
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Si tienes un restaurante, crea un ambiente cálido y acogedor. La decoración, la música y la iluminación juegan un papel importante en la experiencia del cliente. Realiza reformas: Actualiza la decoración del local, repara desperfectos y asegúrate de que todo esté en buen estado. Mejora el equipamiento: Invierte en maquinaria y equipos nuevos o de última generación para optimizar la eficiencia y la calidad del servicio. Cumple con la normativa: Asegúrate de cumplir con todas las normas y permisos legales relacionados con el tama?o y dise?o del espacio.

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3 Lease terms and costs

The third factor to consider is the lease terms and costs of your potential new space. Lease terms and costs can affect your cash flow, profitability, flexibility, and risk. You want to choose a lease that matches your budget, goals, and expectations. For example, if you're a startup, you might want a short-term lease with low rent and minimal obligations. If you're an established business, you might want a long-term lease with fixed rent and incentives. Think about how your lease will impact your finances, security, and options.

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Roger Garcia

Tasaciones de Inmuebles | Evaluación de Proyectos Inmobiliarios.
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Estrategias para minimizar el impacto de los términos y costos del arrendamiento: 1) Negocia un precio del alquiler: Buscar un precio justo y competitivo. 2) Solicita un período de gracia para que puedas hacer las reformas mientras permanece cerrado el local. 3) Considera opciones de financiamiento. 4) Evalúa la viabilidad del negocio antes de firmar el contrato. 5) Calcula el punto de equilibrio. Es decir, determina el nivel de ventas necesario para cubrir los costos. 6) Considera el crecimiento del negocio. Elige un local que pueda adaptarse al crecimiento futuro.

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4 Amenities and services

The fourth factor to consider is the amenities and services of your potential new space. Amenities and services can affect your convenience, satisfaction, and reputation. You want to choose a space that offers the features and benefits that you and your customers value. For example, if you're a gym, you might want a space with showers, lockers, and parking. If you're a law firm, you might want a space with reception, internet, and phone services. Think about how your space will enhance your customer experience and professional image.

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5 Legal and regulatory issues

The fifth factor to consider is the legal and regulatory issues of your potential new space. Legal and regulatory issues can affect your compliance, liability, and reputation. You want to choose a space that meets the standards and requirements of your industry, local authorities, and customers. For example, if you're a health clinic, you might need a space with proper licenses, permits, and inspections. If you're a beauty salon, you might need a space with adequate ventilation, sanitation, and safety. Think about how your space will protect your business and customers from legal and regulatory problems.

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6 Market and competition

The sixth and final factor to consider is the market and competition of your potential new space. Market and competition can affect your demand, pricing, and differentiation. You want to choose a space that gives you an edge over your rivals and meets the needs and preferences of your customers. For example, if you're a bakery, you might want to avoid a space that is too close to another bakery or a supermarket that sells baked goods. If you're a florist, you might want to find a space that is near a wedding venue or a funeral home. Think about how your space will position your business and products in the market and competition.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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You’re considering a new location for your business. What are the most important factors to consider?

1

2

3

4

5

6

7

1 Location, location, location

2 Size and layout

3 Lease terms and costs

4 Amenities and services

5 Legal and regulatory issues

6 Market and competition

7 Here’s what else to consider

Commercial Leasing

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You’re considering a new location for your business. What are the most important factors to consider?

1

2

3

4

5

6

7

1 Location, location, location

2 Size and layout

3 Lease terms and costs

4 Amenities and services

5 Legal and regulatory issues

6 Market and competition

7 Here’s what else to consider

Commercial Leasing

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