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Choosing Your First Business Premises as an Entrepreneur: 4 Top Tips

StrategyDriven Starting Your Business Article | Choosing Your First Business Premises as an Entrepreneur: 4 Top TipsMany entrepreneurs are used to working from home or working remotely, but if you’ve developed your brand and built your business substantially enough to move into the property market, you’ll want to find the perfect premises that work for you.

Finding your first physical building or office space to contain your business can be a daunting (and costly) step, but it should also be an exciting time that allows you to concentrate on moving your business forward.

Here are four tips for finding the right premises.

1. Choose to Buy or Lease

This is going to be an important first step, as it’s going to impact you financially. There are pros and cons to both options, and a lot of it is going to depend on your initial budget. As an entrepreneur, it might be that you simply don’t have an upfront deposit to buy a property, however much you would like to. Renting can be a much more flexible option for entrepreneurs, as you don’t need as much money upfront and you have the flexibility to leave the contract and find alternative premises when your business grows or changes in the future.

Of course, buying can be a great investment if you’re looking to make money from a property, and it also allows you more freedom to make any desired changes to the building.

2. Think Carefully About Your Location

For certain businesses, location is everything. If you are a physical store or if you are going to have consumers or clients visiting your property on a regular basis, being stationed in a location that is easily accessible will be a must. You should think about being close to public transport links, busy towns, and city centers.
If your business doesn’t depend on external visitors, you still need to think about commutability for your employees. If your property is quite remote and some of your employees do not drive, it is going to be difficult for them.

3. Consider Any Renovation Work

You may find the perfect property, but it may take a little extra to make it the most suitable for your budget. Renovation work can be factored in, if you have the means and budget for it.

With buying, you have more freedom for renovation, but renting may also be flexible if the landlord is happy for you to take care of the renovations yourself. Always remember to get professional guidance on large jobs, such as reroofing from Lidoran.

4. Stick to Your Requirements

Know in advance what you require from a building and stick to it. Don’t compromise on requirements, as the daily workings of your business will suffer in the long run. You need to think about:

  • General office space
  • Warehousing space, if necessary
  • Parking facilities
  • Other facilities, such as a cafeteria
  • A reception or lobby

Conclusion

Finding a property is all about preparation and budgeting in advance. Knowing what you need ahead of time will ensure that you can then price-match your requirements with what you have, and make a more informed decision regarding affordable properties and whether you buy or lease them.

Taking Inspiration From Google For Your Business Premises

StrategyDriven Managing Your Business Article | Taking Inspiration From Google For Your Business Premises

Renowned for creating incredible workspaces that aim to increase productivity in their staff, Google has 70 offices in 40 countries, each of them carefully designed to be an appealing and inspirational place to work. Here are just a few of the most exciting and design-led Google offices around the world.

Google Zurich, Switzerland

Step inside Google’s European engineering HQ, and you’d be forgiven for assuming you were atop an Alpine ski resort. In fact, you’re in one of the company’s many zoned conference areas, which encompass a snowy “North Pole”, complete with penguins, an aquarium chill-out zone, and swing chairs for (literally!) hanging out while you work.

Google Tel Aviv, Israel

Another innovative Camenzind Evolution design that can inspire your business, this sales and engineering hub sits in a prime spot in Israel’s coolest city, focusing on Google’s EMEA activities. The office has themed designs across its seven floors. Each reflects an authentic Israeli scene; hence an in-house orange grove tipping a wink to one of Israel’s most famous exports, corridors mocked-up to look like heritage cobbled streets (complete with window-boxes bursting with colourful blooms) and even a tractor-turned-lounge to complete the weird and wonderful décor.

Google London, United Kingdom

The Central St. Giles Building in Covent Garden is situated in the heart of London’s theatreland, playing host to Google’s London “Super HQ” within an unmistakably British space. Designed by British firm Penson, the patriotic theme starts from the Union Jack-swathed reception and continues on throughout the building with Chesterfield-buttoned velour lounge seating in British Racing Green, reminiscent of a vintage town hall, and kitschy chintz wallpaper and wing-back armchairs suggestive of a retro “Granny Flat”. This quirky style of interior design celebrates all things London with tongue firmly in cheek.

Google Amsterdam, Netherlands

Finally, engaging local design firm D/DOCK to refurbish its Amsterdam offices, Google’s newly refreshed reopened in January 2014. With eco credentials just as impressive as the design focus, this makeover adhered strictly to an approved materials list that minimised toxins, while maximising efficiency in power and water consumption. You can easily take inspiration from this, creating an industrial environment by engaging a pallet supply company and re-using materials and equipment in order to create an office space that inspires and amazes all at once. The wellbeing of the staff was also a major driver, with all employees afforded a 180° view across Amsterdam from the multitude of windows that line the offices. Thoughtful decorative touches appear everywhere, with bikes featuring heavily in the design (a nod to Amsterdam’s pedal-power transport culture), plus cute and comfortable 1960s caravans, complete with deckchairs and faux grass, repurposed as enticing meeting rooms for staff to enjoy.

As you can see, Google has gone a long way to ensure their office spaces are inspirational and truly incredible. You can take this approach with your business premises, irrespective of whether you have a number of offices or you own a warehouse. You can still make the place exciting while productive and adhering to safety regulations.

How To Choose Your First Business Premises

StrategyDriven Starting Your Business Article |Business Premises|How To Choose Your First Business PremisesPerhaps you started off at the kitchen table. Or maybe you were in a spare room. Crammed into a garden shed or a loft conversion, occasionally working out of a cafe with free WiFi when you could. Launching your own business often starts with unglamorous surroundings – and when the time comes to finally move into a proper business premises, it feels like a significant milestone. Where your business is based has the power to be transformative. Whether you’re seeking warehousing space to become the logistical hub of operations, or an office environment where you can expand your team and make new hires to grow your business, it’s an exciting time but also a potentially stressful one. Securing premises generally involves a cash outlay and being bound to various contracts, so it’s a decision which needs to be right. If you’ve never chosen a business premises before, what do you need to know to make sure that you get the choice right?

Think Through Your Requirements

Despite your business straining at the seams for growth, choosing a location is not something that you should rush into. Before you go signing up to every commercial lettings agency in town, take the time to draw up a comprehensive list of the unique requirements that your business has, so that you can make viewings with a logical mind. Think about the size of space you need – and how quickly you’re likely to grow. You don’t want to sign a contract only to find that you’ve already run out of space six months down the line, but equally you don’t want to be paying for space you don’t need. If growth is unpredictable, then place a short term leasing agreement higher up your list. Think about things like access and proximity to public transport hubs for your employees. Look into parking restrictions, nearness to your suppliers, building facilities, business rates and the security of the property – even things like the Access Entry System. Now is the time to both think of the big picture and zero in on the details to make sure you make the right choice.

To Buy Or To Rent?

One of the main considerations to bear in mind with your first business premises is whether it’s better to rent or take the plunge and seek capital funding to purchase. This decisions depends on a variety of factors. If you work in a smaller scale, high growth industry such as software development than it makes more sense to rent – this gives you more flexibility and requires less outlay of precious capital. In other situation, where business growth is more steady or you require a very specific space for specialist manufacturing equipment, you may well be better off making a purchase, as you can manage and modify the building to fit your needs. This also gives you the option of renting the premises out in the future if it no longer suits your requirements and creating an additional income stream.The decision has to be up to you – but make sure you enter the process with a clear mind, and you’ll make the right decision for your business.