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Business Planning Process Planning & Strategy

Building Your Own Business Premises? Things to Consider

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Business is all about profit, and once you reach a stage where profits are being generated regularly, it’s time to consider where you can make upgrades and changes. The aim is to futureproof your venture while increasing your profits further- and when you rent an office, every month that you pay your rent, this is coming out of your earnings. When you buy your own, you’re investing in something that you own, which massively improves your financial position. But instead of just buying existing premises, why not build yourself? It’sIt’s generally no more expensive than renovating since you can avoid issues like repairing structural damage and removing pests and asbestos. You can also design the building to work precisely for your business, which can boost productivity and even improve worker happiness. If it’s something you’ve been considering, here are a few things to bear in mind.

Location

Possibly the most critical thing to get right – especially for certain businesses – is the location. For example, if you have the kind of business where customers or clients come directly to your office/ shop/ premises, then you’ll need to be located in an area that’s easy for them to get to. If your business predominantly relies on foot traffic to get business, spending more on a busy location like a high street is likely to be a worthy investment. If you run an office that customers or clients don’t visit directly, you can find somewhere a bit further out, but do consider how your employees will get to work. Look into things like transport links and road access before you get your building permit expediter sorted.

Size

A bigger office will always be more expensive to build, so it doesn’t make sense to build an enormous structure if you don’t have to. However, something you will want to think about is whether your business will grow over the years, and if so, how much more space might be needed. You could either build it more substantial than you need or leave space to extend upwards or outwards in a few years if you need to.

Security

Offices tend to be full of high-value equipment as well as cash and customer data, which can be used in a crime or sold on to other criminals. Since they’re usually empty after office hours they can make attractive targets to burglars. So when you’re building your office, think about security, things like high-quality windows and doors as well as shutters or lockable window grilles will physically keep criminals out. Have commercial CCTV and a burglar alarm fitted, and even consider your roof since many burglars have been known to get in this way. Consider how it can be re-enforced to prevent criminals from entering.

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