Summary
1. Make a list of what you need from your business premises
How important are size, layout, location, facilities, structural requirements and parking to your business needs? Also think about your long-term business plans and how they might affect your choice of business premises. For example, you might want to expand or modify the property in the future. See commercial building specifications.
2. Location, location, location, location
Choosing the right location for your business premises can be a balancing act. You can choose a location that is convenient for your customers, employees, and vendors, but not too expensive. Some of the factors you may want to consider when deciding on location include footfall, competitor location, delivery restrictions, parking restrictions, and business rates.
3. Buy or rent business property?
You will need to determine whether buying or renting a commercial property best meets your business needs. The advantages of renting commercial premises include less capital investment than buying, so it can give you the flexibility to move if the premises become unsuitable. Benefits of buying a business property include the flexibility to manage or repair the building as you see fit, the potential profit from selling the building in the future if it appreciates in value and future rental of the property as a source of additional income. This short video will help you weigh the pros and cons when deciding whether to rent or buy commercial space (video).
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4. Business Rate Help
You may be eligible for assistance with business rates. For example, the Small Business Tariff Relief Plan provides some small business owners with tariff relief. See available help for business pricing.
5. Legal Considerations for Commercial Real Estate
There are a number of legal considerations when choosing a business property, including planning permission, health, safety and fire regulations, insurance, accessibility and permit. You will likely have to pay stamp duty if you are buying the property or if you are renting commercial property you will need to follow the terms of the lease. Be sure to get the advice of a lawyer when buying or renting business premises.
6. Search for commercial real estate
You can search for commercial properties through local commercial estate agents, by visiting potential areas to view commercial properties for sale or rent, or by searching our commercial property search engine. Check potential premises against your needs to create a shortlist of commercial properties you might want to visit.
Insurance for commercial premises
We saw that there was six essential tips to know when buying commercial walls. We have seen that you first need to make a list of what you need from your business premises, then you need to determine the perfect location, whether you are buying or renting commercial real estate and many other things. Once you have followed these six tips that we have seen previously, it is necessary to insure the walls of your commercial premises with assurup. Indeed, you must be insured in order to protect you against multiple risks like a water leak, a broken window, damage and all the collateral issues that all of this can entail. This type of insurance, also called multi-risk professional insurance, is aimed at the self-employed, but also at all companies. In addition, this insurance is almost always compulsory for the commercial lessor.
Why take out local commercial insurance?
First of all, you should know that this type of insurance is almost always made compulsory by the commercial lessor. Thanks to this insurance, you will be able to run your business efficiently since you will not have to worry about any breakages that may occur, you will be serene in the face of possible risks. Then it is also important to have this kind of insurance because in the event of an incident, you will be able to resume your activity very quickly, which will help maintain the course of your business over the long term, especially if your business depends on their place of sale. you should know that with this insurance, you do not only insure your walls, but also the interior of your office such as your computer equipment, your furniture, but also all the goods. Assurup is a brokerage firm that will get you online for office insurance in three minutes, so jump at the chance.
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