How to choose the right industrial space for your business
When selecting a commercial space for your business, you have to be meticulous. Restaurant owners must weigh different locations right down to the street number and retailers should always choose the shop with the very best storefront window.
When buying an industrial property, business owners need to be equally selective. The factors they should consider, however, are much different.
Determine your requirements first
Do you need more warehouse space for storage, or manufacturing space for production? Perhaps you need a combination of both, or room for a couple of offices, a kitchen and a staff common area.
When viewing industrial properties, make sure that they're big enough to organise everything how you'd like. An open plan warehouse might seem deceivingly spacious, so make sure you inspect spaces with a clear idea of how you'll arrange it and the amount of space you'll need for equipment, merchandise and your employees.
On the flip side, buying or leasing an industrial space that's too big could be equally detrimental, particularly if your business requires you to spend a lot of money on heating, air conditioning and other energy costs.
Location is still very important
Although you aren't necessarily working closely with the general public, location is still very important when selecting an industrial property like a warehouse or factory. After all, your staff need to get to work and delivery drivers need to be able to find you easily. Make sure you consider factors such as:
- Proximity to business partners
- Traffic patterns
- Road safety and conditions
- Access to highways and exit ramps
You'll also want to think about your neighbours. If, for example, your business tends to be quite noisy, you don't want to set up shop too close to a residential area.
Is there room for growth?
Most business owners hope to see their work grow and evolve every year, so make sure the space you buy or lease today suits the vision you have for your enterprise five, ten or even fifteen years down the line.
Moving is disruptive, particularly when you're uprooting heavy equipment and materials. That's why it's essential your industrial space offers room to grow.
At Ray White Commercial Gold Coast, we know how important it is to choose the right location for your business. Our helpful team is here to talk you through every detail of your business and help you select the perfect property. To find out more, reach out today.