Is there room to grow? How to select a commercial property for the future

By Greg Bell

Businesses are meant to grow. More customers drive revenue. Revenue allows you to purchase new equipment and hire more staff, and that, of course, enables you to produce more – thus repeating the cycle.

If your work didn't go through these stages, you'd be in trouble. Why then do so many business owners fail to consider the future when selecting a commercial property? Avoid this mistake by making sure you buy or lease the right commercial property – one that offers you plenty of room to grow and expand – the first time. 

Map out your goals and make a checklist before viewing properties

It's hard to know what space will work for your enterprise five, or even ten years down the line if you yourself don't know where you want to be. That's why it's so important to view commercial properties with a clear idea of what you're after.

Sit down and think critically about your current operations as well as your goals for future growth. Be sure to consider your needs – now and in the future – in the following areas:

  • Number of employees
  • Volume of equipment
  • Need for production space
  • Need for warehouse space and storage
  • Need for display space
  • Heating, air conditioning and ventilation requirements
  • Volume of customers and what they require (ie. toilets, waiting areas, dressing rooms)

This will help you get an idea of what your size requirements are, as well as the layout you're after. Once you've considered every factor, use this information to write a check-list to take with you when you view commercial properties

Ask yourself: how much work will it require? 

With your check-list in hand, you'll be able to determine which commercial properties are best for your business now in the future. If you want to find something that is enjoyable, practical and functional, make sure you think about the big future. Ask yourself what's most important and how much work a given space will require. 

Don't be tempted by factors like shiny, new hardwood floors or a bathroom filled with new appliances if these things won't actually help your business significantly. On the flip side, you might be put off a given property because of something that could easily be changed like dated carpet or unattractive decorations. 

At Ray White Commercial Gold Coast, we want to make sure the commercial property you buy or lease today will suit your business for years to come. To find out more, reach out to our expert team today.

Up to Date

Latest News

  • Exploring the Advantages of Net Leases for Commercial Assets

    Exploring the Benefits of Net Leases in the Realm of Commercial Assets In the dynamic and ever-evolving realm of commercial real estate investments, net lease properties have emerged as an enticing option, captivating commercial investors with their unique financial structures. Net lease agreements empower tenants to participate in the financial … Read more

    Read Full Post