3 Things to Consider Before Leasing a Commercial Location
If you’re looking to lease a commercial location, it’s important to consider a wide range of factors to ensure the location is suitable for your business. A well-chosen location can contribute to your business’s success, while a poorly chosen one can have disastrous results. In this article, professional lease lawyer Glenn Duker lists 3 considerations to keep in mind when searching.
Take a look at the neighbouring properties
Once you’ve started narrowing down specific locations, it’s strongly recommended to research the neighbouring businesses that will surround you. You’ll want to make sure there are no competitors in the vicinity, while checking that the location is suitable for your business’s needs. For instance, picking a place with well-known supermarkets and anchor stores may bring traffic to the area, but is only beneficial if you’re not in competition with them. It’s also recommended to gauge the suitability of your business for any given location. For example, if you’re scouting an area that’s near residential properties, opening a noisy café or bar may draw complaints.
Keep the potential for future growth in mind
Another factor to consider is whether you think your business will experience growth in the future. If you do foresee this, it’s recommended to choose a location that allows you to expand if necessary. For instance, if you’re looking into a retail location, choose somewhere spacious, or if you’re starting a café or restaurant, you may like to select a site where seating can be expanded to outdoors. By catering to future growth before it arises, you’ll avoid the hassle of having to relocate at a later date.
Ensure easy access
In any location, it’s essential that customers and clients have easy access to your place of business. Before signing a lease, you’ll want to make sure there is sufficient parking nearby, or that there’s an adequate public transport infrastructure servicing the location. You’ll also want to look at the traffic in the area – a busy thoroughfare that’s prone to congestion may make people avoid the area rather than draw them in.
If you’ve found a location that ticks all the boxes, the next step is to consult with an experienced lease lawyer such as solicitor Glenn Duker, who can help you to look over the lease and make sure everything’s in order before anything is signed. Get in touch today for expert advice.
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