You’re probably familiar with the three L’s of real estate—location, location, location! Certainly, location is incredibly important for homebuyers, but it’s also important for business owners. Whether you’re opening a restaurant or simply looking for some corporate office space, your physical locale is important, and can have a major impact on your success.
At Kuester CRE, we take pride in helping our clients find locations where they can thrive—something that involves a number of different factors. If you’re seeking office space for your business, here are just a few guidelines we’d recommend keeping in mind.
Finding the Best Spot for Your Business
Is there room for your business to grow? Obviously, you want facilities that can meet your immediate needs—but what happens if your business takes off and you find yourself cramped for space? Consider future growth and allow your company a little wiggle-room to expand.
Where do your employees live? Nobody likes long commutes, and if your business is an hour away from where all your employees live, that can spill over into a morale problem. A more centralized location is generally preferable.
How does this space reflect on your brand? If you have an estate planning firm, you may not want office space in a strip mall, nestled between a Buffalo wing joint and a massage parlor. And likewise, if you’re opening an ice cream shop, you may not want a location amidst accountancy firms or medical offices. Find a space that aligns with the kind of business you have, and the kind of image you’d like to project.
What about parking? Does your business need a lot of parking space all its own? Will just a few spaces be enough for your customer base? Where can employees park? And will proximity to public parking be sufficient? These are all important considerations.
Does the building comply with the Americans with Disabilities Act? You’ll want a space that’s ADA-compliant. Ask your real estate broker more about this. Suffice to say that, with newer buildings, this typically isn’t a problem.
Does the space have a secure rental/lease rate? Are you in danger of seeing a major rate hike after your first year in business? For some companies, that can really be make-or-break. Again, you might ask your real estate agent about this.
Will the location offer sufficient visibility? Does your business thrive on foot traffic—and if so, will your prospective location provide it?
Obviously, these are just a few of the things you’ll want to consider as you seek the best location for your business. If you’re in the Carolinas and want some help selecting a space that’s just perfect for your business, give us a call. Kuester CRE would love to become your real estate partner, and to help your company thrive! Reach out to us at our toll-free number, 855-723-2500.