Choosing The Best Commercial Property For Your Brick And Mortar Business

Your years of planning, preparation, and savings are finally going to pay off, and you are ready to take the big step of starting your own business! For today’s purposes, we will focus on the classic business model of putting up a physical storefront that sells your goods and services. While many businesses lease a commercial space, owning your own has a great many advantages. Constructing a brand new building custom-built to your plans, or being able to put an existing building you have purchased through an extensive remodelling process will ensure that your brick-and-mortar establishment is ideally suited for your needs!

Once you have made the decision to go ahead and purchase land, or an existing building for your planned commercial property, get in touch with your local real estate agent so they can help you find what you are looking for. Your next big step is now going to be finding that perfect property to build your dream on.

Location – There is an old saying that goes “build it and they will come”, but you need to think carefully about building it somewhere they will actually come to! You have to find a property that will be convenient for customers to reach and that employees can commute to with reasonable ease. You also need to take into account how easy it will be for your suppliers to get to you, if you are too far away from the source of the goods you are selling then your shipping costs are going to be high, as well as the time factor involved in getting those critical items out to you! Another very important thing to look at during your search is how far a property is from highways, shipping lanes, and railways.

Zoning – These days there is a zoning law for everything no matter where you go, there is no escape. So really, the only thing to do is follow the rules and search for a commercial property for your planned venture that is within the right zone. It’s critical that you abide by the rules or your business could find itself dead in the water, mired with violations and expensive fines! Your real estate agent is going to be savvy on this subject, but you had best be aware of it yourself to avoid disaster!

Future Expansion – No one can see the future, but that doesn’t mean we shouldn’t take a few educated guesses! What if your new venture is successful beyond your wildest dreams, and you need to grow? Will your existing property be able to handle a sizeable expansion? It may be that you will one day want to open a second location, but make sure to give yourself some wiggle room in your first so you can have a bit more commercial space ready to open up when you need it.

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The Australian Taxation Office is going to want to know all about your property purchase so be sure to keep careful records of all your transactions so you don’t end up with a hefty fine! Good luck, we look forward to your grand opening!