One of the major decisions that a person needs to make
when starting a small business in the brick and mortar world
usually is finding either retail or office space to utilize
for the small business’s operations. More often than
not, you will be renting or leasing premises for your small
business. Very few people who are starting a small business
enterprise actually purchase a building to house their operation
-- at least during the formative period. Therefore, through
this article, you will be presented some basic information
pertaining to how to go about finding retail or office space
to lease for your small business operation.
Consider Engaging a Real Estate Broker
Many people who are in the process of starting a small
business enterprise and who are in need of retail or office
space head off in search of a real estate agent. This is
not always the best course of action to take. The real estate
agent -- even a real estate agent who involves his or her
self in renting or leasing commercial real estate -- represents
the owner of that property and not you. Therefore, if you
are interested in engaging the services of a professional
to aid and assist you in identifying the most appropriate
retail or office space for your small business enterprise,
you will want to considering engaging a real estate broker.
A broker works for a person in your shoes -- and not the
owner of the real estate. He or she is charged with watching
out for your best interests.
Try to Avoid a Long Term
Lease
Unfortunately, in this day and age, shorter
commercial real estate leases are becoming more and more difficult
to come by. While there certainly are some benefits to a small
business owner who is able to obtain a long term lease, in
most instances such a lease is more suitable to a small business
that actually has been in operation for a period of time.
As the organizer and owner of a small business
that is just get off of the ground, you will not want to invest
in a lease for a truly long period of time. More often than
not, you will be best served during the formative phase of
your small business venture to obtain a lease for the shortest
possible of terms. In many instances, and in many places,
when it comes to commercial real estate -- be it retail space
or an office suite -- the shortest lease term that you are
likely to arrange is three years.
A shorter lease term is favorable -- some
would say necessary -- during the formative period of a new
small business venture because there is never any guarantee
that a small business idea ultimately is going to take off
and profit. If your business does not succeed as you hope,
you do not want the additional complication of a long term
lease dangling around your neck. |
