The right property does 50% of the heavy lifting for your business

Securing the right site is a key decision for business owners. Whether buying or leasing, your choice impacts operations, sales, customer experience, and, potentially, long-term profitability. The right property can do 50% of the heavy lifting for your business. The opposite can also be true for a challenging site.

Here’s why it matters….

1. Visibility
   A prime location increases your visibility to customers. Yes, you’ll likely be paying a higher amount but if the visibility delivers foot traffic, this can be a major factor in business profitability. 

2. Accessibility

   Visibility may not be a huge factor for you and your operation. Accessibility is generally important for most businesses - particularly those working in the B2B and B2C space. As an example, a manufacturing business may not need main street for a warehouse but could need to consider turning circles and convenient logistical access. A medical site may not need high visibility, but it will need an area that’s logistically accessible and plenty of parking.

3. Operational Efficiency

   Think about your floor plan. What’s currently important for your business and do you need to consider more space for growth? If the existing site you’re signing up for needs a significant amount of work before it meed you business requirements - this along could set you back significantly (check out my article titled ‘Why I encouraged my client not to buy the site they had their heart set on’

4. Cost Management

   A poorly chosen property can lead to unexpected expenses in renovations, utilities, or lease renewals. Conversely, the right property maximizes value while minimizing long-term costs.  

5. Location Matters

   Regardless of whether you’re chasing main street visibility or a block in a quiet regional area, location really does matter. Consider what you want from your business, maybe you’re content with a site that will deliver a consistent pattern of suburban clientele. Maybe you want a prime location and you have the appetite to manage the staff required to meet the demand of clients. 

Ultimately, your first step in selecting the right site is to determine the type of business you want and how that fits in with your aspirations.

What to Consider When Buying or Leasing

1. Location

• Is it easy to find / to get to?

• Does it have good public transport and parking options?

• What are the surrounding businesses/buildings like? Are they complimentary with your business?

2. Zoning and Legal Compliance

• Ensure the property is zoned appropriately for your business activities. This is an important step - don’t skip it.

• Check for restrictions or permits that might affect your operations.

3. Space and Layout

• Does the property have enough room for current needs and future growth?

• Consider functional spaces like storage, customer areas, and staff facilities.

• Considering the property condition, what are your initial out of pocket costs to set the site up? Don’t underestimate how costs can blow out if the site needs work.

• If you’re leasing, what’s the property owner contributing to the fit out or is there a rent free period akin to your initial out of pocket expenses

4. Lease or Purchase Terms

• Understand the financial commitment involved. Call up agents to understand what the comparable rate is for similar sites in the area.

• Look for flexibility in lease terms or room for negotiation if purchasing.

• Have you asked enough questions to know what negotiation levers you can pull on?

5. Area Trends and Future Potential

• What’s the area’s growth potential? Check with the council and state government to understand what changes may happen in the area which may affect your site and your business.

• Look for properties in areas that are trending upward but still affordable.

• Chat with other businesses. Business owners are generally very happy to discuss business and property and you may get some invaluable insights and information that no amount of online research could ever offer.

How a Commercial Property Advocate Can Help

Commercial property can be a hard market to navigate. You don’t have the automated data that the residential property platforms offer to determine where the value is and what the comparables on offer might be. 

We’ll do that. 

Every dollar and every opportunity matters in your business.

We’ll make sure you’re securing at the best rate possible on the most favourable terms for your business.

We’ve had businesses, we’ve leased sites and purchased sites for our own businesses.

We personally understand the impact a site has on your business and we pursue the best possible outcome for you.

Our service comes with a fee, and our driver is that the fee is covered by:

• The savings we secure on your purchase or leasing price (currently at about 15% off the asking price)

• Securing the terms of the agreement in your favour - we make sure you won’t have any costly surprises waiting for you on the other side of the agreement

• Securing sites others just won’t have access to

• Market and industry knowledge - we have extensive experience in most industries to understand what sites will work best for a business - don’t wing it.

• You keep focussing on your business. It takes time and focus to find the right site and keep the negotiations going favourably. Don’t let your focus slide from your business. We’ll do what we do best while you do what you do best.

Align your business with the right property and let the site shoulder half the load while you focus on the business and the bigger picture.

Call us today, there’s no obligation.

We do what we do because we love working with businesses and organisations and setting them up for success.

Book a time to chat here or simply call Vicki on 0418 357 609.