While all your friends were out partying on Friday nights and brunching on Sundays for the last six months, you've been diligently working on your business plan. Ready to start your small business, you've put in countless hours trying to make this happen. You've found what appears to be the perfect building. However, before you sign a commercial lease, you should do some advance research to determine if the building will be a good fit for your particular business. Choosing a facility is one of the most critical decisions you will make as a business owner.
Location
"Location! Location! Location!" That famous phrase has loads of truth to it. If you are running a business where you would benefit from a lot of walk-ins, be sure you scout out locations that have good foot traffic and are easily accessible to the general public. Having an espresso bar the middle of nowhere in a nearly deserted industrial park won't do you any good and surely won't bring in the revenue you will need to get your business afloat.
Parking
Depending on the type of business you are operating, you'll likely want to have a suitable amount of parking for patrons. For instance, if you are running a workout facility such as a weight lifting gym or spin classes, consider finding a spot with ample parking for customers. The last thing someone wants to worry about is feeding their meter every 30 minutes, getting a ticket, or even having to circle around looking for parking in the rain. Make it easy on your customers. For more information, see FindLaw's Small Business section.
What follows is a series of questions that can help you evaluate the pros and cons of leasing the facility for your business.
Yes/No Is the area zoned for this type of business?____ Does the area convey the right image for this business?____ Does the building convey the right image for this business?____ Is the building in need of any repairs?____ Will the landlord make the necessary repairs?____ Is there adequate space for the business in this facility?____ Is there space in the facility if the business needs to expand?____ Does the facility provide extra storage space for the business?____ Does the layout of the space meet the needs of the business?____ Does the space need any improvements?____ Does the landlord pay for the improvements?____ Is the lighting adequate?____ Is the ventilation adequate?____ Can the existing utilities meet the needs of the business?____ Are there a sufficient number of electrical outlets in the space?____ Are there qualified employees in the area?____ Is the facility accessible by public transportation?____ Is there adequate parking for customers?____ Is there adequate parking for employees?____ Are the parking areas adequately lit at night?____ Are there any restrictions on when employees can be in the building?____ Is the facility located in a safe area?____ Does the facility provide any type of security?____ Does the landlord heat the facility on weekends?____ Does the landlord cool the facility on weekends?____ Is the facility accessible to suppliers of the business?____ Is the facility accessible to customers of the business?____ Are any competitors located in the facility?___ Are any competitors located in the same vicinity as this facility?____ Is the rent favorable?____ Are the terms of the lease favorable?____ |
Using a Lawyer
There are numerous considerations that go into choosing the right location for your business. Having an experienced lawyer help you navigate through the process and review your lease agreement before signing is a smart move. Contact a business and commercial law attorney now.
