Consider whether your business will be in a city, a suburb, a small town, or out in a countryside area? And whether this will make it easier (or harder) for you to get necessities - such as a trained workforce or access to an airport? Can you operate anywhere, or must you be at particular area to make a statement about your business, or attract the right customers?
A good facility should:
- Allow you to efficiently carry out the necessary functions of your business
- Present your business in a good light.
- Allow for growth potential
- Fulfill your needs at the right price.
If you are buying or renting, complex tax and cash management issues are involved, so get advice from a trained account or lawyer.
Before you rent or buy, find out what the property is worth on the open market. Then think about what you can afford to pay, taking into account the profit potential of your business. For this, you need help from a real estate expert who knows the business property in the area.
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