Making the Right Choice for Your Business
I met with a client earlier this week to review property availability and he was surprised by the fact that there are no available properties currently on the market that meet the requirements for his business, within the location he needs. There are some options that we have identified which we are now in discussions on, but these aren't available immediately. This is becoming a familiar tale as I speak with many business owners who want to take their business to the next level but their expansion plans are on hold until they can find a suitable property to move to. Imagine the potential loss of revenue due to this scenario.
If you are struggling to find a property, you have a number of choices but which is the right one for you and your business?:-
1. Continue to invest your time and resources into finding a suitable property. Finding a property sounds easy, but i can assure you it isn't. So how long do you give it before you cancel your plans on moving or call in someone who can help (typically I am contacted by businesses who have already been looking to move for between 12 to 18 months but in the most extreme cases it has been three to five years). How much has this already cost the business, in lost time and lost revenue?
2. Put on hold or reduce your aspirations to grow your business and manage from your existing property. I appreciate that in some cases you might not be able to stay in your existing property.
3 Engage a property expert to try and find a suitable property for you. They will not be able to guarantee to find you a building, but you will significantly improve your chances by getting an expert on board. The property expert will charge for their time, but you will be safe in the knowledge that someone with the experience and contacts is scouring the market looking on your behalf. It also means that your time can then be used more effectively and by not getting distracted on the vagaries of the commercial property market you can remain focused on the running of your business.
The choice is clearly yours.