smallbusiness.co.uk: Helping your business think big

Smallbusiness.co.uk's Top Ten Property Tips offer invaluable advice on your business' property needs, providing hints on finding the ideal location, utilising your office space and negotiating deals.

For more useful products and services relating to property click here.

1. Put yourself in your customers’ shoes
If you have a retail business, you need premises where customers will walk past. Test your potential choice by standing outside the premises on days that are likely to be busy for the business and on days likely to be quiet. If your business deals with specialised goods, you will not need to be so close to your customer base. Consider if competitors are based in the same area – too many will mean you may struggle for business, and too few may mean there isn’t enough demand for your business in that area.

2. Don’t rely on measurements from estate agents or landlords
Measure the property/premises yourself. If the area is less than you have been told, this could mean you can pay a lower rent. Don’t forget to factor in running costs into the total price, as well as any alterations or improvements that may be necessary.

3. Be flexible
If you are renting office space, consider the number of employees you have, and whether you plan to take on any more in the near future. Then work out what space each person will need – an open plan office will give you more flexibility in the long-term.

4. Justify every inch of space
Space costs money, so make sure you plan and can account for what you are using. If you are paying for unused space, consider renting it out, or sharing to meet the costs. If your premises require you to pay for a service charge, ask for a detailed breakdown, to ensure you are not paying a charge on parts of the building that are not in use.

5. Visit the property several times
It’s a good idea to look at the premises a number of times on different days and different times of the day. This will give you a more informed view of decoration, heating, lighting, noise insulation and other businesses that may operate in the same building.

6. Negotiate lower rent
It’s always worthwhile trying to negotiate a lower rent, especially if you are planning on taking out an extended lease. If there is a lot of vacant property around in your chosen location, try asking for a rent-free period of three, six or twelve months. Similarly, if the premises you have chosen need repairs, ask for a rent-free period or discount until these are carried out.

7. Make good use of technology - try hotdesking
This is where employees set up office at an available desk. When they’ve finished working, they move on and leave the desk available for someone else. This offers you flexibility and enables you to factor in one desk for use by several employees at different times, or by employees who work mostly from home, but who may need to pop into the office from time to time.

8. You don’t have to have dedicated premises
With advances in communication, it’s now possible to run a business without having dedicated premises. A virtual business removes two major overheads: rent and employees, and it can be a cost-effective way of testing the water before establishing your business any further.

9. Serviced offices – check the pricing structure carefully
Go through everything with a fine toothcomb and make clear exactly what services you want to use and for how long. Ensure you find out what the notice period is. Check out the contract thoroughly, to ensure there are no hidden extras. Don’t be afraid to ask for a week’s free trial – if they want your business, they should be willing to let you try out theirs first.

10. Working from home? Project a professional image
First impressions count, so think about how you will answer the phone – use your company name, or your name in full. If you expect to receive a large number of calls as part of your business, it is worth investing in a separate line and number dedicated to your business calls. If you need to set up appointments or meeting with customers, you can hire out ready-to-use meeting rooms, which companies such as Big Yellow provide.