Sourcing the Right Premises for your Business

Starting a business may be perceived by some as a plunge into the unknown. It does not need to be that way with 121 consultants, who may assist you with sourcing the right premises for your business. To set up shop, you will need an appropriate premises, which may consist of an office, in a location which complements your operations.

There are different ways that businesses may approach the securing of their premises. First off, a business would need to identify whether it needs to buy the premises or rent. The right approach would heavily depend on the standing of the company.

Companies that are start-ups may opt to rent at first, considering that they would need to cater for several expenses to kick-start their operations and build a customer base. If a business benefits from a significant cash injection from the offset, buying the premises may be a good idea. The business would be relieved from the costs of leasing, although maintenance and upkeep works would still need to be considered and handled directly by the company. A business that opts to purchase the premises can then consider leasing space to other companies, that may be interested in renting.

Sourcing a premises for lease has its benefits since you will not need to invest a significant amount of money at one go, enabling stronger cashflow for other day-to-day business requirements. This option allows a business to move out of the premises without too much commitment if it no longer accommodates the growth of the company.

Another key factor that a business would need to consider is location. One of the rules of real estate revolves around the importance of location and the place you choose will have significant impact on your operations. If the business intends to attract top calibre talent, including specialists, central areas tend to be most preferred by such employees. This is one of the reasons why companies in thriving industries such as gaming tend to set up shop in Sliema, St. Julian’s and Gzira.

Companies with an industrial background may prefer more adequate locations such as Mriehel. Another important factor to keep in mind when it comes to deciding on the premises for your business is whether you will be greeting and meeting clients there. If a business will be greeting clients on a regular basis, you might need to pay more attention to the level of finishing.

Speak to 121 consultants so that you may kick-start the process of landing a new premises for your business.