How to rent the right space for your small business

One of the most important decisions you will make is where you physically locate your small business. You will need to consider several different factors since where your small business is located will affect how your customers can find you, how you will get supplies, and how much you pay for rent. Since rent is often one of the largest expenses for a small business the small business owner needs o carefully consider where they will rent. It should be stressed that a decision to rent a space should only be done if the small business is too large to run out of a home office or if it is simply not viable. Here is what you need to know about how to rent the right space for your small business-

- Start out small-It is important that when you go to look at spaces that you have a realistic idea of how much you will really need. Business experts recommend that you choose a smaller space over a larger one. Keep in mind that while you do need space for every foot you add on you will be paying to rent it, heat it, cool it, and clean it. This makes it crucial that you don't rent too much. While you want to consider immediate growth keep in mind that if your small business grows super fast you'll have to get a bigger space anyway.The bottom line is thesmaller the space you can get by on the better off financially your small business will be.
- Consider the logistics-Another important consideration will be the logistics of the space that you rent. Will your customers be coming directly to your place of business? If they will you should consider parking, safety, and the ease of getting into your building. Will you be receiving deliveries? You will need to make sure that your vendors can deliver to your small business. Some places may be inaccessible to big trucks or require walking up several flights of stairs (which your delivery service will charge you more for). If you don't have to consider any of these things then it frees you up to choose a variety of different spaces.
- Negotiate with the landlord-In most communities the current economic conditions make it a renters market. This means that you can negotiate with your landlord to get the best deal possible. Even if the landlord won'tcome down much on the rent you should ask for concessions on janitorial services, parking, utilities, snow removal, or anything else that affects the space that you are considering renting. Keep in mind that you should see several different spaces so that you can be aware of not only what the going rental rate is but also what concessions are possible and what landlords are offering. This information can help you to get the best deal possible.
- Ask for help-Small business owners should keep in mind that commercial real estate is much different then residential. No matter how many homes you have bought or rented there will be things on the commercial side of real estate that you don't know and may surprise you. This is why it is so important to enlist the help of a commercial real estate professional. You should not hesitate to get someone involved who is familiar with the commercial real estate market in your area. They may not only be able to find a space that you may not be aware of but they can also help you negotiate the best deal possible. While you will pay more then just doing it on your own the money and hassle that you save may just be priceless.