An Easy Guide to Setting Up the Right Business Premise

An Easy Guide to Setting Up the Right Business Premise

Many small business owners have humble beginnings and start from the comfort of their homes, especially in the field of drywall estimating services. . That said, as you grow it might be time to set up shop outside. Remember, getting your business premise right is another crucial aspect in growth, depending on the nature of your venture. For example, the way you organize and present your business premise will determine your level of productivity in your team. It can also have an impact on aspects like supply chain management and more. Now, here is a quick guide and tips on setting up your business premises.

Think accessibility

The business premise that you choose needs to be accessible to your employees, visitors, and potential buyers. If your workspace is hard to access, you will quickly lose business, and employees might not be willing to join you! Other than this, ensure you structure your parking space effectively to cater to both private and public parking.

Map out your ideal workspace

By the time you are starting a business, you already have in mind the type of workspace you will need. It is advisable to have a separate workspace from where you live to improve your concentration and productivity. For instance, if you are in the manufacturing industry, you would need a couple of offices to hold meetings, warehouses for storage, and changing rooms for your staff.

Consider legal issues

Once you have decided on a particular premise, seek to find out the dos and don’ts to protect your growing business. Some of the legal obligations include compliance with health and fire regulations, abiding by terms of the lease agreements, and ensuring that the premise has planning permissions. Keep in mind that you are liable for the health of your employees as long as they are working within your premises.

Research different types of premises

Depending on the nature of your business, you might need either retail, office-like, or a light industrial premise. Would you please do your research and determine which type of premise will suit you best? Locate surveyors and real estate agents in your area and present them with your desired outcome.

Utilize social media

If you have been operating your business online, it might not be hard to let your customers know you have opened a new retail premise. However, business owners lacking an online presence might have difficulty letting potential customers know their existing beliefs. Formulate a working content strategy and add your new location and photos of your workspace to attract customers.

Prepare a space to host events

It would be best to select a spacious workspace to eliminate the extra cost of hiring grounds to host events. Business events allow you to interact with new clients, display your products and services and encourage sales.

Select an appropriate location

Ask yourself whether you want to base your premise in the city center or the quiet outskirts of town. It would be best to locate your business near suppliers and raw materials to reduce the cost of transportation. Find out where most of your customers will be coming from and consider waste disposal services in the area.

Hire security services

It is also important to think about your overall business security as you set shop. You might be asking yourself, what is security guard duty and responsibility in your business? Well, it should be a shame for robbers to break in and steal what you have worked so hard to achieve. So, ensure you hire the services of professional security guards to protect your people and assets.

Weigh the pros and cons

You could be torn between renting a workspace and purchasing land to construct a building for your business. Consider your budget, premise-based overheads, how many employees you intend to employ, and your preferred location before deciding.

Obtain proper insurance

Businesses that operate from home are in the clear and do not require insurance. However, if your business deals with engineering or buying and selling, you will need to obtain insurance from a licensed mortgage provider.

Create an excellent first impression

Your customers and competitors will judge your business and its operations based on its physical appearance. Distribute exciting plants and shrubs, paint shabby walls, and refresh your display to showcase new products. Seek the opinions of your staff and fellow entrepreneurs on improving the physical appearance of your workspace.

Know the demographics

Consider the age, cultural beliefs, purchasing power, and level of education of your population to determine how best to capture their interests. Classify your demographic into smaller market segments to make it easier to appeal to every group. Learning your customer’s interests will determine the location of your premise and is critical if you want to develop relevant products that will sell.

Plan for the internal layout

Now that your external and internal customers have been made aware of your new business premise, have fun with planning your internal layout to appeal to them and advertise your products. If you are selling clothes, display some statement pieces on mannequins. Maximize the space in your business premises by adding open shelves and hooks to hang items. Consider having a glass display so that passersby can window-shop and see what you have to offer.

Obtain a license

Licensing your business will enable your customers to identify you quickly, protect public health and keep you accountable for your actions. You are guaranteed lucrative packages that include maintenance rates, business rates as well as necessary insurances.

Investigate possible financial support

Find out if there are loans and financial grants available for businesses in your field. Reach out to local authorities in your area that might be offering financial aid to boost small businesses. You could also increase cash flow by cutting down on your expenses and reevaluating your spending habits.

Final remarks

As a business owner, we hope you are now equipped to set up an attractive business premise for your growing enterprise. Opening a retail business premise is a huge step that will skyrocket your online business to tremendous success. Invest in creating the right home for your employees, customers, and other stakeholders.

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