Taking on your first business premises

It’s a big step. Your entrepreneurial dream started at home, your business has been home-grown. But now you are ready to leave the nest and take on premises. You’re ready to move on from the kitchen table, spare room or garage.

Boxpod visited The Business Hut to find out about its first step on the commercial property ladder. imageOwners Charlotte Prigmore and Victoria Morley moved from being home-workers to taking on a high street office.

Charlotte said: “One thing about working from home is you don’t feel you can switch off, you are always at work. Since we have moved into the offices we have become more productive. We are both very financially minded, we don’t make purchases on a whim. This is a well-planned move.

“We are renting on a rolling contract, there is no long term burden, no risk.”

 

So, words of advice from a business which has just made the move from home to commercial premises.

  • Be realistic about your budgets and sales forecasts. What can you afford – not just now but in 12 months time
  • How will moving into business premises grow your business/brand awareness
  • Financial planning is key
  • Research the best location, size and type of premises.

Is it worth it? The Business Hut outlines the benefits of its move:

  • Increased brand awareness with high street presence
  • Easier to network with other businesses and professionals
  • Gives the business a more professional appearance, more accessible

Your checklist

  • Ask yourself why are you ready to move
  • Check secure finances are in place to make the move and commit to overheads (now and in the future)
  • Consider how it will add to your business success
  • Account for costs of moving, changes to stationery, commuting costs etc

Find your premises

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Charlotte and Victoria set up The Business Hut (a business support company for SMEs) in March, 2014.  Contact them at www.thebusinesshut.co.uk  for business support and advice on financing your next commercial premises