Renting a Premises is Okay, Building Your Own is Better

Last Updated: 

November 21, 2023

Renting a Premises is Okay, Building Your Own is Better

Many businesses rent premises. And the economic reasons for doing so are understandable. Companies want to minimise their short-term financial risk and keep their cash flow healthy. They don’t want to burn through all their capital upfront.

Unfortunately, generic premises never quite serve businesses perfectly. Commercial property owners know that they need their premises to serve a broad swathe of businesses if they want them to be successful. So they are often unwilling to offer anything too bespoke. It narrows down their target market too much.

When you construct your own purpose-built premises, however, it changes the dynamic completely. You get something that fits your brand like a hand in a glove.

Key Takeaways on Why Building Your Own Premises is Better Than Renting:

  • Leave Room for Hosting Events: When designing your own business space, consider the need for hosting events. Ensure the space is versatile enough to accommodate large groups, including employees, for various events.
  • Consider Accessibility: Prioritise accessibility in your design. This includes providing parking for disabled users, disabled toilets, and possibly an elevator. Ensure there are no barriers to wheelchair access, like lips between interior and exterior.
  • Pick a Quality Contractor: Choose a contractor experienced in commercial developments who understands your specific requirements. Look for those who use high-quality construction methods and technologies like flying-end mesh reinforcement and computer-aided design.
  • Choosing the Right Construction Partner: Selecting the right contractor is crucial. For example, Sunward Steel Buildings in Utah offers tailored steel building solutions, ensuring durability, cost-effectiveness, and alignment with your brand identity.
  • Plan Your Workspace Using AI: Use AI solutions to plan your workspace optimally. AI can help arrange the space based on various parameters, such as employee comfort, access to daylight, and efficient layout.
  • Choose a Location That Everyone Will Love: The location of your business premises is critical. It should be chosen based on industry needs, accessibility for customers and employees, and factors like local taxes and delivery vehicle access.

These takeaways emphasise the importance of thoughtful planning in terms of event hosting, accessibility, contractor selection, use of AI in workspace planning, and the strategic choice of location when building your own business premises.

Want to Close Bigger Deals?

In this post, we take a look at some of the things you need to know before setting up your own space. Check out the following ideas:

Leave Room For Hosting Events

Companies often get so carried away with how their operations will determine their workplaces that they forget to think about the need to use them for events too. It’s highly likely in the course of your business that you’ll need to host large groups, even if it’s only employees.

Consider Accessibility

You’ll also want to consider accessibility in the design phase. Customers, clients and workers may have disabilities. If you don’t provide access for them, your brand reputation and revenues could suffer.

Make sure that you offer parking for disabled uses. Offer disabled toilets, and if money allows, install an elevator. Try to avoid lips between the interior and exterior of your premises as these can prevent wheelchair access.

Pick A Quality Contractor

Make sure that you choose a quality contractor who has worked on commercial developments in the past. Ensure that they understand your requirements in full.

Specifically, look for firms that offer high-quality construction methods. Check whether they use techniques like flying-end mesh reinforcement and computer aided design.

Choosing the Right Construction Partner for Your Business Premises

When it comes to constructing your own business premises, selecting the right contractor is crucial. You want a partner who not only understands your vision but also brings expertise and reliability to the table. For businesses in Utah, Sunward Steel Buildings in Utah stands out as a leading choice. They offer a range of steel building solutions tailored to meet the specific needs of your business, ensuring durability, cost-effectiveness, and a design that aligns with your brand identity. By choosing a trusted contractor like Sunward Steel, you can confidently take the step from renting to owning a space that truly represents your business.

Plan Your Workspace Using AI

The next step is to plan your workspace so that you can arrange everything optimally. Instead of doing this manually, use AI solutions to do it for you. These are able to optimise your setup based on various parameters, such as employee comfort, access to daylight, and distance colleagues need to walk to get to facilities.

Choose A Location That Everyone Will Love

Whenever you choose a business premises, it’s critical to get the location right. Where you set up your firm can have a massive effect on how successful it is.

How precisely you decide to locate depends very much on the industry in which you work. Some brands will need to get as close to customers as possible and set up shop next to rival brands. Others need to find locations that workers can easily access.

Location can also determine the price that you pay to run your premises. For instance, you may find that taxes are higher in some neighborhoods and cities than other. You’ll also need to consider delivery vehicle access if you are a company that needs to handle products.

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