How to find the right premises for your new business

Are you finding it difficult to work from home but think renting an office in Bristol or leasing premises for stock will be too expensive? Here are some options to consider.

When you begin searching for office space it’s essential that you decide upfront what your budget is for monthly rental costs.

Start-ups and small businesses are usually seeking to cut costs and stay nimble, and you may benefit from the flexibility of short-term office leases.

The good news is that there are a number of low cost options available to you in Bristol including co-working spaces, managed workspaces and serviced offices.

They offer different and affordable solutions on easy terms, thereby reducing your office set up costs and overheads.

Running a business from home can leave you feeling isolated and there will be times when you crave human contact. Co-working is a great way to spend a few hours a week with other professionals in a similar situation and network.

In Bristol, the Funky Spaces website offers a variety of alternative and affordable workspaces for start-up and small businesses. For more information visit

www.funkyspaces.co.uk

BRAVE Enterprise is a member of the Funky Spaces network and we also have affordable meeting rooms and office space available for hire in the city centre. You can find more details below.

Or perhaps you have been trading from home but are now thinking of leasing some premises as there isn’t enough room for all your stock.

If you need to access your stock often, and still want to be home based, then ideally the premises shouldn’t be too far from where you live. Also consider how accessible the property is, both for deliveries and pickups.

Ease and cost of any associated parking is likely to be a factor as well. If your customers don’t need to come to the premises, then there may be no advantage in renting an expensive unit in central and prime retail areas; you could look further afield for a cheaper deal.

Some people manage stock storage without conventional business premises by renting garages in urban areas, for example, or renting storage units on agricultural land. Regardless of this, the premises should be secure, dry and free of vermin.

Another factor to investigate is the length of the lease. The longer the lease, the more long-term security you have with the premises, but the downside of this can be that if the business doesn’t work out or your life changes and you no longer want the property, you can get financially trapped by the contract.

It’s usually sensible to negotiate the right to give notice, or the right to give notice at a certain time point (known as a ‘break’ clause) and/or negotiate the right to sublet the space if you cannot give notice.

You should also make sure you are comfortable with the costs and responsibilities the lease places onto you in terms of maintenance, for example, or insurance, fire safety and redecoration. If you have any concerns or doubts over what the lease contract says, it’s best to get legal advice before signing it.