Do You Need Your Own Premises When Starting In Business?

It’s often assumed that starting a business means a lot of expense and premises is definitely one of the bigger costs for startups. But you will no doubt be aware that it’s much more common than it was in the past to start a business from your own home. There are a few things to consider when assessing if it’s necessary to have dedicated premises or not.

What Do You Need To Store?

Storage is key. Do you have stock that you sell? If so is it bulky or is there a lot of it? If you are starting out small and don’t have a large amount of stock then maybe premises aren’t needed for this. But one of the advantages of certain dedicated premises are the security arrangements and if you have a secure place then insurance will be easier to come by and cheaper as well.

Do Customers Come To You?

If customers come to you to do business then it seems logical that a business premises will present a more professional appearance in all but the smallest operations. Especially if you are looking at retailing anything then you will have the premises to cost out but also the fitting out of the shop and fittings. Even an office based environment has furniture and decorating costs attached to it.

Is It A Large Operation?

Obviously size plays a big part. Storage of large items or stock, machinery or manufacturing requires the correct premises, properly kitted out. Make sure you are not underestimating the cost of setting up a premises or you could be out of business before you even begin. If you have a lot of space needed even for things like storing fuel to be delivered by a specialist such as Beesley Fuels you need to be aware of the space required for this.

Will A Certain Location Give You Prestige

In certain industries it is possible that having an address in a certain city or district will give you an impression of success or prestige. It may be that being near to a certain type of client will be advantageous or it could be proximity to suppliers or road, rail or airport access. If you are struggling to get a certain postcode within your budget there is always the option of having a virtual office, this is where you pay for a company to register your business at an office in a certain city and can even supply you with a virtual phone number in the same area code to give the impression of being bigger than you actually are.

How Suitable Is Your Home For Working From?

If you do find you have a business that is suitable to be run from home is your home a suitable place. Do you have a home office or workshop that is suitable for the work you need to do. This is key as it’s important to have a space away from home life to be able to do this.

Other OptionsHave you considered the option of flexible office space. Here you can buy space as and when you need it and you effectively hot-desk a space as and when. Other options are to combin

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