With the changes in technology the opportunities opening up to new business in some cases are endless.
If you are a small business or cottage industry many individuals can now operate from their home or small office.
However if you are a business that requires premises and staff then their are many areas to consider
- What kind of operation will you be running from your premises?
- Will it be a retail outlet?
- Sales only to wholesalers or tradespeople?
- Manufacture, Office Work, Bulk Storage. Distribution?
- Will it involve the preparation of food or the use of dangerous substances?
- Where will your main office be and what will you do there?
- Will it be purely an administration centre or will it be the main offices?
- Will you require more than one site in the UK or on a global basis?
Others areas to consider
- Will your proposed site need to be near your customers?
- What will be the availability of labour in your chosen location ?
- Will the location be suitable for management and skilled labour?
- Will your proposed site be near major roads for ease of access?
- Can you obtain planning permission for the intended use?
- How much space do you require – will it be office and warehouse or just one or the other?
- How much will have to be on ground level ?
- What services do you require ?
- Do you have access for delivery vehicles etc ?
- What parking space will be required?
- Will you need to invest in modification and will alterations require approval by the local planning or landlord?
- Will the premises comply with any legislation for relevant use?
- Will the premises be rented, leased or purchased?
- How easy will it be to raise the finance?
- What will the cost of surveys entail?
- How much will the maintenance and insurance premiums be?
- What frequency will the rent and rates be reviewed and have you allowed for this in cashflows? – at present times these will be low but this will not always be the case
This is just a quick overview and as you can see there are many areas to consider.
Next Article – Business Planning –Sales Forecasting Overview
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