Are you looking for the ideal business premises to ensure your company’s success? Here’s how it works.
According to a 2021 study by the Union des Franchiseurs (UFI), the average time for franchisees in France to find commercial premises is 6 months.
This can vary considerably depending on the type of premises you’re looking for, the state of the real estate market, your budget and your search strategy.
Defining your business needs
Before embarking on the quest for ideal commercial premises, it’s essential to define your specific needs.
This means choosing the type of business you’re going to run from the premises.
This will help you determine the size, configuration and functionality of your commercial space.
It’s also important to understand your target clientele, so you can choose a location suited to their needs and shopping habits.
This will help attract more customers and increase the profitability of your business.
Also consider your budget, including rent, utilities, maintenance costs, any additional costs, and any fit-out work required.
Next, establish your location preferences by determining whether you’d like to set up in a busy city center or a quieter neighborhood.
These elements are essential to guide your search for the ideal commercial premises.
Market research
A study of the local market is an essential step in the search for the ideal commercial premises for a company. In particular, you need to analyze new consumer trends, the proximity of public services, parking spaces and bus stops, as well as accessibility for people with reduced mobility. You should also study the surrounding business, the national chains present, and the attractiveness of the area for your potential customers. Depending on your activity and target clientele, the study will determine the size, layout, accessibility and characteristics of the premises that best meet your needs. You’ll also be able to identify direct and indirect competitors, their strengths and weaknesses, market share and marketing strategies. This allows you to position your company in a differentiated way.
Perform research
Once you’ve identified your needs and studied the market, you can consult the various resources for choosing your commercial premises. For example, real estate websites will help you discover commercial premises available for rent or sale. You can also enlist the help of retail experts to guide you in your search and negotiations. What’s more, exchanging with other entrepreneurs on professional networks will help you get relevant recommendations and advice. At the same time, take a look at real estate advertisements in the local press and trade publications to identify opportunities that match your search criteria. Then it’s important to draw up a budget, taking into account the rent, utilities, maintenance costs, additional costs and any work to be carried out. The premises you choose must fit within your financial limits.
Visiting and evaluating commercial premises
When visiting potential commercial premises, you need to carefully evaluate several aspects. First, focus on the location, checking its accessibility, proximity to public transport, and the general attractiveness of the area. Next, make sure that the size and configuration of the space correspond to your specific needs in terms of sales area, storage zones, and functional workspaces. In addition, take a close look at the general condition of the premises to determine whether it requires major renovation work and whether hygiene standards are met.
Negotiating lease terms
Once the commercial premises have been found, the next step is to negotiate the terms of the lease with the owner or property manager. You can call on a lawyer specializing in real estate law to guide you through this vital step. Once the terms of the lease have been agreed, finalize the transaction by signing the rental contract. It’s essential to understand all the terms of the lease, including duration, any additional costs, and legal obligations.
Sources :
– Union des franchiseurs (UFI): https://www.franchise.org/franchise-information/franchisee-associations-nothing-to-fear-but-fear-itself-usually
