Whilst I’m often called in to help clients when things go south with a lease negotiation, getting commercial property advice earlier in the process – when you’re still thinking about taking on a commercial property and before you get stuck or worse, committed – is actually a much wiser investment as a business owner.
Engaging a commercial property consultant like me before you even start your property search will save you time and money, help you avoid the costly mistakes I see all the time, and ensure that you find the right property your business needs.
Whether you’ve a few office relocations under your belt or you’re considering taking on your first commercial lease, in this blog I walk you through the full end-to-end process to help you understand the benefits of seeking advice at the right time to spot and skip over those trips and traps that catch the unwary or unadvised business owner.
- Business Needs Analysis – the starting point
Some business owners start in the most unusual places. Asking the question ‘What does the business need?’ is the vital, first step towards identifying the ‘right’ property on the ‘right’ terms for your business. It is all too easy to get sidetracked on a particular aspect of your next premises and the overview gets a bit lost. The answer to that question, by the way, lies in your business plan.
Together we will brainstorm your business plan and compile a wish list of the characteristics and features that your commercial premises needs – a template, if you like, against which we can compare what is available in the marketplace.
I will then work with you to explain and identify the key lease terms that are critical to your business, enabling you to clearly identify what aspects of a potential lease and property are in that category. Check out this video for a quick summary of how to do it.
- Commercial Property Search
With access to specialist resources and over 35 years of experience of the commercial property market, I can then seek out that ‘right’ property for you as defined between us, in Stage 1. After sifting through the stock of potentially suitable business premises to rent, I will show you what is on offer from which we can create a shortlist to inspect. I will also show you the pros and cons of each option and help you identify the best match for the business.
- Lease Negotiation / Renegotiation
One of the most challenging and often emotional areas I support business owners with is commercial lease negotiation. This step is the culmination of the entire process. Before you enter any business negotiation you should know what you actually need and want, to support your end-objectives. This is why the work in stage one above, is so important.
In a lease negotiation, I always invite my clients to consider what their priorities are, and also what the landlord has as their priority. I use my experience to structure a proposal built around your key terms.
We want to avoid the landlord dictating the terms. Full, comprehensive knowledge is what is required to negotiate on a level playing field. Understanding where we initially position ourselves on each term to conclude the negotiation where we are happy, is a central component of this stage.
I work with you on the final agreement to ensure it is the one that saves you time and money. Having me on your side will give you control and ensure you get the right property on the right terms.
In summary, getting commercial property advice before you embark on your journey will ensure you:
- finish up with the commercial property that suits your particular business needs, and
- negotiate the best possible lease terms for you (rather than for the landlord!),
- avoid costly mistakes and
- save money, time and hassle
Click here to find out more about my commercial property search, business relocation and lease negotiation support services.