If you are running a successful business, whether it is an ecommerce business or a service-based business, you may find that there are some interesting ways that you could expand or diversify by investing in commercial property and having bricks and mortar locations or office sites.
There can be all kinds of reasons for doing this, from getting proper warehousing space that can allow you to sell a wider range of products online or opening a physical shop or showroom, through to creating an office where you and your staff can collaborate and meet with clients if you are a services business.
Know What You Need
It can be daunting moving an online business into a physical location if you are used to running things from home with your team all working remotely, however if you know what you need, you can ensure that everything that comes out of the move is positive.
Where is the best location for your office, shop or warehouse? You can do market research to assess competition, you can look into how easy it will be for staff to commute, and how central a location you can offer for clients who visit you. How much room do you need? You will need to base that decision on your current situation and your strategy for the mid-term future, both in terms of staffing, and the products and equipment needed.
Once you have a good idea of the kind of specifications of a property that would suit you, you can begin to shop around and get a firm idea of the price for what you are looking for.
Return on Investment
When you know what the costs of buying a property are, you’ll also need to work out how much it will cost in overheads to be operational. When you have this figured out, it will be easier to look at how your property will bring in money for the business, for instance by allowing you to win new customers, or allowing you to diversify your offerings.
Funding Your Property Purchase
If you are thinking about bringing your business out from the internet and setting up some roots in the physical world, then one of the biggest hurdles can be getting access to the money to buy property. If this is an obstacle for you, but you know the type of property you need or have even identified a specific place you would like to buy, then bridge loans help the purchase of commercial properties and are an option well worth checking out. They can provide you with quick access to funds on a short term basis while you arrange things like mortgages or accrue the money you need for the purchase (for instance, if you are in a negative cashflow situation but will have the money you want to invest in the property soon).
These are all of your main considerations as you begin to plan investing in commercial property to use for your existing business, allowing you to assess how viable it is to turn your online business into an offline one.