Finding the right location when you rent commercial property is, without a doubt, the most important consideration. But what about afterwards? What will it cost you once you signed that lease agreement? What other costs are you looking at going forward?
We are Box Office Warehouse Suites, serving the Greater Fort Worth area with outstanding industrial space and commercial property for rent. Call us at 817-439-3224 for more information.
First and foremost, rent commercial property which best fits your needs.
Let’s not get the cart before the horse. We would be remiss if we did not mention the importance of finding commercial property for lease which both fits your vision and fits your budget. The right location is the single-most important decision you will make and, not to be a downer, but if you cannot find the right location, at the right price, you should walk away to fight another day, when the stars align perfectly for you. Far too many commercial businesses fail because the owners do not see the warning signs of over-extension until it is too late.
Consider yourselves warned.
After you have rented, then what?
Okay, you have your location. Now what?
The devil is in the details, and no business can operate successfully without taking care of the “nickel and dime” details which can make or break your business. Whether you need office space for rent or retail space for lease, you will need to turn your attention to the following items:
- Equipment/furniture
- Utilities
- Insurance
- Inventory
- Marketing and advertising
- Website development
- Insurance
And what does this all add up to? Impossible to say; it will depend entirely upon the nature and scope/size of your commercial business. $25,000? $50,000? $200,000? A single article like this cannot possibly answer that question for you. Hiring a financial consultant might be your best bet at this point in the process.
Don’t break the bank; keep some in reserve.
If we are giving off overly cautious vibes at this point in the conversation, it is simply because we have seen far too many business failures in the last five years. According to the Bureau of Labor Statistics, 23.2% of private sector businesses in the U.S. fail within the first year. After five years, 48.0% have faltered. After 10 years, 65.3% of businesses have closed. Put another way, there are 32.2 million small businesses in the U.S., and about one-fourth of them will fail Those are sobering statistics and they need to be taken very seriously.
One of the most common mistakes a business owner can make is being convinced that their business plan is sound, and they cannot possibly fail. Statistics say they are wrong in that assumption. Saving for a rainy day is more than an old saying; it is a lifeline for when times are tough.
A final word about RDS Real Estate.
Box Office Warehouse Suites is locally owned and operated by RDS Real Estate, and we’ve got you covered in the Greater Fort Worth Metro area with over three million square feet of industrial space and commercial property for lease. Call us no matter what it is you need i.e. Warehouse for rent, shop for rent, garage for rent, office warehouse for rent, retail space to rent, we’ve got it all.
