When small businesses grow from an idea to a brick-and-mortar institution, owners face the dilemma of leasing a commercial space. Though your business may thrive in a new location, navigating the real estate market as a small business owner can be daunting. Between identifying your business needs, finding your target market, and negotiating a fair lease (all while running a business), it’s easy to be overwhelmed. Yet by hiring professional guidance and breaking down your search into simple steps, your business can find the perfect property and reach new heights.
Falls Church, VA, organizations and individuals seeking to relocate their small businesses can rely on The Genau Group. Our local realty team prides itself on finding high-quality workspaces that meet your budgetary requirements and unique specifications. Moreover, our broad network includes agents, architects, legal licensees, and more who can guide you to your desired results. Upgrade your small business space today by calling (202) 735-5382.
Below, we discuss how to lease a commercial space as a small business:
Define Your Needs
To begin the search for a commercial space, small businesses must assess their unique needs. For example, retail stores require high visibility, good foot traffic, and nearby parking availability. Alternatively, traditional offices focus on proximity to professional services, conference rooms, and a floor plan made for individual workspaces.
Furthermore, calculate your business’ ideal square footage by considering current and future needs. Start by measuring existing space and tallying employee numbers, equipment, and storage requirements. Then, estimate your growth in these areas over the next 3-5 years. Using your current measurements, projected expansion, and rent budget, your commercial real estate agent can find an affordable site that can accommodate your growth.
Locate Your Target Market
The location of your small business is arguably one of the most crucial decisions business owners make. No matter the industry, location directly impacts your ability to attract customers, recruit talent, and operate efficiently. Therefore, thoroughly researching an area that aligns with your stakeholders’ needs and long-term goals is paramount for a strong business foundation.
Local competitors provide precise insights into your location hunt. Research nearby businesses and storefront neighbors to analyze their offerings. Identify any potential synergies or areas where your business would stand out. For example, placing a restaurant next to a local attraction can foster a symbiotic relationship that attracts more customers to both companies.
Understanding Lease Agreements
A small business’ success at a new location also hinges on the terms outlined in the commercial real estate lease agreement. Though a building may have all the amenities on your wishlist, the fine print may reveal unpleasant surprises, such as lease duration, renewal options, rent increases, and maintenance responsibilities. To make an informed financial decision, business owners and their representatives must carefully read the lease and understand the terms and conditions before signing.
Seek Professional Help
Leasing commercial real estate as a small business is no small investment. Hiring an experienced commercial broker, such as The Genau Group, can be invaluable when searching for the perfect location. Beyond expertise, brokers leverage their local market knowledge to identify suitable properties— many which are unknown outside of professional circles.
Moreover, The Genau Group brokers handle negotiations with landlords and property owners to secure the best possible terms. Our professional guidance saves you time, energy, and money on your property agreement.
Lease a Commercial Space in Falls Church, VA, with The Genau Group!
Through professional guidance, lease negotiations, and market research, The Genau Group helps your Falls Church, VA, small business find a new home. Through every step of leasing a commercial space, our team advocates for your best interests and the prosperity of your business. To learn more about our dedicated brokers or find your next commercial investment, call (202) 735-5382 today.
