Finding the Best Location for your Small Business – Small Business Show 147

Location, location, location. You’ve heard it before – but there’s much more to picking the right spot for your Small Business than just the location. Join Dave Hamilton and Shannon Jean on this episode of the Small Business Show to hear their experiences and tips for choosing the right place. Listen and and hear about Retail, Office, Industrial and Flex spaces – what’s the difference and what to watch out for when considering moving your Small Business into one type of property or another. We discuss hidden costs, competition, being sure you get just the right amount of square footage and much more. It’s then time to learn about leases! The lease is the critical part of any rental contract and can save you, or bury you – depending on what’s in it. Learn about Gross vs. NNN leases, zoning issues, CAM, tenant improvements and more. We wrap up the show by discussing the benefits of owning vs. leasing a space along with a quick survey of other leasing issues you should be aware of. Join us today and then visit the Small Business Support Group to share your story or ask specific questions about where to locate your Small Business. Chapters/Timestamps: 00:00:00 Small Business Show #147 for Wednesday, November 29, 2017 00:01:16 Hacking badge codes! 00:02:53 Your Location 00:04:15 Retail Space 00:06:53 Foot traffic 00:08:53 Semi-retail Office Space 00:11:14 Competitive exclusion 00:12:06 Extra costs/Signage costs 00:13:58 SPONSOR: Storyblocks.com/sbs gets you their Triple Bundle for just $149 00:16:34 How much space do you really need? 00:18:30 Industrial Space 00:19:37 Build your own building 00:19:54 Zoning 00:20:30 Dealing with authorities 00:22:34 Be aware of the impact of your growth 00:24:08 Own or lease – Why not both? 00:25:54 Combo Space – Industrial/Retail/Signage Flex space 00:28:53 Signing a lease Gross Lease vs. Triple Net Lease 00:33:08 Learn what’s inside the “Common Area Maintenance” or CAM fees 00:34:45 Extra expenses Rent increases Utilities Insurance Lease cancellation Sublet Improvements Learn more about location and leases: Finding a location: https://www.entrepreneur.com/article/73784 https://www.business.gov.au/info/plan-and-start/start-your-business/choose-a-location Negotiating a lease: https://www.legalzoom.com/articles/5-tips-for-negotiating-a-commercial-lease https://www.thebalance.com/how-to-negotiate-commercial-leases-that-favor-tenants-3515429 00:37:09 SBS 147 Outtro The post Finding the Best Location for your Small Business – Small Business Show 147 appeared first on Business Brain - The Entrepreneurs' Podcast.