Buying/Renting Premises For Own Business – Help Please

[Spoff]

Very, very early and tentative days of exploring the possibility of setting up my own business.

I have found a potential location that would suit and will later be speaking to the owners about a warehouse.

Other than the basic how much per square foot to rent, what facilities eg car parking, toilets, gas/leccy supply there are what do I need to be asking?

 

[Twire]

Rates, Electricty supply 3phase/single phase, maintenance, hours of business (I'm not supposed to work in my unit after 6pm), Security, length of lease...

 

[Spoff]

Cheers twire, what's '3phase/single phase'

Good call on the hours of business.

 

[Twire]

Cheers twire, what's '3phase/single phase'

It's how the supply comes in, 3 phase 410/420 volt or single phase 240 volt. If you need to charge up fork lifts, or have heavy machinery, you might need a 3 phase supply. It's something to think about.

 

[PaulE]

Whatever you do, read the lease contract thoroughly.
Probably wise to get it checked out by a solicitor who knows about this sort of thing.
I looked at a unit last year for a small business and the solicitor found 76 items in the contract which he didn't like.

 

[bobmac]

BT/broadband line?

 

[Aztecs27]

BT/broadband line?

Probably the most important, so you can make sure you can get access to this place whilst at work!

 

[Spoff]

Thanks all, good stuff so far.

Going to be for a kids soft play centre if it comes off, so heavy machinary and the like shouldn't be an issue.

 

[Oddsocks]

What type of premises is it.

 

[Spoff]

Not built yet, it's on an estate that has a number of buildings, some offices, think there is one factory, a kids nursery, Burger King and a pub chain.

Ideally a big warehouse, play area, seperate room for parties and kitchen and facilities.

Not really sure how big it needs to be yet, early days.

Soft play area I've seen is 40,000sq ft, enquiring about a 70,000 sq ft place and see what the cost is.

 

[Driven2Distraction]

.... locations of drains, water supply, fire escapes etc -
building regs for provision of toilet/changing facilities for public & staff....
local licensing laws if you're thinking about cafe facilities for mums & dads.......
(oh - and your 3 phase issues could well be likely to make a return depending on how you fit out your "commercial" kitchen)

good luck!!!

 

[AuburnWarrior]

Thanks all, good stuff so far.

Going to be for a kids soft play centre if it comes off, so heavy machinary and the like shouldn't be an issue.

Soft play - I reckon the premises will be the least of your worries. A friend of mine looked into this and he got overwhelmed by the Health and Safety directives and the numerous insurance policies that are required before you can even open. Apparently, he said, you run at a massive loss for ages as a result of the start up costs.

If you've got the capital though, you'll be quids in quickly.

 

[viscount17]

local crime, probably not the website but a word with the local nick,

 

[Spoff]

Thanks all, good stuff so far.

Going to be for a kids soft play centre if it comes off, so heavy machinary and the like shouldn't be an issue.

Soft play - I reckon the premises will be the least of your worries. A friend of mine looked into this and he got overwhelmed by the Health and Safety directives and the numerous insurance policies that are required before you can even open. Apparently, he said, you run at a massive loss for ages as a result of the start up costs.

If you've got the capital though, you'll be quids in quickly.

Yeah, well aware H&S will be huge, and that's not something I know about yet.

First choice location now ruled out, have found a disused pub that would need a lot of renovation, and isn't in as good an area so good call on the local crime, too.

 

[HRC99]

You'll need to check the permitted usage on potential properties. You will also definitely need a solicitor.

I've dealt with a good many commercial leases and they are not quick, easy or cheap to sort out.

For working with children, there will be requirements to carry out checks including Criminal Records on employees including yourself.

 

[Lawrence22]

I would always be looking for an early break clause written into any lease, that way you can get out if things don't work out.

 

[Golfmmad]

Don't want to sound negative Spoff, but remember, as well as the above good advice and certain pitfalls, the Tax-man will be waiting to swallow up lots of your money.

I'd say to anyone with the drive to set up business on their own, the very best of luck and hope it works for you.

Golfmmad.