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 Grou p 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

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