Whether you are a new business or an established business looking to expand, attempting to find a warehouse for rent can be incredibly difficult, particularly in Broward, Florida. Most business owners would prefer to purchase and own their building, however, in some cases, there might not be enough capital to do so.
If you are looking to acquire a work warehouse space, continue reading this article. We will explain why renting may be the best solution for you and how you should go about finding appropriate spaces.
Firstly, the location serves to be the most important asset when finding a place, whether residential or for business purposes. You have often heard “location, location, location” as the most important aspect to consider when purchasing a residential property. Well, renting or purchasing a commercial property is no different.
If you are renting a workhouse for work, you have to consider the concept of customers and clients finding their way to your place of business. If your warehouse is difficult to find, you will start to lose business. Time is valuable and nobody wants to spend time searching. Ensure your warehouse is visible or the area contains the proper signage to direct clients and customers to the building.
While renting a warehouse is far more cost-effective than owning one’s own space, the costs are still relatively high. Just like leasing an apartment, a fee is required every month. Unlike apartment rental, workspace rental is per square foot. Therefore, depending on the size of the establishment, the rate which you could pay will differ.
Similarly, apartments and workspaces are alike in their terms of the lease. In most cases, you as the renter, have a limited time to use the space. At the end of your agreement, you have the ability to continue utilizing the space or moving on to a new destination. Most business owners tend to stay as the cost of moving to a new location is expensive, but also because their business could be affected. If a popular business were to move in the middle of a period of growth, the influenced that was generated could disappear.
As specified earlier, the location is very important. Location can also affect the price of the space. If your prospective building exists in an affluent area, you could be expected to pay more compared to other areas. The inherent issue here is that as your business develops and becomes well-known, you may not be able to move to a different location; find a location where you could see your business developing for the foreseeable future.
As a warehouse for work/business purposes, you will be conducting business in the space. As employees will work within the premises, you should also consider the operating expenses associated with working in a warehouse. Consider the amount of power used to conduct the tasks that will take place within your establishment. Using equipment and machinery is expensive, yet in some cases, extremely necessary. Often times, business owners fail to consider how much electricity is required to power their machinery, and how that could affect their overall costs. Consider how much money will be attributed to operating and conducting business in the premise. For some places, these costs may not be included. Therefore, in addition to the cost of renting the space, you will have to pay for power and water. Ensure all costs associated with working here fit within your budget.
After finding the perfect location, accessible and visible from the road, consider the size of your prospective warehouse. Is the building large enough to conduct the business you intend to take place there? If not, consider another option. Warehouses are considerably large buildings commandeering a large proportion of the surrounding land. This might be another aspect to consider, especially as you’ll be paying for the square footage of the space.
Once the business develops or once employees migrate from the old building to the new one, you will need to have the capabilities to house their vehicles. Parking spots are a valuable commodity. The ability to safely park one’s vehicle close to the building and then retrieve it after their shift is over is an asset most employees expect from their jobs. Parking is also a factor that distinctly differentiates the professional from the amateur business owner. Your employees will thank you for it.
If you have aspirations of expanding your warehouse space, it might serve you to investigate the zoning laws in your area. While as a renter, you may not have the ability to expand your space, as a visionary, it may serve you well to consider this option later down the road.
So, how do you find warehouses for rent in Broward?
In the same way homeowners search for potential homes, as a business owner, you can also search for workspaces.
In some cases, with the help of a realtor, you can find a number of properties in your immediate area or proposed location available for you to use. Hiring a realtor is a relatively easy task these days. By using the internet, you can find a number of local realtors in your area.
If you are looking for a place to start, try using Berger Commercial. As an independent commercial real estate firm Berger Commercial has a large variety of warehouses available. Alongside images of your potential space, Berger Commercial includes the important specifications you need to know including the location, price and square footage. Beside each listing, you will find the realtors in charge of each property and their contact information.
Businesses rise and fall every day. Trying to sell a workspace is an added stressor to the already stressful experience of moving your business or potential closures. Therefore, finding something temporary might serve you better in the long run. Broward is not the most industrial area, but there are lots of great spaces currently available. Considering the money you could save by choosing to rent your workspace, it’s a wonder why so few business owners choose to do it.