Finding a shop for rent, for your business location, is not the first step in this location process. The first step is in determining what kind of shop you need, and what you can afford to pay for a shop for rent. We will walk you through the process in this article. We are RDS Real Estate, serving the Greater Fort Worth area with outstanding, and affordable, commercial property for rent and industrial space for rent. Call us at 817-439-3224 for more information.
Determining your size needs in a shop for rent.
When planning to rent shop, one of the most important decisions you’ll make is determining what size it should be. Start by assessing your needs. What kind of business do you want to run? Will you need a large showroom or storage space? Do you plan on expanding in the future? Take into consideration the type of products or services you’ll be offering and the number of employees you’ll have.
It’s better to plan for extra space now rather than having to move or expand in a few years. However, keep in mind that building a larger shop means a higher cost in terms of construction, utilities, and maintenance. Therefore, it’s important to strike a balance between the size of the shop and the budget you have set.
You will need to consider any inventory storage space you will need? How about equipment space? How many customers will you see at any given time? What are your customers doing with regards to space? And are you surrounded in the location by compatible businesses?
The tendency, especially if cost is a major factor, will be to shortchange yourself, to convince yourself that you really don’t need x amount of space for inventory, that you can get away using less. This may be a huge mistake. Give yourself some realistic approximations to work with; worry about budget once you know what you really need.
What is your budget?
Now, we can talk budget. The cost of that shop for rent will be determined by location and the laws of supply and demand. If you are in a somewhat depressed area, with multiple available shops for rent, you may very well find a great deal. If, however, the location you desire has very few properties available, plan on paying a premium price for whatever you find.
The price will be determined by the square footage, primarily; in other words, the bigger the property, the more expensive that industrial property for rent will be. But there are other expenses, overhead expenses, to consider. What will the utilities cost you? What will Wi-Fi cost you? How about signage and furnishings? Insurance?
Add it all together and you should have a ballpark figure to consider. And, if that ballpark figure is too high for your budget, you may need to consider an alternative option.
You may have to look at non-traditional options.
Rather than listing all the alternative options available to you, we will present here one such alternative, and hopefully that alternative will get you to thinking outside of the box at other options you might consider.
In North Fort Worth, the Alliance Area to be exact, you will find the Fort Worth Design District, and in that District, you will find Box Office Warehouse Suites, a business park made entirely from recycled shipping containers. Because the construction costs were so low, those savings were passed on to those renting units, making those units some of the most affordable commercial and industrial properties in all of Tarrant County.
Would something like that work for you? If it were in a great location? If it passed the eye-appeal test? Many small business owners in Fort Worth answered that question with a resounding YES and now call Box Office Warehouse Suites their home away from home. Perhaps, in your city, there is something similar to consider?
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated, offering over three million square feet of outstanding industrial properties for lease. Call us today, tell us what you need, and then turn us loose to do what we do better than any other real estate broker in Fort Worth.