Ray is the owner of a large corporation with his operation spanning over two locations.  When he outgrew his initial office, he got a great deal on a warehouse that was easily adaptable to expand his business.  Now, after years of hard work and smart decisions, he’s outgrowing both locations and has decided that it will be more efficient for his operation to all be under one roof.  But speculating on the costs involved, Ray is wondering if this is the best decision for his company right now?  What Ray may not be considering is economies of scale.  With his building being bigger, the duration of the project longer, and the fixed fees being the same, he can benefit from the efficiencies that his Design-Builder will experience, which will lower the square footage cost.

In the modern world, Economic Development Agencies (EDAs) are playing a critical role in helping cities, states, and even countries reach their economic potential. Economic growth is what makes communities thrive by expanding a tax base and offering a quality of life for residents through employment, commerce, infrastructure, and entertainment. Business owners can benefit from EDA services and incentives to expand or start their business. The EDAs work with private funds, local foundations, schools, and government to name a few to match incentives that will keep or bring economic growth to their region.

A critical element of your business plan is a realistic budget for anticipated expenses, along with possible revenue streams. One of the biggest expenses of a business to factor into the budget is the building cost.

Office Remodel (Part II)

As a business owner or manager, you want to make your working space comfortable, attractive and efficient for your work force.  Currently popular in office settings is open daylighting, LED lamps, replaceable carpet squares and work stations with standing options.   If you don’t own your building, you may feel restricted to make these changes until your ownership status changes, but it’s more likely that your landlord will be willing to work with you to make updates and keep you as a tenant.

Have you considered commercial investment properties to add to your portfolio?  On a surface level, it seems like a long-term, but easy investment that will generate ongoing income and also potentially appreciate in value the longer you own it.  For those who have capital to invest, is it the right type of investment for you?

Once you’ve already determined the approximate size of the space you need, your budget, general location desired, and that the investment will fit within your business objectives, it’s time to start shopping for suitable building for your company changes.

Light Commercial Buildings include (but aren’t limited to) medical practices, dental practices, office buildings, restaurants, banks, auto dealerships, and generally any building that is 25,000 s.f. or less and used for commercial business.