Wednesday, January 2, 2013
Growing Your Business: Is It Better To Buy Or Lease Your Next Commercial Property?
By Chris A. Harmen
Expert Author Chris A. Harmen
Growing a business can prove an exciting endeavor for any entrepreneur. Beyond watching your client base increase, there are a multitude of other benefits and considerations that come into play to ensure that your company successfully expands its operations. What's one major factor that entrepreneurs in every industry must consider when growing their corporate empire from startup to dominating market force? Whether to purchase their company property outright or consider commercial real estate for lease as their next professional move.
Buying Property Or Considering Commercial Real Estate For Lease
If you're currently strategizing moving your start up business out of your home office and into the worldwide realm of corporate real estate, it's imperative to carefully weigh your options for leasing or purchasing the property. While buying a building may seem like an ideal option initially, many business owners find that renting a space makes better financial sense, at least for their first move. If you're ready to move out of the spare bedroom and into a bigger space to accommodate your growing business, choosing commercial real estate for lease may make sense if:
You're still building your brand image: Yes, watching your bottom line grow is an exciting corporate enterprise; however, unless your have a universally (or at least regionally) recognized commercial brand, you may want to hold off on purchasing a space for your organization. Choosing commercial real estate for lease can help you systematically strengthen and broaden the exposure of your corporate brand for long-term, sustainable success without the commitment that comes with buying a property.
You're not ready for extra responsibility: It's no secret that running and growing a business requires entrepreneurs to wear many functional hats. For many business owners, running their company proves more than a full-time job; purchasing a commercial property adds an extra layer of responsibility to an already full plate. As a building owner, you won't have the luxury of contacting your landlord if a problem arises -- you ARE the landlord. Every repair, every update, etc. will have to not only be managed by you... but it will also have to come directly out of your budget.
You're still growing: Finally, not knowing exactly how much your company will expand in the next few years can be a major reason to consider commercial real estate for lease over purchasing a space. Buying a property only to find that, five years later, you've outgrown the facility can be a major purchasing mistake that can wreak havoc on your corporate bottom line. Opting instead for a short-term rental on your company space gives you the freedom and flexibility you'll need to accommodate your organization as it grows.
What's the best way to determine if you're a candidate to rent or purchase a space? Partner with a reputable firm that specializes in leasing corporate properties. A professional team of experts will have the experience and industry insight needed to help you make a sound final decision that best supports your company both near and long-term.
DynaCom provides a wide range of Naperville commercial real estate for lease to suit the corporate needs of every business. No matter what industry you're operating in, DynaCom can help you find the ideal commercial location to call home. Want to hear more? Visit http://www.dynacomcenter.com/ to see a full outline of listings.
Article Source: http://EzineArticles.com/?expert=Chris_A._Harmen