Business premises are the buildings or structures where businesses conduct their operations. For many businesses, their premises are a significant asset and source of income. This is where they produce or sell their products and services, store inventory, and see customers or clients.
As such, it’s vital to manage your business premises carefully. Unfortunately, many businesses make avoidable mistakes when managing their business premises. Here are four mistakes to steer clear of to avoid problems down the road.
1. Not Having a Clear Plan for the Space
Many businesses don’t have a clear plan for how they will use their premises. They might wing it and see how things work out. Doing so can lead to problems down the road, such as not having enough space for your needs or not using the space efficiently.
Having a clear plan for your business premises means taking the time to think about how you will use the space. Asking the right questions like the following will help you develop a clear plan:
- What activities will take place in the space?
- How many people will need to be accommodated?
- What type of layout do you need?
- What type of furniture and fixtures will you need?
For example, you run a retail business. You’ll need a sales floor, storage space for inventory, and a back office for administrative tasks. Once you know how to use the space, you can develop a layout that meets your needs and find a suitable location for your business.
2. Taking Security for Granted
Some businesses take security for granted. Just because your brand siness might be new or is too small, criminals will already pass on the opportunity to make your brand their next target. However, all businesses, regardless of size or industry, are at risk of crime.
According to reports, commercial robbers stole up to $68.9 billion of products from retailers in 2019 alone. Things are only getting worse as the COVID-19 pandemic continues. With more people out of work and struggling to make ends meet, crime is on the rise.
Be sure to take security seriously and do everything you can to protect your premises. This includes investing in a professional alarm security monitoring service you can trust. This way, you can have peace of mind knowing you have a reliable security system monitored by licensed staff and professionals.
An alarm security monitoring service is a type of security system that uses sensors to detect intruders and then alerts the monitoring center. The monitoring center will then contact the police or other emergency services to respond to the scene. Making the right investment can help protect your premises from crime and keep your business safe.
3. Not Thinking About the Future
When managing their premises, many businesses fail to think about the future. You might be happy with your current space and believe it will suffice for the foreseeable future. However, your business can change and grow over time.
What works today might not work tomorrow. Think about the future when managing your premises. The last thing you want is to move to another location just because your business has outgrown its space.
Consider things like your long-term goals and expansion plans. For example, you’ll need more space if you plan on growing your team or expanding your product line. This will make it easier for you to find a suitable location for your business to accommodate your future needs.
4. Failing to Maintain the Property
Another mistake businesses make is failing to maintain their property. Just like your home, your business premises need regular maintenance and upkeep. This includes fixing damaged fixtures, painting the walls, and cleaning the floors.
Failing to maintain your business premises can lead to several problems. For one, it can make your premises look unprofessional and discourage customers from doing business with you. It can also lead to more serious issues like water damage, mold growth, and infestation, resulting in higher maintenance costs and repairs.
To avoid these problems, develop a maintenance schedule for your property. This way, you can ensure your premises are always in good condition and that you deal with any issue on time. Also, consider hiring the pros for maintenance and repairs to avoid further issues.
Let’s say your retail business is in an old storefront. The paint is chipping, the floors are scuffed, and the fixtures are outdated. Hiring a professional commercial painter to repaint the storefront can give your business a fresh new look that will attract customers.
By avoiding these four common mistakes, you can help ensure your business runs smoothly and stays on track for success. You won’t have to worry about things like security, growth, or maintenance down the line. So, take the time to plan ahead and make the right decisions for your business today.