Build or rent – Which is the best choice for your business?

When it comes to business premises, there are many factors to consider whether renting is the better option or building your own premises will see you plant firm foundations for your business. What are these factors?

You have probably thought of your business premises in turns of renting or buying a property. But have youconsidered the possibility of designing and building your own premises?

The benefits of doing this are enormous, meeting all the factors that you will consider when you choosing your business, as highlighted in MTX Contracts’ infographic, from location to running costs.

Pros and cons of renting and building

There are, ofcourse, the see-saw of pros and cons to consider when either renting or building your business premises. When a company or organisation rents a property, they have fewer responsibilities than if they owned it. When you rent businesspremises, the landlord will be responsible for many things, meaning you won’t be.

But then when you build your own space, it becomes a business asset, something that over the coming years will increase in value. There is a flexibility when you create your own space too.

If you want to move your company, however, renting means you don’t have to wait to sell – you give notice as per contract and find new work premises.

Have you considered modularbuilding?

The issue with many workspacesis the lack of scalability. As your business ebbs and flows, changes and morphs, you need a physical space that can, to a certain extent, expand and contract as you do.

As a business, you don’t want to fit your business to premises, but rather wrap the physical space around work activities.

Modular building is the way forward. The benefits are enormous, from lower costs to sustainability and excellent energy efficiency. The structure is strong and robust and so much easier and more affordable to modify when you need a change in the building.

Of course, there are some downsides to building and managing your own work premises, which are explored fully in the infographic, such as variable overheads.

Is building your own premises really possible?

You may think that building your own business premises is something that ‘everyone else does’ but with clever investment and design, you could create not only an amazing working environment but also create an asset for your business that sees it grow with your business.

Building your own work premises is possible – why not take a closer look?