If you're moving to Burlington, you could either start looking for a job that will help you pay off your mortgage or you can consider opening your own business. If you've had previous experience with looking for work, perhaps from conducting an Ottawa job search, then you know the pickings are slim out there right now. Combine that fact with the appeal of being your own boss, and there's hardly a contest now is there? Here are some things to think about when searching for the right space to open your business.
Land Use
If you've never opened a business before, you may be unaware that searching for commercial properties in Ontario is quite different than searching for residential properties. Any property you consider must be properly zoned for the type of commercial activity you plan on doing. You must also take careful note of the features each building or space has, and make sure you'll have what you need to run your business. A loading door, for instance, or enough storage space.
Location
You probably remember your Oshawa realtor telling you that location is everything when you were looking for your house. The same is true for a commercial property. Your business and the neighborhood it is located in go hand in hand. You wouldn't want to open an upscale eatery in an industrial warehousing district, for example, because your clients may not feel comfortable coming into the area.
Budget
It's especially important that you do things as cheaply as you can when you first open a business, because this is the time when costs will be highest and revenues the lowest. It's great to leave room for success, but don't bank on it right away to meet your obligations. Begin modestly and you may never need to go back to the bank for refinancing. Toronto is an expensive place to do anything at all, let alone open a business, so make sure you're not choosing a place beyond your means just because you like it.
Realtor
Matching business clients up with commercial properties is not the same thing as matching private clients up with residential properties, so the realtor you hired to help you find your place at Bay Street Condos cannot help you with your business. You need a specialized commercial realtor. If you don't know of any, ask a residential realtor you know to see if they can recommend someone.
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