If I rent my space/building, how long of a lease should I sign?

In the beginning phases of business, you need to think about being nimble, rather than focusing on building equity in a building. With that in mind, look for a space that gives you flexibility.

So often business owners let their space constrain the business, which can hinder long term growth. Don’t do that! Get creative in your search for space. Don’t be afraid to take a ‘right now’ space for a short period of time so you can eventually get the right space as the business matures. – Yes, moving is painful and can be costly – But this process may pay off, as you should move into a more efficient space with every move.  

One thing to keep in mind – don’t buy in the early stage of your business. The only time you should consider buying a space is if you have a heavy inventory-based business that requires specific requirements (things like climate control, outdoor storage, truck bays, power requirements, etc.).

In most market environments you can find a functional space to meet your needs through leasing.

There isn’t a one-size fits all solution when it comes to your problems as an entrepreneur. Enter your email address below so a Gerber team member can make sure you’re getting the appropriate information for your situation. 

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Gerber, LLC is not a registered broker/dealer, and is independent of Raymond James Financial Services. Securities are offered through Raymond James Financial Services, Inc. Member FINRA/SIPC.
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