Whether you are building a new building for your business, buying or even leasing a new building, there are a number of factors to consider. Location is, of course, the primary factor that most business owners consider, but there are also some factors about the building itself that you need to consider carefully before building, buying or leasing. Here are 3 building risks you can avoid with careful planning.
While flooding can be a potential problem with any building or structure, it is particularly problematic for businesses that depend on the structure for their livelihood. When your home floods, it is inconvenient and can cost you money, but it doesn’t generally affect your income unless you have a home office. When a business floods, however, it can potentially cost you thousands to hundreds of thousands of dollars in lost income. Therefore, it’s important to ensure that if you are building a building, proper trench and drainage systems are installed. Keeping your doors open is worth paying a little extra for an ACO trench drain system, for example, instead of the cheapest option. In addition, if you are buying or leasing a building, you also want to ensure adequate protections against flooding are in place or make sure they are installed prior to moving in or signing a lease.
Before buying a home, most home buyers will have a thorough inspection done. Business owners, however, often fail to have this critical service performed before moving into a building. Ensuring the building you move into has a proper, solid foundation is critical to all businesses, but particularly for businesses that use any type of heavy machinery. An improperly poured foundation can crack, shift or even collapse an entire building. Before moving into a building, always have a thorough inspection done to ensure (among other things) that the foundation is rock-solid and secure.
In the digital age, very few businesses operate without a great deal of electronics. Those electronics can suck a lot of juice, so you want to be sure the existing electrical system can support the load or that an appropriate system is installed. If you are building a building, you probably want to be sure that the electrical system that is installed exceeds your current needs.
Of course finding a great location for your business is important. An important part of finding a great location, however, means ensuring the building you are moving into is structurally sound and has adequate resources to meet your requirements. Doing some thorough investigating before moving in will help ensure that your business continues to function smoothly without catastrophe.