Selecting an appropriate industrial space for rent demands a lot of time and effort. Space isn’t just a piece of land; it defines your growth and how you’ll attract clients. A new startup gets a lot of benefits just by choosing the right location. It enables them to land potential clients, attract the target audience, and speed up growth patterns. A bad location can result in operational delays, expensive rent, and less revenue. So, it’s essential to consider all the potential risk factors and benefits before renting industrial space.
In this blog, we will discuss how industrial rental space affects your business growth. Moreover, what are the factors that you should consider when renting a location?
1. Accessibility for Transportation
The most important thing to consider while selecting your industrial space is transportation access. You should select an appropriate location according to your business needs. Businesses benefit a lot near a hub station, major roads, highways, rail lines, and airports. These locations provide you with a chance to attract a diverse audience. If you need fast delivery, then your location must be near major roadways and shipping airports.
If your suppliers are located outside the city, you should find a space near major transportation routes. It helps to avoid shipping problems and higher labor costs. Cross-check the traffic conditions near your industrial space before signing a rental agreement. High traffic jams throughout the day lead to difficulties for the workers who need to commute.
2. Proximity to Suppliers and Customers
You should select a location near your suppliers and customers. It helps you get raw materials quickly at an affordable price. When you are located close to your customers, you can offer fast delivery without shipping charges. It’s a positive point that helps attract more potential clients.
A long distance between your industrial space and buyers leads to delayed deliveries and higher shipping costs. People want to get their product within one or two days after ordering. These delays and repeated troubles can affect your business revenue. So, you should identify your supply chain before choosing an industrial space for rent.
3. Availability of Skilled Labor
Your business depends on people. So, it requires a strong workforce to operate. Without skilled labor, your business operations will slow down. You should choose a location that provides easy access to professional workers.
If you require a machine operator engineer and a warehouse management team to carry out your business operations. Then, select a rental space where you can find professionals with this expertise. Research local employment trends. Areas with good training centers or technical colleges often have a strong labor team.
4. Infrastructure and Utilities
Industrial operations often need strong infrastructure. Inspect utilities such as power supply, water access, internet availability, and proper waste management systems before selecting your industrial space for rent. Make sure to ask the owner if the rent includes all the bills or if you have to pay them separately.
High-quality infrastructure saves a lot of money, and you can invest that in your startup. Whereas, poor infrastructure structures lead to breakdowns and high repair expenses. So, regularly inspect your industrial space to avoid any future problems. Check the WiFi, traffic patterns, and quality of road surfaces when evaluating the location.
5. Cost of Renting and Operating
Location affects your costs, too. Offices situated near urban areas normally charge high rental fees. However, you should consider it as an investment. It might prove advantageous in the long run because of lower transportation and labor costs.
You should include all the expenses of transportation, labor availability, taxes, and maintenance while calculating monthly rental payments. Additionally, you have to work with a commercial real estate specialist to understand the hidden costs of the region.
6. Safety and Security
Safety and security should be your priority. Rent industrial space in a safe area to protect your employees and products. You are less likely to suffer in low-crime areas. Industrial spaces have expensive and heavy machinery, so there should be emergency exits, quick ambulance access, and a proper security system. Visit the location at different times of the day to get a real sense of the area’s safety.
Final Thoughts
Selecting the appropriate rental space is more than just finding a building. It’s about finding a location that fits your operations, your team, and your plans. Your business success depends on how well you evaluate transportation, labor availability, safety, infrastructure, and costs. Don’t rush the process. You should dedicate time to searching for a space that guarantees business growth.
At 25 Van Zant St, we offer commercial spaces for rent throughout Connecticut. You can find customized, personalized, and ideal industrial spaces with lease agreements on our site. Moreover, our building has various building and area amenities. Contact 25 Van Zant St to rent industrial space at an affordable price.
