Being an business owner and CRE owner is not an easy task today; in addition to your core business, you have to deal with your RE, take care of the costs, maintain the facility, make sure that your business space does not become too small …
5 questions that you need to ask yourself as an OWNER
Location – is your business premise in the right location?
Location, location, location … The word that you heard and read many, many times… But did you set it as a question? Are we in the right location, are competitors overtaking us, because their business premises are in a better location, more accessible to customers … Is access to our business premises appropriate? Can the customers find us?
Real Estate – does your Real Estate have proper legal status in land register?
Proper legal status of your property is the basis for the regulation of property rights in real estate land register. Make sure your property is your ally, not your enemy.
Value of RE – is value of your RE comparable to market prices, are you paying excessive costs?
When was the last time you ask your self whether the book value of a real estate you own is comparable to a market condition? Do you monitor changes in the property market? Do you know what real estate costs your direct competitor has?
Comparing (bechmarking) of value your RE and related costs with your competition and actively dealing with costs can be your advantage in the battle on the market.
Business premise – Is your business premises still fit for purpose?
Have you modified your core business lately? Have you added new activities? Are the offices in which you are stationed cramped and are no longer suitable for you? Perhaps you have empty offices?Paragraph
Business premises optimization is also a key factor in successful business operations. As adopting company and its business to new challenges, it is necessary to adapt the business premises – new offices, different, more appropriate job allocations, changed production line… All mentioned measures contributes to the success of the company.
Knowledge – Do I know what kind of premises I need, do I know where I need it, do I know what the prices are?
You are an expert – in your field. Customers visit you to get advice from you because they cannot find answers by them selves.
When dealing with Real Estate think the same way. Do I have enough knowledge to find and prepare a suitable real estate for my business? Will I be in line with my interlocutors – experts in the field of real estate management?
to be continued…