Choosing the right business location

Advantages

• There is often a variety of sizes and different locations to choose from.
• There are options for leasing part or all of a building depending on your business needs.
• Often the warehouse district is close to freight and transport routes.
• It may be located with other similar businesses that provide complementary services (e.g. equipment servicing and trades).

Disadvantages

• It may be located away from central business districts.
• It can be expensive to fit out.
• Often it can come with high up-front and maintenance costs.
• It may require investment in security systems and services.

Example businesses that might suit a warehouse

A warehouse might suit:

• suppliers needing access to freight routes (e.g. major roads, wharves, airports)
• manufacturers needing a lot of space for equipment and products
• businesses that make noise.

Read about buying or leasing industrial land.

Advantages

• Enables global access to customers 24 hours a day.
• Removes costs of leasing or purchasing premises.
• Gives you greater flexibility.
• Can operate from anywhere with a good internet connection.

Disadvantages

• You need a consistent and reliable internet connection.
• It may come with risks associated with security and privacy.
• You will need a high level of knowledge and skill to operate it.

Example businesses that may suit an online business

Online businesses are suitable for a wide range of businesses, including:

• information technology
• retail
• customer support.

Advantages

• It can be cheaper than other premise options.
• It is more convenient.
• It gives you greater flexibility.
• Time will be saved on commuting.
• Your overheads are lower.
• You could have some tax advantages.
• It is easy to set up.

Disadvantages

• Space and size may be limited.
• It can cause disruptions to family or other household members.
• The location may not suit clients, suppliers or couriers.
• Noise, signage, light and smell can affect neighbours.
• It may negatively affect work-life balance with easy accessibility leading to long working hours.
• There may be a lack of parking or privacy.
• You may need specific council permits (e.g. for signage).
• The sale of the home property could attract capital gains tax.

Example businesses that may suit a home office

A home office may suit:

• small manufacturers
• artisans
• consultants
• online retailers
• freelance contractors.

Read about starting a home business.

Advantages

• It can come with longer leases.
• There are varied locations including those close to central business districts.
• You can have many choices of premises of different sizes and locations.

Disadvantages

• It may not support an expanding business.
• It can come with high fit-out costs.
• Building maintenance fees can be expensive.

Example businesses that might suit an office or retail premise

Office or retail premises may suit:

• professional services intending to stay for a long time and are unlikely to expand
• small retail shop unlikely to expand
• businesses requiring easy access for car and foot traffic
• business owners who cannot work from home and require a professional office space.

Read more about:

• business premises leases
• retail shop leases.

Advantages

• Short-term contracts are available.
• Different office sizes are available to suit different business needs.
• You can work from various locations with many providers across Queensland and globally.

Disadvantages

• The facilities are shared.
• It can be expensive.
• There is a lack of privacy and stability for clients.

Example businesses that might suit a serviced office

Businesses that might suit a serviced office include:

• those requiring a head office in a central business district with other operational sites in cheaper locations
• professional services intending to stay short term
• early-stage businesses intending to lease short-term office solutions as they grow their business
• sole traders requiring occasional office space for client meetings.

Advantages

• It's a low-cost solution for business premises.
• There is no need for long-term contracts or leasing.
• There is access to collaboration and advice from other workers.
• You have increased information sharing.
• You have access to prototyping equipment.

Disadvantages

• There is no privacy.
• It's often short-term leasing only.
• There is a lack of stability.

Example businesses that might suit a co-working space

Businesses that might suit co-working space include:

• innovative teams working collaboratively on a project
• sole traders wishing to share information and network
• businesses who don't need to serve customers from their premises
• businesses just starting out that do not want to commit to a long-term lease.