There is no better feeling in business than that of success. The order book is full and there are new, enticing prospects on the horizon. But soon you realise that you simply don’t have the space or equipment that you need to maintain business momentum going forward. So should you stay where you are and refurbish your premises? Or should you move premises and relocate your business?
Better To Move Business Premises or Refit and Refurbish?
First of all, you may well look at the cost of moving … and come to the conclusion that is it just not worth relocating. When you take into account the inevitable disruption to staff and customers as well as the issues around terminating your existing office or shop lease (not forgetting dilapidations) or perhaps even selling up (if your business owns the current premises), it can seem like a step too far.
Your thoughts then turn to refitting and refurbishing your existing premises and facilities, and extending your current lease.
The ‘do I stay or do I go’ dilemma is the reality that many business owners face today even though across the UK there is a general abundance of spare commercial space available.
Leasing Refurbishments, Fit Outs and Refits Can Save Time and Money
Although refurbishing your existing premises can be a time consuming and expensive project that will invariably cause some form of disruption, it can still be a much cheaper and simpler solution than moving.
Whether you are upgrading your office, shop, warehouse, restaurant or factory, using lease finance to cover the refit and refurbishment costs including related services, avoids one of the major obstacles to change for many companies… that is having the financial resources to pay for the improvement work upfront.
Even where companies are in the fortunate position of having spare capital, the owners would often prefer to keep this money to fund the general working capital requirements of the business. Using asset finance and a lease agreement to fund the refurbishment costs is a logical solution that means you don’t have to approach your current bank or tie up existing lines of funding. And you can, of course, pay for the works over their useful life rather than all upfront, for example over a three, four or five year lease period.
If you are looking to refurbish your shop, warehouse, hotel, factory or office and would like an indication of what it would cost per month, why not use our online lease calculator for an instant quote. Alternatively, please give our Leasing Refits team a call on Tel: 01494 611 456.