One of the most important decisions that Florida business owners may make concerns where they decide to set up their entity. While some businesses are transactional and may be run out of owners’ homes, others may require physical space where manufacturing, distribution and other operations take place. When it comes to finding a place for a business to be located, owners need to decide if they want to rent space or buy their own commercial properties.
As previously discussed on this blog, securing a fair commercial lease agreement can take a significant amount of due diligence to be done properly. While commercial leases can be restrictive, they are not permanent property interests that bind businesses to significant loans, upkeep costs and other ongoing expenses. When a lease ends, a business is free to move to a new location that may better suit its interests.
However, some businesses may want to invest in their own commercial spaces. If purchasing a building is financially wise or a business does not anticipate needing to move in the near future, the investment in a purchased space may make sense. However, sorting out these and many other details may confuse business owners who are unsure of how and where to start up their companies.
At our law firm, we know that making big decisions about small businesses can be a delicate process. Individual business owners deserve to have the best possible information before they commit to commercial lease or purchase agreements, and our law firm is prepared to work with our clients who are struggling to decide how best to serve their businesses’ needs.