Have you been looking for a place to call home for your business but coming up short? You’re not alone - the pandemic housing boom and rising inflation have made it even more difficult for small businesses to find and afford real estate. We’ve got some tips on how to hunt for your dream brick and mortar right here!
Work with Commercial Real Estate Agents
Collaborate with commercial real estate agents who have access to a wide range of listings and can help you find suitable properties within your budget. These folks are the experts on finding the right kind of space and neighborhood for your business.
Utilize Online Listing Platforms
Leverage online platforms like LoopNet, CoStar, and CREXi to search for available commercial properties and filter options based on your specific requirements. However use this with caution - unless you have real estate experience yourself, it might be a good idea to use online listing platforms in addition to working with a professional to get yourself the best deal.
Consider Subleasing
Explore subleasing opportunities from existing businesses as a cost-effective way to secure space that might otherwise be unaffordable due to market conditions. This is especially helpful for small businesses that might be in the pop-up stage.
One example could be if you’re a restaurant owner who specializes in more of a dinner, late night kind of menu, sublease from a breakfast restaurant!
Networking and Industry Connections
Attend networking events, engage with local business associations, and build connections within your industry to discover available spaces through word of mouth and industry insights. Connecting with small, local developers to find retail space could also be a great way of creating a mutually beneficial relationship - they can offer you the space, you bring the vibrancy of a small business to a community they’re trying to attract people to!
When you’re ready to take the keys, Honeycomb can help fund it!
Whether you’re looking to rent or own a place, or are looking for funding to help renovate and build out your business’s new home, Honeycomb Credit can help you meet those goals. Your customers and biggest fans can invest in your business, and that means they’ll be there when you’re ready to open your doors. Learn more about Honeycomb Credit by filling out the form below!