The right location and premises is important for the success of any business.
You'll need to lease or buy a premises unless you decide to run your business from home.
When you choose a premises, you should consider:
- the product or service you offer
- the location of your customers and suppliers
- your finances.
Types of premises
Types of premises and examples of common business types that use them include:
- warehouses - for distributing, manufacturing and storing
- food and retail shops - cafés, restaurants and providers of goods or services
- office buildings or shared working spaces office - service providers
- home offices - tradespeople and consultants
- temporary or moveable locations - market stalls, pop-up shops and mobile vans.
Read more about choosing your location on the Australian Government's Business website.
Lease or buy
Weather you lease or buy will depend on your individual situation.
You should seek legal and financial advice to help you decide what's in your best interest.
If you decide to lease, you must understand the responsibilities and costs with leasing a commercial property.
If you decide to buy, this can be expensive so you must make sure you and your business can afford it.
Get the right planning approvals
You may need planning approval to build, renovate or change the use of a building. This could include:
- changing an industrial warehouse into a retail store
- turning an office into a café.
Make sure you check planning requirements.