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A thriving business means bigger profits and a higher turnover of stock. It also means that you will need a lot more space very soon. When your business is enjoying success, you will likely find that it outgrows your current premises pretty quickly. Extending your commercial building is a logical next step. However, before you go ahead and do this, there are a few essential tasks to complete first.
Keep reading to learn more about three of the most important things for you to do before you extend your commercial premises:
1. Check Feasibility of the Land
Before your plans for developing your commercial premises go any further, it’s helpful to start by checking the ground is suitable. This is especially important if your existing building was constructed long ago.
Soil Testing is an essential task to ensure that your potential site for the extension is suitable for construction. Commissioning soil tests will help you to understand whether the ground is stable enough for construction and establish whether it is safe to build on and not contaminated. This information will play a crucial role in helping you to decide whether to proceed with the construction project on the site before you put any further time and energy into the project.
2. Seek Permissions
Failing to ensure that you have the necessary permissions before you start construction can cause major disruption and is a hugely costly mistake to make. Even if you go ahead and build, if you don’t have the right permits, you could be forced to tear your building down.
Applying for planning permits early is a wise idea to avoid unnecessary delays. Carrying out plenty of research to ensure that you have applied for all necessary permits is also crucial and will help to minimise the chances of unexpected setbacks impacting your project’s timeline.
3. Prepare Your Budget
When your business is enjoying a huge increase in sales, and you’re running out of space at your company premises, extending is a priority. But it’s still vital to assess the feasibility of your plans to extend your buildings.
Constructing additional business premises, even on the same plot as your existing site, can be hugely expensive. So, you need to factor in all the costs that this will involve and ensure that the project is financially viable.
When considering your costs, you should also include a contingency amount. Having a contingency fund in place is an excellent way to be prepared for any unexpected costs that may crop up along the way. Construction projects often overrun in terms of both time and money, so knowing you have extra funds in place can help to provide some extra peace of mind if you’re faced with obstacles along the way.
With proper preparation and a thorough understanding of the potential difficulties expanding your business premises may bring, you can be ready to tackle any issues that come your way. With your preparations complete, you will soon have bigger and better premises for your successful business.
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