Oct 14, 2020

Buying Versus Renting a Commercial Space

As you develop your business, you need to make countless choices. What will your logo look like? How much will you pay employees? Do you need a website?

While all of these choices are important, the real estate decisions you have to make for your brick-and-mortar location are some of the biggest and most significant on the table. You may sign lease agreements that last multiple years or take on a multi-decade mortgage. 

You don’t have to feel overwhelmed by your real estate options. If you weigh the pros and cons of each choice and evaluate your finances objectively, you can make the best choice for you. Here is what you need to know about renting vs. buying a commercial space. 

Pros of Leasing

Cons of Leasing

Pros of Buying

Cons of Buying

The decision between buying and renting commercial space will depend on the nature of your business and your financial flexibility. If you plan to create a legacy that stays open long after you retire, then you may want to buy a property. However, if you just need a brick-and-mortar space for the next few years, renting may be the better choice for you. Either way, do your research, crunch the numbers, and make the best choice possible based on the information you have. 

About the author

Derek Miller
Derek Miller
Derek Miller is a writer specializing in entrepreneurship, small business, and digital marketing. His work has featured in sites like Entrepreneur, GoDaddy, Score.org, and StartupCamp. He’s currently the CMO of Smack Apparel, the content guru at Great.com, and a marketing consultant for small businesses.


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