Shop, food, professional office, land, co-working, factory, mobile or home based businesses all have one thing in common - location.
Pick the perfect spot
Make sure that you:
- have a clear picture in your mind of what you want
- what are your 'must have's'?
- what are your deal-breakers?
- can afford it?
- think about set up, weekly rent or mortgage repayments and outgoings (utilities)
- consider the outside appearance, signage and lighting
- is the location easily accessible?
- is it safe for all staff?
- is it welcoming and approachable for customers?
Considerations in choosing a location
- style and image
- does your location suit your products and services?
retail and food
- are you looking for local customers or is proximity not a need for your business?
- will the local community support your products or services?
- will you be able to get staff to your chosen location?
accessibility and parking
- foot traffic is important.
who are your competitors and where are they located?
- consider how your delivery drivers will access your business
- how will customers arrive in wet weather?
- is there disability access both to your venue and once inside?
what is the history of the site?
- do the businesses nearby complement your products and services?
- will your staff and/or customers benefit from your business being in a similar location to the supporting businesses?
check with Council for permits and regulations
- will it need costly repairs and ongoing maintenance?
- why did the previous tenants/owners move out or sell?
check access to internet, phone, air conditioning, heating, gas, electricity, toilets, water and sewerage.
- what is the 'zoning'?
- will your type of business be supported by the regulatory authorities governing the location?
Freehold and leasehold
- when purchasing a commercial property, it's commonly referred to as a freehold. This means you purchase the building and land the building sits on. Freehold investment properties can be leased on.
- a leasehold is where the building and land is owned by another, and you purchase the rights to occupy the premises for a period of time. Commonly leaseholds are advertised as (example) 3 x 3 x 3 or 5 x 5 x 5.
In the case of 3 x 3 x 3, the lease is for three years with an option of a further three years, then a further three years after that. The landlord, in theory, cannot reasonably refuse continuing the lease, which gives the leaseholder a bit more security in running a business. The landlord benefits from having ongoing secure rent for an extended time.
Local commercial property agents:
National commercial property agents:
Victorian Small Business Commissioner
The Victorian Small Business Commissioner is the first port of call for dispute resolution services between retail tenants and landlords. The Victorian Small Business Commissioner receives over 1,000 retail leasing disputes a year.
In July 2019 the Victorian Small Business Commissioner developed a tool to assist businesses when managing infrastructure disruption. The tool is designed to help business owners and operators plan for and manage disruption
Geelong has a range of sites, industrial land and premises to meet current and future investment needs. There are a number of existing areas and precincts earmarked for long term development within the municipality.
Geelong Ring Road Employment Precinct (GREP)
Strategically located to the City's north, GREP encompasses 500 hectares of land zoned for heavy industrial purposes with significant opportunities for greenfield development.
The GREP is one of only a few areas available within Victoria with large lot industrial 2 zoned land.
Located south of Geelong, the Armstrong Creek precinct is a master planned growth community of residential, commercial and industrial zones. Framed by the southern suburbs of Geelong and close to the seaside town of Torquay, the area has transport options of train and bus services.