Small businesses thrive in Brighton. The city’s focus on creativity and innovation make it a hotbed for new ideas. There are over 13,000 SMEs in varying fields and disciplines. From self-employed freelancers to young start-ups, you can find just about anyone here.

One of the main challenges is finding commercial space. With such a high concentration of young businesses, these rentals go by quick. You either have to catch it as soon as it hits the market or settle for something less ideal. Not everyone can be so lucky.

Brighton’s Self Storage Facilities

The best solution for Brighton businesses is to look for self storage facilities. Whether you have an online business or a store in High Street – the extra space can do wonders. Check out 5 Online Business ideas here. A self-storage facility in Brighton can be a place for your records, files, stocks, and furniture. Here are the top 5 reasons for why you need a business self storage:

It Keeps Costs Down

Brighton is one of the most expensive cities in the UK. It has a high cost of living and an even higher property rate. Given its prime location near the coast, it isn’t difficult to see why. Hotels, resorts, boutiques, pubs, and vacation homes – they all flock to the beach. Brighton is definitely a hot spot for commercial and residential real estate.

Small to medium enterprises generally struggle to find an affordable place. Most try to work from home to avoid adding to the expenses. Businesses that do manage to find a commercial space have to pay high fees.

Self storage is a great way to get the space you need without paying expensive rates. Several factors affect the price of commercial spaces:

1. Square footage

2. Facilities

3. Location

If you have a store in a high-traffic area or an office near the main street, expect it to have higher rates. Location matters especially when it comes to real estate. Renting a self storage unit in Brighton would be cheaper than renting a larger place on High Street. If your main service doesn’t need on-site space, why bother moving? Get a storage unit instead.

They have different size options at different price points. You only have to pay for what you need. They also offer flexible payment plans with great incentives. When you add it up, it is a lot cheaper to get a unit.

Learn other cost-cutting tips here: 5 Money-Saving Practices To Help Businesses Prepare For Another Lockdown.

It Offers Top-Notch Security

Self storage facilities have extensive security measures. 24/7 CCTV cameras, guards, alarms, and strict policies are always in place. When you keep your inventory, spare computers and furniture in your unit, they are sure to be in good hands.

Other alternatives won’t give you the same results. Think about it. If you were to set up your own warehouse, you’d have a ton of additional costs. Paying the rent, cost of CCTV installations, and monthly wages for a security guard? You might be able to have access anytime, but it’s too much. An established facility offers you everything you need.

It Allows You To Maximise Your Workspace

Most businesses might not acknowledge that they have a space problem. As long as everything fits right? Wrong. Given the floor plan sizes in the UK – everybody needs more space. When you invest in a self storage unit, you can maximise the utility of your store/office.

Try to break down your square footage.

1. How much space is being used by your employees? Cubicles, desks, break room etc.

2. How much space does your office supplies take up? Your printer, copier, watercooler, computers, etc.

3. How much space do you use for your inventory and supplies? Paper, ink, spare pens, products, promotion material etc.

In summary? It’s a lot. If your spaces are impeding on more than one job, you need a storage unit. There are many examples of this:

It’s when your break room doubles as inventory storage. Or when you have a section of the office filled with old furniture and tech. You aren’t utilising efficiently what you have on hand.

Maximising your workspace means investing in pieces that can help with your productivity. Like creating a break room where your employees can recharge. Or additional equipment to help streamline tasks like getting another printer and copier. With a self storage unit, you can declutter your office, and create space for the things you need.

Moving your clutter to a separate site also helps with employee morale. Clutter can negatively affect people’s mental health. It reduces productivity and encourages procrastination. What kind of business owner would want that on company time?

Learn to make your ideal office space: Creating a Business Space: Conducive To Productivity.

It Minimises Unnecessary Contact

Businesses that deal with confidential materials or high-value items can get a lot out of a unit. Since they are in a separate location, it automatically limits who has access to these items. Businesses with a long history of in-house theft can greatly benefit from this system.

It Is A Great Contingency Plan

Storage facilities usually hold spare items. You can keep just about anything as long as they comply with rules and regulations. The most common items in business units are tables, chairs, computers, and supplies. If there are any accidents, you can have a replacement on hand. After all, an outdated printer is better than none at all.

At the same time, a unit can hold your belongings in between moves or business dry spells. If you need to suddenly downsize, you don’t have to get rid of everything in one go. 

Regardless of what industry you are in, self storage can be an excellent investment. Improving productivity? Expanding your business? Better value for money? It ticks off everything on the list. There is no better way to get the space you need than a unit – especially when you are a small business.

Selling a small business is a process that requires multiple steps. Also, proper planning is essential to maximize the returns seen. While selling a business may seem likely a complicated process (and sometimes it is) there are some tips that can be used to make things easier.

For any business owner who is ready to sell, one of the first step is to use a professional service like the ones over at CGK Business Sales. Some other tips to help with the sale of a business can be found here.

Tie Up Loose Ends

It is well known that if someone wants to sell their home, they have to get it in order, first. Most people would not expect potential buyers to be interested in a house if the roof leaked and the walls needed to be painted.

This same concept is true when selling a business. If the contractors are not clear or if the balance sheet needs to be improved, the business’s value will fall, often significantly. Be sure to handle everything like this before listing the business for sale.

Determine the Value of the Business

It does not matter while someone decides to sell their business, determining the value is essential. There are many moving parts but investing in a business valuation is essential. In the long run, this is something that will help to ensure the sale is as profitable as possible.

Unfortunately, if someone does not have experience or a background in accounting, they may not fully understand what goes into figuring out the valuation of their business. This is fine, but it is important to understand the basic process used.

Earnings before interest, taxes, depreciation, and amortization (EBITDA), and the business’s cash flow are the top factors used to figure out the valuation of the business. If a business has a high level of revenue but the free cash flow is minimal, the value of the business will be less.

Any buyer who is interested in the business will look at the non-financial aspects of the business, too. For example, is there a strong management team in place? Will the company be able to run without the owner?

It is a good idea to contact a professional business appraiser to receive a detailed explanation of what a business is worth. Trying to negotiate the sale is going to be easier when someone knows what the business, they have is really worth.

Request Offers to Buy in Writing

When (and if) a business owner begins to receive offers to buy the business, it is essential to make sure they are in writing. This will allow the business owner to make proper and accurate comparisons. The price alone is not going to be the only factor that needs to be considered. Instead, it is necessary to record all the details of each offer to ensure the one that makes the most sense. This is essential and may require the help of a professional who knows what to look at and how to compare offers to find the one offering the most value.

Don’t Neglect the Business When Trying to Sell

A mistake that many people make is that they focus on the deal and begin to ignore the business. This is an expensive mistake because the deal is not truly complete until all the paperwork has been signed. If the revenue for the company declines suddenly in the months that lead up to the sale, buyers may decide to come back to the table and request a lower selling price.

In the months that lead up to the sale, be sure that it is clear who will run the business and who is going to oversee sale negotiations. This is going to help ensure issues do not arise.

Be Sure and Ready to Answer Questions from Buyers

Before selling a business, a business owner needs to prepare to answer many questions from possible buyers. For example, most buyers are going to want to know the reason for selling the business.

Is it being sold because the owner has plans to retire, or are they selling because it is not profitable? It is also necessary to answer any in-depth questions about the history of the company, how the valuation was determined, and if the business can continue to run without the owner.

Make sure to be as truthful and upfront with potential buyers as a person can and do not try to avoid or gloss over the flaws. If a company is dealing with an issue, a potential buyer should hear about this situation from the owner who is trying to sell.

Create a Plan for After the Sale

When the business is finally sold, what’s next? A business owner should have a plan for what they are going to do once the sale is complete. Even if someone is selling to retire and spend time with their family, they should still have certain gains to work toward achieving. If they do not have this plan, the former business owner may find they feel bored and even depressed at times.

It is also important for a business owner to take some time before spending the profits earned from the sale of the business. This is going to give them the chance to know what tax responsibilities they have and to think through the financial goals they have set.

Selling a Business with These Tips

When it comes to selling a business, there are several important factors to keep in mind. With the information here, it is possible to ensure that the desired results are achieved and that the business owner gets the full value of the business. Remember, when someone builds a business through the years, selling it can seem difficult; however, it is possible to get what the business is worth -; and then some -; if the right tips are followed. Being informed is the best way to sell a business.