April 5, 2019 – West Bend, WI – You’ve done it. You have overcome the initial hurdles in your business, and you are growing exponentially. Now you are faced with another question for your business. Should you continue to lease, or should you build a new facility?
There are several components to consider when making these decisions, and pros and cons to either choice.
Pros:
- You can customize the layout to fit the exact needs of your business.
- Everything will be brand new.
- You can set yourself up for future needs and growth.
- Long term less expensive.
- Equity in your building.
Cons:
- More time consuming to purchase land, plan the facility, wait for construction to be completed.
- Higher upfront cost.
Pros:
- Facility is more readily available.
- Someone else is handling property management.
- Short term less expensive.
- Can easily move to a different facility if needed.
Cons:
- Higher reoccurring charges.
- Possibly more repairs since facility is older.
- Unable to customize to your exact needs.
There is no right or wrong answer to this question. There is only a right or wrong answer for your business.
At American Companies, we specialize in all aspects of commercial buildings. We can help you design and build your new custom facility. We can also help you find the optimal location to lease.
We want to assist you with this important decision for your business, because at American, “our job is to allow you to do yours.”