Bulldogs, Prime Ministers and jellied eels – London is the capital of more cultural artefacts than Las Vegas. But while it is a tourist hotspot, it’s anything but a cheap place to run a business.
Indeed, the living wage is higher in the capital, rent prices are exorbitant and travel costs are through the roof.
So why do so many businesses feel the draw of this major city? Profits, pure and simple.
Starting a company in the capital, however, will probably leave you in a premises with little to no appeal. With that in mind, we’ve come up with a few ways for you to maximise that space. So have a look.
Master the mezzanine
Mezzanine floors London have become the hippest part of an office. You can imagine one peering over a cool central media agency or a hip and happening tech firm. But they’ve got more valuable than simple aesthetics.
Without a mezzanine construction you’ll have half the space – and in a dinky London build, that could be a struggle.
Install another platform in your workplace and you might even be able to stretch out your legs.
Zone it up
London is split into various zones and districts. Although ostensibly to help the transport network, run smoothly, these zones can also help you discern between the affluent districts and the poorer ones.
If you’ve got a specifically hip and cool product to hawk, places like Hoxton and Camden could be the ideal spot. Whereas a relatively strait-laced enterprise might perform better in a central location.
Ultimately, you’ve got an endless number of configurations when it comes to where your business can be situated. So just be sure you make the right choice.
As internet use rises, not every business can hack a lone operation on the high street. No matter what kind of business you are, teaming up with another company to share premises has a ton of advantages.
Just look at savvy bookstore Waterstone’s. Knowing how much its customers love a cup of Jo, it buddied up with coffee chain Costa to share building space. Now its clientele can pick up a paperback and enjoy it with a latte, all under one roof.
Take inspiration from this durable and profitable partnership. Find a business that complements your own and split your store space to maximise your profit margins.
This is a bit of a balancing act. The trick is to find a fellow company that won’t pose a threat. So you have to be poles apart while still finding common ground. And it sure beats paying the bills on your lonesome.