Your premises requirements may depend on the types of service that you intend to offer. If, for example, you carry out all of your work on site you may not need any premises at all, although a small yard, lock-up garage or similar could be useful for storing equipment and materials. Many small fencing businesses are run from home, perhaps with the garage or a large shed used for storage. If, however, you are going to fabricate things like railings and gates then you will probably need a properly equipped workshop. A larger business might also require office space.
If you are going to have any premises, enter in your cash flow forecast the amount of rent you'll have to pay in the months when you'll have to pay it.
If you think you will need any premises and have not yet decided on a particular site you could contact a local estate agent who handles commercial property to get an idea of how much the rent is likely to be.
Your solicitor will help you with a lease agreement but make sure that you are clear about:
- whether the premises can be used for your purposes
- how frequently the rent will be reviewed
- how long the lease runs for
- what you and the landlord are each responsible for
- the position as regards sub-letting