Industry sector: Consumer services

Picture framing: Rent

You may be intending to work from home - perhaps from a garage or outbuilding - but if not enter in your cash flow forecast the amount of rent you will have to pay for your premises in the months that you will have to pay it.

If you have not yet decided on a particular premises you could contact a local estate agent who handles commercial property to get an idea of how much the rent is likely to be. You should have already given some consideration to the type and location of the business premises that you will require, so they will be able to give you some guidance as to how much you will have to pay.

If you intend to open a retail outlet then you will probably need to find a location that you can afford which has a reasonable level of passing trade. However, if you're just going to be setting up a workshop then passing trade may not be so important.

Bear in mind that if your premises are open to the public, they should be accessible to customers and any staff members who are disabled.

Your solicitor will help you with the lease agreement but make sure that you are clear about:

  • whether the premises can be used for the purposes you have in mind
  • 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