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Why Entrepreneurs Must Lease Commercial Condos

by on | Categories: Condo Advice and Tips, Investments, Renting

People looking for a commercial space for their business spend days or even a few weeks or a month trying to find “the one.” A business is a huge investment so never just settle. A great location with a profitable market is not very easy to come by. But have you tried commercial spaces in condos? Major condos in the Philippines have a commercial center to cater to the needs of homeowners. This is why residential condos are valued to be great investments — not only are they in a prime location but they are part of a prime community that has it all. And with the growing condo market, it is no surprise that commercial spaces in condos have become the preferred location of business owners.

When looking for commercial spaces for rent, business owners and entrepreneurs look at the location, foot and vehicle traffic, and nearby landmarks. “Along the highway” or “near schools and offices” are not the only options now because every single consideration with location and market is also being provided by business spaces in condos. Rental may be slightly higher but profit and faster ROI certainly outweigh it. For those thinking of putting up a business, here are reasons why investing in commercial condos are worth looking into.

Location is a give away

tivoli garden residences
Tivoli Garden Residences, DMCI Homes Leasing

Condominiums are at the center of everything that ever mattered. Therefore, setting up an office space or a commercial establishment in a condo means being at the heart of the metropolis, too. That is a dream location. Aside from walk-in customers who can chance upon your store, homeowners and guests in the building are automatically drawn into you. Homeowners are happy you are there. They don’t have to go elsewhere to get their nails done, shop for essentials, or dine in.

Necessities as businesses

business idea
Photo courtesy of Wokandapix via Pixabay

What do people need in their home? What do they need for a comfortable living? Answer these questions and you got yourself a profitable business idea perfect for commercial spaces in condos. Remember that you are catering to families and professionals. What do they need?

Necessities are always a good start to a business plan. If the condo doesn’t allow tenants to wash their clothes, a laundry shop is a perfect idea. Convenience store for things they run out of, coffee shop for on-the go professionals, fine restaurant for a hassle-free family dinner, and spa for relaxation are good businesses. Did you ever think of a cleaning business? Like hotel housekeeping? That would be nice, too. Necessity is the best driver for a business because it leaves people with no choice but to try you out.

Office space that feels like home

Condos are also good office spaces. The location is perfect because it is near public transportation so employees do not have to worry about going to work. The space is also not so small nor so big for start-up companies. The rental is just about the same as prime office spaces or even cheaper. It also has everything they will need like comfort room, pantry, lounge, and even sleeping quarters if they need one. And best of all, it feels like home.

More perks, more savings

condo security
Photo by Lydia via Flickr, Creative Commons

A commercial space for rent in a Manila condominium has some serious perks. Among them is security. Since commercial hubs are within condo premises, developers take care of security. CCTV cameras are everywhere and won’t add to the cost of starting a business. Some developers also assist in maintenance and repairs. If your business has delivery or home services, no fuel is needed to cater to tenants of the condominium.

When it’s near, life is more balanced

work-life balance
Photo courtesy of Kevin Morris via Flickr, Creative Commons

Employees, especially women, struggle with achieving a work-life balance. One recent global survey revealed that one-third of employees are finding it even more difficult today to balance their personal and professional lives. What if your child is not well? What if you have guests coming over for dinner? What if there are some repairs to be done at home while you are in the office? But if your home is near your office, you don’t have to worry that much. If you are a condo homeowner planning to start a business or setting up an office, going for a business space in your condo is a good idea. It is like hitting two birds with one stone.

Your community, your market

tenants primary market
Photo courtesy of RonPorter via Pixabay

When you lease or rent a commercial space in a condominium, tenants and homeowners become your primary market. And you are not doing anything yet. You got this market by simply being there. Profiling and segmenting this market is also easier because you see them everyday and know what they are like.

Marketing made easy

Commercial real estate is becoming a focal point in the condominium industry. Developers are incorporating commercial centers into their design to attract not only home buyers but business owners, too. When developers sell a condo unit, they sell the idea of convenience, which includes a vibrant commercial hub. They sell your business.

You can expand your market and make loyal followers by being active on social media and building a community. A recent study conducted by Simply Measured found that 59% of the world’s top brands are now on Instagram, so why won’t you? Make it more personal so that it does feel like a community. Or by all means, go door-to-door and distribute flyers.

Opportunities are endless

Condos are only going to be more popular. Your business is just going to ride along with it. As more and more tenants occupy the condo, your market effortlessly grows. And since you are in a prime location, the place will only get busier.

Condos are not only a good place to build a home. It is also an excellent choice to kick start your business. A business space in a condo guarantees a great location and a growing, loyal market—two things that are the most difficult to come by in putting up a business. As much as condos give worry-free living, its commercial centers also have fewer things to worry about—security, convenience, and profit.

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