79. Space for Production

Most businesses require space for functioning which is directly determined by the type of business in question. In this section, you need to chart out the various requirements and facts about the space that your business needs to thrive and prosper.

Requirement – Dish out the space requirements for your business. Does the business require a warehouse? If yes, then how much space you need?

Feasibility – Mention the details about where you want this space to be. For e.g. if you are a retail store then it should be in close proximity to the customers while if your business plan is about operating a chicken farm then you won’t mind a place in a far flung area.

Costs – As the name suggests, include details about the costs that would be involved in procuring the space for your business. Another aspect you need to go into is with respect to the type of procurement i.e. are you going to buy the premises or opt for giving rent. Include reasons as to why one would be better than the other as this varies from business to business.

Future prospects – Would you require more space in future? Include details about all the future acquisition that you may need to carry out.

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