Planning for Growth: What Startups Should Know Before Securing Commercial Space

By Cameron Foster | Broker

50 years in Commercial Real Estate have shown us that thoughtful planning can make all the difference between a smooth path to growth and a costly misstep—especially for young companies navigating CRE for the first time.  

In this article, Boulos broker Cameron Foster shares his hard-won advice and key considerations for startup businesses preparing to secure physical space. Foster has spent more than a decade working with tenants—particularly startups—and knows the real estate process is more than just a transaction: it’s an essential part of growth, future planning, and long-term success. 

“Mistakes in commercial real estate can be…expensive,” says Foster. “But thoughtfulness, time, and a strategic mindset can help entrepreneurs avoid the most common pitfalls and make decisions that align with both their short- and long-term goals.” 

Don’t go it alone 

CRE transactions are complex and highly nuanced. Scaling a business that includes physical space requires more than just identifying a great location. It requires planning, persistence, and the right people in your corner. 

“Surrounding yourself with professionals who are all working toward the same vision is critical,” adds Foster. “It’s like building a small army that will bring your business to life.” 

This team might include architects, legal advisors, municipal contacts, and brokers who understand the market and the steps involved in bringing your project to life. Knowing what your city or town requires is also vital—especially when comparing potential sites or preparing for a custom build in your new space. 

Knowledge is power 

Now that you’ve got your team assembled, Foster always encourages his startup clients to ask: 

What are my municipality’s current zoning and permitted uses for this space? 

Will I need an occupancy permit or local/state inspections? 

Are stamped architectural plans required for my intended use? 

Who are the stakeholders for this space? And how will they affect my deal timeline and budget? 

Understanding these variables upfront will not only reduce the odds of a “surprise!” later on, but it will also strengthen your negotiating position with potential landlords. 

“It’s important to remember that landlords don’t speak for the municipality,” Foster noted. “Taking the time to do your due diligence gives you more confidence and leverage when making an offer.” 

Dream it; do it 

Moving into your company’s home can be daunting to say the least, so Foster developed a checklist that helps entrepreneurs identify key stakeholders and resources to consult during the process. His goal is to make sure you’re a confident owner who doesn’t flinch in the face of common questions like:  

Do you have a business plan or projections?  

What about an overview of your financials?  

Where are you getting your funding and how are you filing your taxes?  

Are there any federal, state, or local incentives you can tap into?  

When do I need to be open and operating? 

“I’ve walked this path with new founders many times,” Foster said. “Seeing those businesses grow, expand job creation, and enrich their communities has been by far one of the most rewarding parts of my work.” 

Among his recent projects are the opening of Graywood Maine, a Falmouth-based CNC woodworking company, and the opening of Owlbear’s Rest, a new board game café in Westbrook, ME. 

For early-stage companies looking to secure their first or next space, The Boulos Company is here to build your custom real estate strategy.