Factors to Consider When Looking for a New Office Space
Choosing the right office space is one of the challenging decisions you will have to make as a business owner. The success of your business can be determined by the location of the office. If you do not have a suitable location, you can struggle to get clients. Apart from this, you should choose a location with your future business requirement in mind.
Most commercial space is offered at a lease running from 3 years or more. Before signing the dotted line, consider the following.
With business growth be possible at the location?
Before choosing an office space, consider the immediate needs of your business. Moreover, future business requirements such as expansions should be possible at the location. If you cannot be pay for a large office space at the time of moving, find out whether you can be given a shorter lease. Alternatively, make sure the lease agreement gives you the first right of negotiation on any adjustable space that may become available.
If the location right for employees?
It’s also important to choose an office space that can be easily accessed by your workers. This means you should know where majority of your workers reside. Some employees may not be comfortable with increased commuter time and expenses if the office is too far away. Before choosing a new office location, discuss with your employees to know what they think. It would be a big blow to your business if key employees resign due to commuting challenges to the new office location. If the location of the office is easily accessible, you can transition smoothly without risking losing any employees.
How suitable is the office location for clients?
Before choosing an office location, find out whether your clients can easily access the area. Will the new office be easy to reach for them? If you offer products or services that are easily available at different places, do you think clients will be ready to drive miles just to get the services or products from your offices? If you opt to leave the CBD for a cheaper location in the suburbs, this will lower your costs. However, it can also cost you customers. You have to weigh the cost of losing customers to the savings you will get to determine whether having an office is the suburbs will be worth it. While video conferencing and online communication are used today in business, face-to-face meetings are still important.
How will the new office project your business?
Think about how the new office location will be portraying your business. Your office location and space can make or break your business brand.
Follow the four tips above to find the right office space to choose.