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. Where your office will be located can make or break your business. If you do not have a suitable location, you can struggle to get clients. Expanding your business can also be challenging if you do not get the right location in the first place.
When you find an office space, you are likely to be required to sign a lease for a few years. Before appending your signature to a lease, find out the following:
Will the office be suitable for future business growth?
The office you choose should be suitable for the current requirements of your business. You should also consider growth and other future business requirements. 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.
Consider whether the location favors your employees
The location of the office should be near where most employees can easily reach. Therefore, find out where most of your employees live. Some employees may opt to seek employment elsewhere if you select an office whose location is quite far and will significantly increase their commuting expenses. 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.
Will clients be able to reach the offices easily?
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? With the increase in transportation costs, people may not be as willing to travel to far distances just to get services or products that are easily available elsewhere. You can lower your operational costs if you choose an office location that’s in the suburbs instead of urban areas. However, it can also cost you customers. Consider whether the lower costs will be worth the possible loss of clients. While the internet has revolutionized business communication, some clients still prefer dealing with companies in person.
What outlook will your business have with the new office?
You should also consider the outlook that the new location will be sending about your business. Most clients will form an opinion about your business based on your office location and space.
Follow the four tips above to find the right office space to choose.