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 choose the wrong location, you may lose clients and employees. Also, if the location is not right, growing your business can be difficult.
When you find an office space, you are likely to be required to sign a lease for a few years. Keep in mind the following before signing a lease.
Will the office be suitable for future business growth?
The office you choose should be suitable for the current requirements of your business. Moreover, future business requirements such as expansions should be possible at the location. Find out whether the space owner can give you a shorter lease if you are not ready to pay for a larger office space at the time you are moving. Another option is to get the lease to indicate you have the right to negotiate for new space that becomes vacant next to your location.
Consider whether the location favors your employees
It’s also important to choose an office space that can be easily accessed by your workers. Thus, find out where most workers live before choosing an office space. 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. You do not want to lose key personnel due to going to a new location. Basically, make sure the office location is convenient for everyone.
How suitable is the office location for clients?
You should also think of your clients when looking to move to a new location. How easy or difficult will clients find it to reach the new premises 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. If you opt to leave the CBD for a cheaper location in the suburbs, this will lower your costs. However, the location you choose may not be suitable for clients. Before selecting an office location in the suburbs, consider whether you will be able to attract new customers or maintain existing ones from that location. While the internet has revolutionized business communication, some clients still prefer dealing with companies in person.
How will the new office project your business?
Another thing to consider is the signal that the new office location will be sending. Your office space will speak volumes about your business.
Follow the four tips above to find the right office space to choose.