Choosing the right office space can be important for the productivity and success of your business. Here are a few things to consider when searching for an office.
Do you really need office space?
The first thing to consider is whether you really need an office. The pandemic has given many businesses a taster of what it’s like to run a ‘virtual office’. By working from home and hiring employees remotely, you could reduce the need for you and your workers to commute, while saving huge amounts of money ordinarily spent on office leasing and energy bills. Some companies have found that they are just as productive (if not more productive) working from home. However, many others have found that they prefer the physical office environment. Often it depends on the amount of solo concentration vs the amount of collaboration that is needed.
Finding the right location
If you do choose to opt for a physical office, the first factor you should consider is location. Your office needs to be accessible for you and your employees, as well as any clients or third-party individuals that may visit your premises. You also want to make sure that it’s located in a safe and secure area. Some of the the features to consider include:
- Distance for you and your employees to commute
- Good roads/public transport links
- Access to local parking
- Local crime rate (especially burglaries on commercial properties)
- Local noise/air pollution
This guide at Small Business offers more tips on finding the right location. Narrowing down the location will help you to focus your search more easily.
Finding the right building
The building itself is the next biggest thing to consider. There are many factors to think about when choosing the right building, including:
- How big - do you need extra space for growth?
- What layout? Open-plan or closed-off rooms?
- Does it meet my tech needs? (i.e. are there enough electrical sockets?)
- Is it a healthy environment? (is there good air quality, natural light and safety features?)
- Is it a secure building?
Some companies may be quite flexible when it comes to the type of building. If you’re only looking to rent a small space, you may be able to rent or sub-let a small part of a larger office building. Shared office space could be worth looking into too.
Others companies may have more precise needs. In such cases, it could be worth working with a contractor/developer such as Brent Edward Lovett of Nevada to build your own office. Alternatively, you may be able to renovate an existing building to include the features that you need.
Getting the right price
The cost is a very important factor to consider when choosing an office as it affects your profits. However, you also shouldn’t prioritize it to a point that you’re blinded to all other factors.
The most expensive commercial property will usually be bigger and in a better location. It may have perks such as lots of parking space or great security features. To lower the price you’ll often have to be prepared to sacrifice some of these perks. Make sure that you’re not sacrificing everything for cheap rent/mortgage.
It’s also important to remember that rent/mortgage isn’t everything. An energy-efficient and secure building may be more expensive to rent/buy, but it could also come with much cheaper energy bills and insurance.
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