When you walk around a town’s shopping high street there is always that one shop you would like to visit, but is set far away from the rest and for this reason, doesn’t receive enough business. Choosing the right location for your office space can also be the difference between your business being successful or failing.
There is a great difficulty in finding the right balance between the greatest location and being able to afford to rent or purchase a property. Where you have a limited experience in assessing whether the office space meets all of your criteria, including the financing, it may be better to enlist professional help to guide you to the right decision.
Your lease will last for years
Should you purchase an office location and find out you have made a mistake, it will be expensive in legal costs and other expenses to sell the property and move to another. Where you have chosen to lease an office space, you will almost certainly have signed up for a number of years and will guarantee to make those payments even if you close down or move your business.
While you may have to live with those expenses, your employees will be working in the office space of your choice. Where your decision is right, you immediately increase the productivity and attitude of your staff, but should you make the wrong judgment, this will effectively reduce the work from your people which will increase your expenses, slow down your efficiency and waste money in areas you hadn’t thought of.
Your considerations for new office space
You will benefit by conducting sufficient research about the various choices of location. A cheap rental may mean that it is difficult to rent the property or it is located in an area without a good reputation and the neighbourhood may not be safe and secure for your employees to travel from your premises and to their mode of transport to and from work. If the office lacks car parking, you will be looking at the transport links to ensure that employees can get to work safely.
Employees need somewhere to buy their lunch and if you take clients out for drinks or a meal, are their choices within walking distance of your new offices? When you need paper and pens, is there a shop that can help you? Your employees will thank you if your office is located close to a chemist, a bank and a shopping area.
If the building is in a trendy area or somewhere that is up-and-coming, the price will be reflected in your regular expenses, but this may boost the attractiveness for new employees to consider your business.
Should you choose a large office block as your new home for your business, will there be a general reception where your customers can be greeted because those first impressions will have an effect on your businesses?
Your research will indicate whether the building is well maintained and whether the service charges reflect the quality of the upkeep of the property. You may need to think ahead to consider if you need out of hours access to the property and by searching through the current occupiers list, are there any competitors that you wouldn’t wish to live close by as they may steal your customers, by talking to them in the lift, on the way up to your office.
Understanding the rules about the office space will tell you if there is enough room and what will happen if you wish to expand. You’ll learn about the decorating rules and whether the layout of the office can work effectively for you.
You may not secure everything on your wish list for your new office, and finding the balance between location and affordability is difficult.
Chris Jenkinson writes for Ostara Systems who provide computer aided facilities management.