If you’re actively looking for a new office location, remember that your choice can make or break your business. Scouting for a new office location isn’t all about aesthetics. There are other decision-swaying attributes to keep in mind in your search.
Identifying space that fits the company’s needs is something you can’t do in a hurry. There are multiple considerations around the office space and how it impacts your clients and staff.
To help you figure out what you need, here are 10 crucial factors to consider in determining where to rent your office space.
Co-working Space Or Office Lease?
The first and crucial aspect to consider is the kind of space you wish to move into. Considering to lease means you have to dig deeper into the company finances because office leases are more expensive, and they are a longer-term commitment. On the bright side, a lease offers you more freedom to personalize the space to represent your brand.
A co-working space is better if you have fewer employees and only need the space for a limited duration.
The location of the office is crucial because it determines your exposure to potential customers. Also, ease of access greatly contributes to your business growth. Office space near establishments like bars, coffee shops, and malls boosts employee morale. In addition, evaluate how easy it is to access via public transit and the parking options.
The Purpose The Office Intends To Serve
When choosing your office space, you need to understand the purpose the office serves. Is it for client meetings or space for employees to work? These are factors to consider because it determines the office space you need. You must decide how to lay out work areas and the sufficient number of conference rooms.
Office Location Cost
Costs are significant because the company’s development stage determines its capital financing status. Also, it’s important to prioritize other administrative expenses in determining the company’s ideal location.
Legal Considerations For Your Office Location
Check out the legal implications of shifting your business premises. Also, you must ensure that the new office meets the required safety standards. They include lockdown procedures, fire protection, and health hazards.
Proximity To Talent
Depending on what your company deals in, you want to ensure that your location allows you easy access to the right workforce. A steady flow of ambitious talent keeps you at the top of your competition without depleting company resources.
Style Of Your New Office Location
On most occasions, style never comes to mind when settling for an office location. Although there are more important aspects, you must consider the office style to maintain the company brand.
Here’s what you need to consider about style:
- Are there similar businesses in the area?
- Does the new office management allow you to customise the space?
- Would you be proud if photos of the office interior appeared on the company website?
Growth Plans For Your Office Location
Find a space that fits your future growth plans. Consider finding a space in an up-and-coming town that’s not too popular because the rates might be astronomical.
Close Proximity To Suppliers
If your business deals with physical products, your business location should be near suppliers. Moving further from the supplier means increased delivery costs.
Team Building Opportunities
Potential team-building activities like local gym facilities are a great way to keep your employees motivated. Start by understanding what your staff like and find a location that matches their interests.
Over To You
It’s your job to find the ideal office location that fosters high morale, productivity, and collaboration. Tap into the above advice, and you’ll find a place you and your employees will enjoy coming to every day.