Taking the next step and finding an office location or workspace for your business is an exciting time. It can also feel daunting having to search for a place appropriate for your industry and image, on top of your day-to-day business management. To relieve you of some of that pressure, consider these five helpful hints when you’re on the lookout for the right space:
1. You Don’t Need To Buy Amenities and Furnishing
What kind of amenities and furniture does your business need? Are you thinking about computers and desks, work stations, kitchenettes or technology? If you are a start-up or newer enterprise, chances are you’re going to have a lot of overhead costs starting from scratch. Why waste all that time and money when you can look into fully-furnished serviced offices that cover everything you need in one monthly cost?
2. Location Is Everything
When choosing a physical workspace or a storefront, it’s no secret that your location of choice is a make or break decision. Make sure to delve into your research on the suburb, the demographics, existing businesses and any local trends that may indicate it is ideal for your business. If you are uncertain about what may work best for you, or believe a central location is best but are hesitant about the costs, consider renting a coworking space, or a serviced office over a year-long lease. Test those waters!
3. Consider Parking and Transport
Your location, especially in your early days should be accessible to as many people as possible. This is important for you, your employees and your prospective customers. Areas close to public transport are generally ideal for many kinds of business as they get a lot of foot traffic every day. If you have a team of employees, always consider on-site parking options when making a final decision.
4. Think Long-Term When It Comes To Size
When considering the size you want in your new company space, don’t make any final decision based on just your size at that given moment. Think about the physical space required for your business to thrive in the future. What kind of equipment, desks and workstations will you need? How often will you be moving large items around? Do you want to grow your staffing in the near future? Think about all these kinds of questions, then make your size choice based on your full vision.
5. Stick To Your Budget
Many people become absorbed in finding the right place for their company that stretching the budget starts happening too often. The truth is, it’s almost never worth it, especially when it’s your first commercial lease or purchase. For start-ups, it’s vital to create and maintain a reasonable budget, which includes finances for a location and all the expenses that may come with it.
When working out your budget, consider all the regular bills, wages and expenses you will be paying, in addition to rent or mortgage costs. You want this space to help you improve and grow your business, so you should work out what level of investment this needs. You may need to tweak your budget based on your expendable income but once you have a number, stick to it.
Finding the right space will take time but by keeping these hints in mind, you are bound to find the right space for your company.
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Newly middle-aged wife of 1, Mom of 3, Grandma of 2. A professional blogger who has lived in 3 places since losing her home to a house fire in October 2018 with her husband. Becky appreciates being self-employed which has allowed her to work from 'anywhere'. Life is better when you can laugh. As you can tell by her Facebook page where she keeps the humor memes going daily. Becky looks forward to the upcoming new year. It will be fun to see what 2020 holds.