There are many factors to consider before you open a business. You should think about getting funding, setting your goals, and finding a blogger outreach agency to promote your brand. But what some fail to remember is that first, they must purchase office space, and this is not as easy as it sounds.
The office space should not only be convenient for you and your employees but also serve as the place where your dreams and plans will come to fruition. That being said, here are the 5 things you should consider when you buy office space.
1. Look For The Best Location
The first and most important consideration is the location of the office space. Now, keep in mind that this doesn’t only include the size of the building and the number of rooms – you will also have to consider the surrounding area.
For instance, are there any banks close to the spot? Will your employees have access to parking or public transportation? Can you find any restaurants nearby? There are many questions to find answers to when searching for office space, so don’t buy before doing your research.
2. Make Sure The Office is Big Enough
The size of the office is also relevant because you want to make sure it can fit all employees while giving everyone enough space to move around.
Ideally, you should have about 150-210 square feet available for each worker. Moreover, your employees should have a big desk, as well as storage space.
You should also think about rest space and meeting space.
3. Look at The Costs
Perhaps you’ve begun this journey on a budget, and now you want to make sure that you can afford the office space. Well, you should know that this type of property is more expensive than your regular apartment.
So, before purchasing any office space, think about whether you’ll be able to handle the rates if you’re taking a loan. Also, see if there are any hidden costs, and don’t forget about monthly payments like utility bills.
4. Ensure Utilities Are Working
You’ll need water, electricity, and Internet. Naturally, you want to make sure they all work before you settle into the new office space.
The best way to do this is by bringing an inspector, contractor and electrician to the location. If everything meets your standards, you can go on and take the location. If there are any problems, think about whether you can afford to spend money on reparations. In some cases, looking for a different space might be better.
5. Consider How Close Your Competitors Are
Settling too close to competitors might be the best or worst decision in the world, depending on your niche. In some cases, banks and similar businesses settle in the same area because they all deal with the same customer groups. Supply costs are also reduced in this case.
However, in other situations, settling in a location close to competitors can be bad news for your business.
Finding the best office space can influence the success of your business. Among others, consider the location, the size of the office, and the costs before settling for any space.