When setting up a company, it can be difficult to predict how the business will grow and evolve. This unpredictability can make selecting a suitable office space challenging. Choosing a location for your business is an important step that needs to be considered carefully, since mistakes can be very costly. These four key questions can help you decide how much space to invest in.
1. How Big Is Your Business?
Do you intend to scale your business during the lease term? Review your business plan for potential employee growth. Based on your employees’ roles within the company, determine how much space each will need to perform his or her job adequately. Be sure to rent or purchase enough space to accommodate every job function. It’s better to be a little over than a little under with your projection, in order to prevent an unpleasant and unproductive work environment.
2. What Kind of Space Do You Need?
Do you need public transportation? What will you require for parking? Do you require access to loading? Do you have special IT requirements or any other specific needs? What building amenities are preferred – onsite gym, cafeteria, showers, loading docks, and/or storage space? Figure out what will work best for your business, and then restrict your search to properties that meet your specific needs.
3. What’s Your Ideal Work Setting?
Think about the environment your company requires to be more productive and fluid. Do you need the creative atmosphere of an open-space office or do you need a more traditional combination of offices and cubicles? Every company has special needs for work to flow smoothly. You need to determine the ideal collaborative environment for your company to find the right commercial real estate.
4. What Type of Building Do You Want?
If you want to make a good impression on your employees, clients, and potential recruits, you need to pay attention to the quality and design of the building. Does it match the vision of your company whether that’s cutting-edge, traditional, friendly or minimalist?
By answering all these questions, you can find the perfect office space for your business.