An ideal office space for your business can reduce stress, make you happier, and help you become more productive.
The perfect office space varies for different businesses. The number of factors surrounding the search for it can make the process quite daunting.
For instance, when searching for office space for rent, you need to consider the current needs of your business while also factoring in the future. An office is not just a place of work; it has to be cost-effective, boost your team morale, and complement your brand image.
Here are 5 easy steps to choose the ideal office space for your business:
1. Identify the best location for your business
This cannot be emphasized enough. The location of your office is critical for both employees and clients. Therefore, when choosing an office location, ensure it is closer to your employees’ homes and easily accessible for clients.
The location of your office space should also possess the required amenities for the smooth running of the business. It is also important that you evaluate the overall reputation and safety of the area as this may deter clients and also repel top talents.
Factors to consider when choosing an office location
- Client convenience: While your office location should be closer to employees’ homes, it should not be difficult for clients to access. Some companies open offices in different locations to ensure they are closer to their clients as much as possible.
- Competition and opportunities in the area: Networking is essential for any business growth. Ensure your office is located in an area where you can easily network with people and other businesses that can help propel your business growth. You should avoid locations that are saturated by competitors. Instead, move to an area where you can capture more market share and profitability.
- Access to talent: Your location can either attract or repel the best talents in the industry. Strategically locating your office in areas close to colleges and universities, for instance, can help attract fresh and ambitious talents looking for opportunities and making a difference.
- Reputation and brand association: Certain areas are known for hosting the best companies in a particular industry. Getting an office in such an area can boost your brand reputation and improve patronage from clients.
- Flexibility and scalability: Your office location should be able to handle not just today’s needs but those of the near future. For example, if you are looking at doubling your team soonest, the office location should not hinder you from attracting the needed talents.
2. Identify your needs
Employees spend most of their time at work, therefore, they need to be comfortable to be productive.
Office size
Confirm the total number of your team members and the number of clients you are likely to receive daily. Also, estimate the floor size you will need for the efficient operation of your business.
For instance, in addition to your number of employees, you will need to calculate the floor area the tools they will need to function would occupy.
While getting a bigger space than you currently need might be a good strategy that could aid the easy expansion of your team members, there is a risk that if you do not grow, may not eventually need the space, thereby resulting in a waste of money.
Amenities
The office space for your business should have all the necessary amenities you might need for your business. Also, consider the amenities your clients will need. For instance, you may need to provide a waiting area, snack bar, etc., for clients when they visit.
Other amenities you may need include:
- Stable and high-speed internet
- Private conference rooms
- Fully furnished offices
- Property management teams
- Printing and scanning services
3. Set a realistic budget
Examine your finances to determine what you can afford for a new office space for your business. The budget should cover the rent, utilities, maintenance, and any additional services you may need for the smooth running of your business.
Do not overspend on getting a space, as this may cripple your business. Instead, find a balance between cost and your business needs. Be realistic about what your business can afford at the moment.
You can always expand or change office locations in the future to compensate for your growth and business needs.
4. Examine the health and safety features
A poorly managed building can ruin your business as it can get you sued by both clients and employees.
Examine the health, safety, and security of the building before renting it. Check if there are proper measures in place in case of any emergency such as fire or earthquake.
Also, ensure the building has a reputable management team and it is regularly inspected.
5. Ask all the right questions
Moving into an office space for your business is beyond paying rent and other required bills. Read the lease or rent agreement thoroughly to understand what you are getting into.
Look out for hidden costs and possible future developments highlighted by the lease agreement, such as renewal options and how the services provided by the property management will be delivered.
Ask questions if you do not understand or are not comfortable with any paragraph of the contract.
