Your business has been growing by leaps and bounds. You’re killing the game financially. Your marketing team has been crushing its KPIs. And your customers love everything about what you’re doing.
Lately, however, business has been so good that you’ve been looking around your cramped office lately and thinking, “Wow. I really need to start looking for a new office space.”.
Is there anything you should keep in mind when you’re choosing commercial space for lease? Are there any tips and tricks that you can use to avoid making a business-critical mistake?
We’ve put together a list of top tips that you can use to explore your office location options with ease. Keep reading if you want to learn more about choosing the right office space for your business.
1. Think About Your Long-Term Goals and Ambitions
In many cases, it’s not unusual for homebuyers to fall into two general categories:
Those who are looking for the “forever home” where they’ll raise their kids, bring home puppies, and host family dinners. And then there are those who are in the market for a starter home that will let them pursue a career and comfortably own their own space without any of the property taxes or the maintenance costs involved with maintaining a larger house, like finding reliable office cleaners like ThinkFM.
Believe it or not, businesses in search of office space are often not too different from these homebuyers. And what that means in practice is that being able to answer questions like “Should we get a short lease or a longer lease?” and “How much room do we need?” often boils down to whether or not you have a clear idea of where you plan to take your business next.
2. Decide if You Want to Buy or Rent
The whole renting vs. buying office space debate is one that probably isn’t going to stop any time soon. On the one hand, rental work space offer the flexibility to adapt to changing needs, cost-effectiveness, access to amenities, and opportunities for networking and collaboration. They provide a dynamic and supportive environment that can contribute to the growth and success of individuals and businesses. If a better space opens up or if you find that you’re not entirely happy with the features of your building, you only have to deal with it for the rest of your lease. Plus, if you fall in love enough that you’re willing to commit to a medium-term to longer-term lease, you get the benefits of a fairly permanent location without having to get locked into owning.
It’s well-known in investment circles that the value of your underlying assets, like say, your building or your office suites, can add to the overall net worth of your business. In addition, when you own your own space, making upgrades or improving your building isn’t something that you have to run through your landlord — you can just make the changes yourself.
If you have a good idea of which way you’re leaning on the whole rent or buy issue, sniffing out the right properties becomes a lot easier on you, your management team, and your office space budget.
3. Get More Space Than You Think You’ll Need
Have you ever moved out of a relatively small space like a dorm or an apartment and wondered how the heck you’ve managed to keep such a huge amount of stuff within such a tiny area?
When you’ve got servers, tech, equipment, furniture, and conference rooms that you’re trying to maintain, there’s always going to be a need for more storage room and more space to accommodate future growth.
It goes without saying that in the 80s or the 90s, maintaining an office building just made sense. Heck, Google’s massive campuses are famous for their big-time perks. But in a world where businesses are often employing people remotely while others are allowing staff to work flexible hours, different office sizes can still be equally effective for the same business.
However, the major benefit offered by securing more space is that you don’t have to relocate at the first sign of growth. In a way, getting more space than you need is a strategy that makes it possible for you to give your offices a chance to grow with your business.
4. Don’t Forget the Smaller Details
When you’re looking for office space, there are major, can’t-miss details like the location that always have to be considered. If the office is in a centralized spot but your staff has to beat off other drivers with sticks to get parking space, that’s an issue that could very well be an entry in the “cons” section of your pros and cons list.
But in addition to those big picture concerns, there are a number of tiny specifics that can also derail your overall productivity in a big way. That’s why it’s important to pay special attention to your office space layout.
Are there windows? Do you have tons of sunlight and a pleasant view? Is there a horrific draft going through your building that could potentially freeze a person’s fingers off when the air conditioning is going?
Companies like Austin Office Space make it easier to vet properties based on the details that matter to you. in addition, the space and location filters make it possible for you to create a list of suitable spaces in record time.
Choosing Office Space Might Be Easier Than You Think
If you’re based in a city that has a ton of commercial real estate available, it can feel like you’re drowning in options for office space. And when you’ve got a small business that you’re trying to grow into a medium-level or larger-scale enterprise, your office space can have a major impact on your ability to take your company in the right direction.
When you make a point of watching for the smaller details while also checking to see if the property you’re looking at can accommodate your long-term business goals, choosing office space that makes you and your team say, “Yes! We’ve found it!” is a lot more straightforward than it might seem at first glance.
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