When choosing where you’ll go, you should think about the nature and needs of your business, and whether your budget can stretch to that office location you’ve got your eye on. If you’ve currently got a home-based business and you’re expanding, you’ll need a more professional location where you can welcome clients and suppliers, and have much more space for your employees or to store stock.
However, this all comes at additional costs in terms of rent, insurance, utilities and transport. You’ll need to balance these costs against the added value you think permanent offices will bring to your business. It can be a major leap when it comes to finances, so if you’re not quite ready there are alternatives.
Rather than going straight from your home to permanent offices, it might be worth considering interim measures such as a short office lease, moving into a co-working space, or hiring meeting spaces by the hour as and when you need them.
How do you plan for growth and office space?
When you think about future growth, you need to consider what that will mean in terms of your staffing levels. If you plan to sell more products or services, will you need more sales staff, more technical staff or more customer service staff, for example? Always save a monthly budget for office supplies, personally I found these cougar paper deals perfect.
Also, the speed of your growth is also essential in planning for the type of premises you’ll need. If it’s gradual, you might not need a big, new office. If, however, you’re going on a recruitment drive, then you’ll need to ensure there’s room for all of your new recruits.
How do you decide where to buy office space?
When you’re buying office space, location can make a big difference. As with all markets, the most popular office locations will command higher costs, so you’ll first have to consider what your business can afford.
When considering an office location think about the practical impact it’ll have on your business. If you have employees, think about how they’ll get there and whether it’ll provide a positive working environment. Are there good road or public transport links and places to get lunch, for example? This sort of thing can have a real impact on your employee / office morale and might even impact staff turnover.
Think about the impression your location will have on clients and business contacts when they visit. You should also consider the availability of important services such as fast broadband, telephone, heating and security.