12 Sep How to Choose The Right Office Space Location
If you are looking to relocate your office, keep in mind that the location you choose plays a major role on your everyday business operations. There are so many factors that can influence your space decision. Here are a few factors that are absolutely crucial to the deciding-process:
Location
Ask yourself these four important questions:
- Can my clients get there without a hassle? If you leave an urban location for a cheaper space in the suburbs, consider whether the lower expenses will make up for the possible loss of clients. Even in the age of video conferencing and Skype, it’s important that face-to-face meetings are always feasible and manageable.
- Can my employees get there easily? Consider where your key employees live and whether the space is convenient for them. A long, expensive commute may push them to seek employment elsewhere. You’ll want to take expenses into account such as tolls and vehicle wear and tear.
- What is the parking situation? It’s important to consider the amount of parking available at your proposed location, as well as the potential cost to employees and customers.
- Is the office ADA compliant? Before choosing a building, make sure the landlord is responsible for compliance with the Americans with Disabilities Act.
Neighborhood
When you’re considering where to locate your business you should always consider your market segment. Maybe your clients are young professionals; maybe your target market is baby-boomers; perhaps you’re a service provider for other businesses. Whatever the case may be, consider whether the area you’re considering leasing office space in makes sense for you and the business. – BevMax Office Centers
- What’s close to the office? Is there a gym nearby? Coffee shop? After-work bar? Post office? Bank? Supermarket?
- What other businesses operate in this area? Is it in line with the industry I’m in? What competitors are nearby?
- How safe is it? Safety is also a consideration for your employees and customers. When visiting a site, look for how well-lit areas near to the office are, and availability of parking. If you are looking at a managed location, ask questions about the security arrangements. You will also want to consider how safe it will be in hazardous weather conditions.
- Proximity to clients & events. This matters less in some industries than others, but companies facing pressure to provide on-demand client services, like a PR agency, might prioritize proximity to customers over other considerations. Should the need for last-minute face-to-face meetings arise, walking distance or at most a 1-2 stop trip on the train is much easier to coordinate than a trip across town involving taxis and traffic.
Price
If you know how much space you need, which you can work out using our Space Visualizer services, you can start budgeting for what your business can afford.
Here are a few important questions to ask when considering how much to spend on your next office space:
- Can I afford to pay a three-month rent deposit on this office?
- Have I asked about any hidden costs? (Maintenance, the extra cost of parking, etc.)
- Is this office priced in line with similar office spaces in the area?
- How secure are the lease and rental rates?
The last thing you want is to get established in a space, then find at the end of your lease that your landlord is renting the space to someone else or jacking the rent way up.
Size
As a very general rule, it’s normally recommended to have 100-175 square feet per person. However, you know your business best. If your employees need bigger desks or more storage for example, then up this figure appropriately. Ask yourself these questions when looking for a new space:
- Will I have at least 100 square feet of floor space per person?
- Do I have room to grow staffing levels in line with growth projections?
- Do I have a dedicated space for meetings with clients?
- Are my employees going to be happy with their social/recreation areas?
- Does the space allow room for growth? “If you can’t afford to take extra space to give you room to grow, try to negotiate a shorter lease term or add language to the lease that gives you the first right of negotiation on any adjacent space that becomes vacant,” says Julie Clark, a broker with Commercial Space Advisors in Seattle and founder of SharedBusinessSpace.com, a national online directory.
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Your office is part of how you present your business to the world; you should think of your office space as a marketing tool. What do you want your office to tell your clients about you? As you look at office spaces, try to see it from your clients’ eyes.
Are you looking for a new office space? RI Group’s Office Space Advisors are here to help you find the perfect space. Speak with one of our experts today! Call us at 800.427.5811 or Email: info@rigroup-us.com
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