Now that you are all set to rule the market, here comes the crucial part – choosing the “perfect” office space. Whether you are new to the market or are looking for relocating from your current space, it is important to keep a few things in mind when taking the call.
The most ideal or suitable office space will bring numerous benefits, and in ways known or unknown. If you land on a property that best suits your needs, not only will you be able to save more but also can enhance workplace productivity, employee morale, client/customer satisfaction, etc.
It is important that you prioritize having a corporate space of work. For that, you may need to keep in mind a couple of things. Here are a few vital tips and advice that will help you in choosing the right office space.
As for a real estate property, the cost incurred in holding a space exists by default. You will have to define the cost you wish to invest in the potential office space. By defining the expenses of your per sq. ft. land, you are ensuring to not spend above and beyond your budget last minute. The capital investment remains tight as you highlight the limit of spending on the corporate set up.
The other expenses include available facilities and amenities within the property. Electricity bill, water bill, maintenance expenses, damage controls, etc., form a major part of the expenses. Some empty and available office spaces may come fully furnished or half occupied with furniture and facilities. These properties are more expensive than the ones that come empty. Choose what is best for you and the firm in the coming months or years.
The contract’s length might also be a varying factor in the cost of the property. If you are planning to hold on to the property for a long period, there is a good scope for negotiation.
Location plays a key role in choosing an office space. The location you choose must offer feasibility to your clients, employees, customers, etc. It depends on whether you wish to locate yourself in a prime area or a remote one.
Remote areas cause concerns in commuting due to a lack of infrastructure and transportation facilities. On the contrary, prime locations hamper the budget to a greater extent. Knowing where your competitors are located is also equally important when selecting a location.
Allocating desks and cubicles to employees, meeting rooms, conference rooms, play areas, cafeterias, etc., all of these amenities should be inclusive of the size of the company. Keep in mind the expansion that shall come as and when the company continues to grow and succeed.
Moreover, if you are struggling with the costs, is there a plausibility for co-working spaces? Co-working office spaces are when you share your office space with some other company by sharing one roof and expenses incurred under the same. Determine whether or not there is a scope for expansion or feasibility in sharing a space with some other firm in the coming years.
The number of employees, future employees who will join in the coming time, all of them must hold equal space and seating arrangement within the office setup. Every department must be allocated in a defined form to avoid confusion, conflicts, and loss of valuable employees in the future. Hence, choose an office space after you define the above-mentioned concerns.
A Questionable Interest
– Do we need a real estate developer for having an office space?
The answer will be yes. We do need the help of an expert in the field of real estate and hence, approaching a real estate development company will help you in making the right choice.