3 Factors When Finding a New Office Space

Moving into a new home or office is one of life’s great stressors. Work moves can be especially trying, as there are so many factors in play. If you’re thinking of taking the plunge into finding new digs for your business, here are 3 important things to consider.

Location

It may be a cliché, but choosing the right location really does matter. Ideally, you’re going to find a space that is convenient for you and your team members to commute to each day; if employees have to spend too much time on their daily drive it can reduce their morale. Sometimes it’s not just distance that matters, but accessibility; being adjacent to major highways and public transportation is important as well. This is also a factor if you expect to host client meetings in your new office space, as you’ll want it to be easy for your visitors to get to you.

Consider, too, what amenities you’ll want nearby your business. For some, having a post office, bank or office supply store close at hand may be critical for making daily runs. For others, it might be important to have close dining options at which staff will be able to take their lunch breaks or hold meetings. It is also a good idea from a security standpoint to pick a location that is not isolated. Check with Utah commercial real estate brokers or in your area to help you find the right space.

Cost

Of course, a perfectly-located office space won’t be ideal if it doesn’t fit your budget. Before you begin looking at places, determine exactly how much you can afford and commit to sticking to that figure; just like with buying a home, it can be easy to fall in love with a space and be tempted to cast aside your budget with stars in your eyes. Remember that every penny that doesn’t go to rent can be reinvested in the growth of your company.

That being said, it’s important to have a realistic idea of what leases in your area run. It’s wise to consult real estate experts to get a feel for the going rate on business properties. You should also look into additional expenses that are likely to come with any space, such as the cost of electricity, phone and data, maintenance, etc. There may be charges specific to the location you pick, such as security fees or snow removal. Be sure to factor all of these things into your budget.

Size

Since monthly lease rates are based not just on location but also on square footage, you’ll also want to figure out how much space you’ll need. A key consideration is whether or not you expect to hire additional employees and/or expand the scope of your business in the next few years. If you know that you will need room to accommodate more desks, or perhaps warehouse or storage space, it may be wiser to find a spot that’s larger than what you currently need. Getting out of a lease and paying for an expensive move may not be worth what you will save in the short term by acquiring a smaller space.

Think also about the needs you have right now. Is a conference room critical? Will the space allow for enough private offices for your top employees? Do you need an onsite kitchen or breakroom as a perk for your team? It can be helpful to list out all of the dedicated areas you need or think you will need, then list them in order of priority. While it’s not always possible to find everything you’re looking for, the list can help you focus on what’s most important.

Finding new office space needn’t be a daunting task, and professionals are available to help you if it becomes too overwhelming. Stay focused on finding a well-located spot that suits your budget and gives you room to grow, then the rest will fall into place.

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