6 Considerations to Make When Choosing Your First Office
Thursday, July 12, 2018, 6:00 AM | Leave Comment
Picking the office for your first business is not an easy thing. To an outsider, this may seem like nothing more than picking your work environment, as well as the route you take each day on your commute, nonetheless, it’s much, much more.
It also determines your overhead, your reputation, the safety of your property and your overall ability to work.
From this perspective, picking the right place is definitely a task worth your full and undivided attention.
With that in mind, here are six things you should consider.
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The geographical location
The first thing you need to consider is definitely the geographical location of the office. By this, we mean the country, the state and the city but also the neighborhood and its surrounding.
Unless you plan to move half a continent away, you’ll be geographically restricted, which might sound bad but actually brings numerous benefits to the table (knowledge, experience and contacts).
It also affects the available talent pool, local business grants, regional taxes and work policies that will all come together to shape your business model.
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Type of location
Picking the right commercial space is far from easy, especially since it differs so much from the residential apartment seeking that we’ve all gotten used to.
The type of location in question will also be determined by the specific needs of your business. For instance, do you need just an office or a warehouse, as well? Moreover, you might also need a retail space which changes your perspective on this issue altogether.
Needless to say, this doesn’t only affect your criteria but also the cost of the lease you’re about to encounter.
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Specific needs of your business
As we mentioned in the previous section, your business may need some special facilities but this is only the tip of the iceberg of all that you need to consider.
Your Victoria-based business, for instance, may be so specific in nature that you won’t be able to find what you’re looking for in the original form.
Let’s say, your business requires special installations or a specific layout, which means that you’ll have to look for a specialized furniture removalist, as well as experts capable of making such alterations.
Keep in mind that not all cities (even business hubs) have these features available.
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The needs of your employees
Your employees, on the other hand, may have a different set of needs altogether. The number of your employees, for instance, dictates the size of the office space, as well as the quality, size and fixtures in your bathroom facilities.
Moreover, if you have people with disabilities in your employ, you may need to look for a place that can provide them with all the necessary equipment. Then, there’s the proximity of the place to various means of public transportation, as well as the safety of your staff, which somewhat depends on the neighborhood in which your company is situated.
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Cost
Now, we come to one of the most important parts regarding the choice of your first office – the cost of the place. It’s easy to fall into a trap of leasing out a small office for the cost reduction that such a move brings.
Still, what happens when your business starts growing? The cost of moving to another location will more than eat up all the money you’ve saved on your “more frugal headquarters”.
Therefore, it’s by far the best to plan for the future, even if it means paying more for the time being. After all, subleasing a part of your office is always an option.
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Prestige
Finally, you need to keep in mind that the location you pick might affect the prestige of your business. Having the exact same office downtown and on the outskirts of the city can make a massive difference in the cost.
Sure, your company benefits from the impression you make on the clients but you need to try and calculate just how good an ROI you stand to receive from this.
A reputation boost is of a huge assistance to your young company’s status, yet, can you afford such a boost in the first place? This is one of those questions that only you can answer.
At the end of the day, choosing your first office is actually not that hard, although some tasks are made more difficult by the lack of first-hand experience.
Luckily, this can be more than made up for by going through guides, tips and suggestions left by those who faced this difficulty before you. Proper research is the key to minimizing losses and maximizing efficiency.
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