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Friday, October 26, 2012

Four keys to finding the right office space for your business


By Christina Adams

When you are running a business, you want to make sure that you are easily accessible. If you are not in a prominent location, your customers will not know where to find you and you will not generate any drive by traffic. The right location is essential to the success of your business. There are specific considerations that you want to keep in mind when you are searching for that perfect office space.

Location


If you rent an office space that is in a run down, sparse part of town, you cannot reasonably expect to get a lot of business. Location is half the importance of your business. Keeping this in mind, you want to pick a location that is in a busy area of town, with moderate traffic. Even if you do not offer walk in services, being visible will allow you to get your name out there.

Price


It is not worth sacrificing half your monthly budget for that prime corner space if you do not have the business to sustain it. Pricing is important and you want to remain within your budget without going overboard. You should only allot about 15-20% of your monthly budget towards rent or mortgage expenses for your office space.

Size matters


Depending on how many employees you have, you will want to rent or buy a space that is able to accommodate all of you. You want to be able to maneuver and not worry about running out of space. You should also rent a slightly bigger space than your needs allot for, if you can. This will give your business the room it needs to grow without making the office cramped.

Work with a real estate agent


Sometimes, it is not enough to scout out an office space on your own. Oftentimes, office or commercial space is not rented by an individual, but through a real estate office. Working with a real estate agent will open up the idea to your possibilities. In addition, once you give your specs to the agent, they will only show you properties that meet your needs – including your budget. This way, your search is made relatively simple; instead of difficult when you try to do it on your own.Searching out the right real estate space may take some time. Ideally, you should begin searching for your office space a few months before you plan to move in to give yourself that valuable time.


About the author: Christina Adams knows a thing or two about commercial real estate leasing, having worked in B2B real estate for nearly 10 years. She writes on behalf of ThinkBusinessSpace.com.

5 comments:

  1. You should keep all these factors in mind when trying to get a new office place for your business, make a budget plan and start working with it, choose a location where you can plenty of customers and don't go for big spaces when they are not necessary.

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  2. These are keys to making your business successful. Thank you for coming up with this worthwhile topic.

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  3. I am looking to start my new office this year and i think this will help a lot. I was looking for some good office space here, many people prefer office space for rent fort bonifacio beacause it is more near in our condo.

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  4. Your tips are useful. But if you are short of budget, have you ever thought of renting office spaces instead? It's a considerably cheaper alternative for your business.

    ReplyDelete