Posted by : Amanda Stein Sunday, April 28, 2013
Looking for an office space is a very challenging task because your final decision will reflects the brand and position of the business at present until future time. Take for example, one simple mistake like choosing proper and strategic location, if not well decided would probably cost you your people and or clients.
Lease terms for businesses commonly range from two to five years so be sure to do your research and brainstorming well before agreeing to any contracts.
Start by asking yourself the following questions:
In case of company growth, is expansion possible?
When deciding on behalf of the company, think not only what is needed to be done at the present time, also consider the upcoming changes that could have a direct effect during the lease term. If you cannot imagine your expansion on the said area or location, suggest and negotiate for a shorter period before signing up that agreement.
Are there hidden charges you failed to see?
Calculate the total cost of the lease-space, construction expenses, utilities, and other related cost that may not be too visible for you to notice. In short, make sure that you are aware of the total amount you will spend in moving.
Is the location ideal for the employees?
Take in consideration the welfare of your workers in terms of location. Is the place not too far? Is the way of transportation somehow convenient for your employees? The work distance and transportation expenses are factors that affect their decision on seeking employment. In the event of change of location, it's better to inform your employees first before making any move. This act will lessen the risk of losing a key staff member.
In terms of branding, does the location imply what the company represent?
Check what signal you are imparting to people when selecting a new place. It's not just about the space, it is also a status symbol. Take for example, a company that rent in a place not considered as a commercial but residential area. People may think about the financial status of the company.
Does the office area follow ADA rules and regulations?
See if the landlord's place complies with Americans with Disabilities Act (ADA). If not, think about the possible future cost or damages it may cost. Why take the risk?
Are you open for space sharing?
Sharing rental fee associated with the office space can save you a lot of money. Cost on common areas will be lower. Sharing space with a business that complements your industry is a good choice. But make sure that everything is written or an agreement of contract exists. Never forget to check on the lease expiration date just to make sure that the space you are offering are still available for a period of time.
Nettie Gray is a psychology graduate who is very much interested in crafts, social works, and handling family business. To share what she learned from doing business, she write online essay about small business finance.