Finding an appropriate office space is an integral part of any company’s growth. Whether the majority of your workforce is feeling cooped in a small space or struggling to cope with the demands of the new working conditions in a post-pandemic world, switching up your office space can be a great way to spark creativity and boost productivity.
If you’re ready to move your business on to new pastures, the good news is that there are plenty of resources available to help you do just that. On that note, here are some of the main options that you need to consider when finding your commercial business’ next office space, with a few hints and tips thrown in for good measure.
Seek Expert Assistance
To locate the ideal commercial space for your company, the first and most obvious step is to seek professional guidance. As you may be aware, locating a new office space can be a challenging process fraught with complications and numerous hoops to jump through. As a result, bringing in an expert or using a commercial real estate platform like Floorly (launching in 2022), is a great way to make the whole process go more smoothly.
With Floorly, you are given the luxury of being able to browse through thousands of available units all over the world, all from the comfort of your computer. In fact, there will be available spaces in over 2000 cities around the world, so no matter where you’re located (or what region you want to move your business to), you will be able to find something to match your needs.
One interesting feature of Floorly’s service is the ability to observe competitor bids in real-time. Rather than operating in the dark and sending off bids to a real estate agent, you can view the current competitor bids, which means you can alter your offers accordingly and hopefully secure a better deal in the process.
If the bids are low, there’s no need to trump the current bid by a massive margin. Conversely, if all of the current bids are out of your price range, you can save yourself time and energy by crossing that property off your list and moving on to something new. This level of transparency is groundbreaking in the commercial leasing space, and to be frank, it’s about time we saw some innovation in the industry.
Of course, realtors are still a great option, if that’s what you would prefer – but times are changing. As technology continues to make our lives easier, things like searching for commercial real estate are becoming more straightforward and painless than ever before. Remember, cutting out the middleman means more cost savings for you and your company.
Choose The Right Location For Your Office
The location of your office has a significant impact on the potential for future business success. When looking for an office, keep the following in mind:
- Where do your employees live?
Make sure that you choose a site that is accessible to all of your staff. If a comparable option is available closer to where your employees reside but is slightly more expensive, don’t skimp out to the detriment of your workforce.
- Client convenience
If your business relies on face-to-face contact with your clients, you must factor in their ease of travel. If your office is located out in the sticks with poor transport links, then you may find it hard to persuade clients to make the trip, harming your bottom line. Furthermore, it makes no sense to lease office space in the suburbs if you’re targeting upper-class folks in a metropolis – just another thing to keep in mind.
- Nearby amenities
While securing the right talent for your business is one thing, retaining them is a whole other ball game. With this in mind, you should try to find an office space that has access to transit or parking, proximity to food, a pleasing aesthetic, and modern building amenities.
- Lease term
Small businesses in the early phases of growth should choose a lease with a shorter term. If you sign a long-term lease and your company grows, you’ll most likely need to expand your office space before long, which means you’ll be stuck paying for a place that doesn’t meet your demands.
Before you sign your name on the dotted line, it is important to understand the costs involved in leasing a commercial office space. According to Austin Tenant Advisors, the most important factor to consider is the rent (obviously), which will make up the most significant portion of the lease price but don’t forget about the other fees such as common area maintenance, property insurance, utilities, and janitorial services. Sometimes these are included in the price of rent, but sometimes they are not – make sure you do your research.
If you haven’t already, reach out to an accountant and draw up a budget. After all, you don’t want your new office lease to put you and your business under any unnecessary pressure. Sitting down with an accountant will give you a better idea of what you can afford, and which office spaces are within your price range. That will help to narrow down your search and bring you one step closer to finding your dream space.
Whether you run a small firm, a larger corporation, or are a solo entrepreneur, there are many factors to mull over when searching for a workspace that works for your particular company. In general, you need to carefully consider the needs of your clients and the needs of your employees since these are the two components that keep your business operations ticking over. These days, you are simply spoiled for choice when finding a commercial office space. With tools such as Floorly and the wide availability of co-working spaces and hot-desking solutions, it’s simply a matter of refining your search and finding what works best for you.
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