Choosing an Office Space

choosing an office space

As a business owner, choosing an office space is one of the most important things you’re tasked with. A building must not only service all your company’s needs, but also serve as a reflection of you to potential clients. Below, myNOi has collected five questions to ask yourself before you lease an office space:

Is There Room for My Company to Expand?

When choosing an office space, make sure there’s room for even more growth in your future.
You’re likely looking at new office buildings because your business is growing in some capacity. That’s exciting! But when choosing an office space, make sure there’s room for even more growth in your future. You don’t want to repeat this whole process a year from now when you begin to feel crowded in your new building. Study your growth rate, and strike a sure-footed balance between your current, realistic needs and what your requirements for the future may be.

Is This the Right Location for My Clients?

choosing an office space - heavy foot traffic

This is obviously important for any business to consider. You, and your new office building, should be where your clients are! Moving to the metropolitan hub can be expensive, but if it brings you more work, it may be worth it. Alternatively, transferring out of the city can save you rent money every month, but that won’t help much if your clients don’t follow. Play with the numbers and look at the demographics to decide the best location for your business.

Is This the Right Location for my Employees?

Customers aren’t the only ones you’re trying to keep happy! Consider the needs of your employees too when choosing a new office space. You may have found the perfect location for yourself. But if it’s an hour-long commute for your employees everyday, you risk the chance of them walking out for a job closer to home. Find a location that makes your employees feel respected.

How’s the Parking Situation?

choosing an office space - parking

This is one that can slip by unnoticed when you’re looking at new buildings. A poor parking situation will make every morning at your office miserable, so spend time making sure there’s plenty of room for both clients and employees! If there’s a parking garage attached, negotiate with the landlord to see if they’ll lower the rate for you.

What are the First Impressions this Building with Give People About My Business?

Finally, you want your new office space to be an accurate representation of your company and your culture. How the building looks on the outside is important. But also consider what the interior layout says about your company. Do you want lots of unused space that conveys a sense of wanton luxury? A cramped cubicle farm that denotes razor sharp efficiency? An in-between?

Always consider what your office building says about you before signing the lease!

 

Use these tips when choosing an office space and you’re sure to find a good fit!

Learn more about investing in office buildings.

Download this myNOI article.

 

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