Your Office and Accounting Business:
How To Find the Right Office Space for Your Business
So you’ve finally decided that you’re ready to move away from home, at least, your business is. But now the question is, where do you look for the right commercial office space, and what, exactly, do you look for? Finding the place to move your business is important, and as they say in real estate a crucial element of the space you choose is location, location, location. Here are six things to remember as you look.
1. Don’t compromise accessibility for a lower rentWhile it’s important to find a place that doesn’t drain your budget, a cheap office will do you no good if people can’t find it. When you look for a good location, accessibility is crucial. You also want to place yourself in an appealing environment around other businesses that draw your target market. When you find a potential space, look at the tenants you’ll be sharing it with, and look at neighboring businesses. Are they the types of establishments you’d like to rub shoulders with? Regardless of how wonderful your business might be potential clients will be weary of walking through your front door if it’s sandwiched between a comic book store and a pawn shop.
2. Consider all your optionsThere are countless options to consider when looking for a commercial office space.Do you want to rent, lease, or buy the office?Remember that owning real estate offers certain tax benefits that might save you money in the end.But if you’re not ready to commit to a particular space quite yet, renting might be the best option.And if you’re the only one who will use the space initially, consider sharing a suite with other businesses.Sometimes these fully equipped business suites provide occupants with access to copy machines, internet, fax and phone services, which may lighten the blow of various startup cost.Or you can sublet an office from a business which has extra, unused space.
3. Plan for your futureSometimes it’s difficult to plan for business growth.But before you sign any paperwork, you need to anticipate how much you expect your business to expand.If you lease an office space for 5 years and your business booms in just two, you’re stuck for three years in a space that’s too small for your needs.Or the opposite could occur; you could anticipate great growth only to find yourself alone in a large and expensive office space.So while you need to look for an office that suits your current needs, you should also anticipate future success and how to accommodate it.
4. Pay attention to the store front and the office layoutThe saying goes, “Never judge a book by its cover.”And while that’s a valuable adage to live by, the truth is that most people make snap judgments based on appearances all the time.A dumpy storefront will cause many individuals to think twice before walking through your door and enlisting your services.Look at what the storefront will communicate.
Also be sure the office layout suits your needs. Do you need space for a receptionist or other employees? How will the furniture be arranged? Will the space create the type of mood you want clients and potential clients to enjoy? Are you interested in an open space or do you want a structured environment with cubicles? Know what you want before you start looking. And remember that while it’s good to anticipate future growth, you don’t want to pay for more space than you actually need. You should plan for 200 square feet of space per employee.
5. Consider your commuteWhen looking for a traditional full-time job, the commute is an important element to consider, just as it should be when looking for a new office space. Because you’ll be spending a lot of time in your office, it’s important to consider how long it will take you to get there. You don’t want to spend any more time on the road than necessary. How much time are you willing to spend commuting in order to get the office space you want?
6. Calculate additional costsRent isn’t the only cost to consider when renting, leasing, or buying an office space. Do a little research to determine how much utilities will cost. Ask your neighbors about any hidden costs they may be aware of. Budgeting for your new office space will be much easier if you’re aware of all the costs.
But what is the most important thing to do as you look for an office space? Enjoy this exciting time in your business! Knowing what to look for can make the process much easier, and more fun.
“Take What You Have and Make It Better” is just one of 9 principles that will make your business more profitable. Allen Bostrom, president of Universal Accounting Center , has written the book In the Black: 9 Principles to Make Your Business Profitable to help small business owners like you succeed. If this one principle has helped you, order the book to read 8 more tried and true principles that you can apply immediately! For less than $20, you can take the necessary steps to build a more lucrative business today.
