Your business is booming, thanks to your hard work and dedication. But, now you’re outgrowing your office space. Looking for a new place can be overwhelming, but it helps if you narrow your choices by looking at key factors.
Choose a Decent Location
It’s not a myth—when it comes to real estate, location is the most important factor. If your work is done entirely in-house, and you don’t have clients or customers visiting, then the office space should be in a convenient location for you and your employees.
But, if accommodating or attracting customers is important, you’ll need to find a site in a neighborhood that fits your type of business. You may need a parking lot or nearby convenient parking. An office building, shopping complex, or busy downtown area near restaurants, coffee shops, banks, and other amenities might be best for you.
Look at a Non-Traditional Space
A non-traditional space might be a great choice for some businesses. In an area that’s transitioning from residential to commercial, you may be able to find an older house to convert to office space. Many buildings such as warehouses, schools, and abandoned big box stores are being repurposed for business spaces.
Some non-traditional office spaces will need renovation to suit your purposes, so figure that into your budget. If it’s an older building, you will need to plan ahead to keep your new office safe and secure. Painting concrete floors can provide protection from mold, water and other elements. Make sure windows, doors, and the roof are water tight.
Consider Square Footage
A prime consideration when choosing new office space is the square footage you need. Generally, the cost to buy or lease space is based on total square footage. You’ll want to compare the going rates in the areas you are considering to make sure you’re getting a good deal.
A good rule of thumb is to plan 150 square feet per employee. That can vary, though depending on whether you choose an open office plan or you need offices for privacy. You also need a kitchen area, restrooms, conference rooms, and storage.
Moving your business to a new office location is an important decision. It can be easier if you know what to look for and what choices are available to you. Well-chosen, your new business office will serve you well for years to come.
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