Office Objectives – How To Select Office Space That Aligns With Your Business Objectives

Office Objectives – How To Select Office Space That Aligns With Your Business Objectives
December 6, 2018 Eada Hudes
In Business

The key to finding long-term office space begins with doing an inventory of your own business’s needs. Office space comes in all sizes, types, and locations, and while some are more affordable than others, an office’s fit depends primarily on its usefulness to renters. To add more complication to the office space equation, businesses have to consider the costs with moving into certain locations.

If you lease space in a mostly suburban area, the rates might not be as expensive, depending on the area. However, leasing space anywhere in the city will translate into more expensive rates, and the closer you get to the downtown area, the rates climb. Finding the perfect office is not impossible, but with preparation, it is possible to find reasonable office space that meets your needs.   

Keep reading to learn more about how to find office space that aligns with your business’s objectives.

Growth

When considering office space, you want to take into consideration the potential for your office to grow. With more established businesses, you have an idea of exactly how much growth your business will experience in a year. However, if you do not have a track record, determining growth might be more difficult.

For start-ups and smaller businesses, one way to tackle this problem is to lease space temporarily with a serviced office. When it comes to providers, Servcorp’s office space is premium as they are one of the larger providers of serviced office spaces you’ll find in larger cities. They can provide your office space with a fully-furnished office and the amenities that go with your standard office. By leasing with a serviced office, you can give your business the chance to grow with a fit out that easily meet the demands of your business simply through modifying the contract. Furthermore, if you find the space meets your needs, then this temporary solution can always turn into a permanent one.

Size

Another major consideration relates to determining the size of the space. After looking at occupancy requirements, take into consideration the amount of room you might have left after including furniture and office equipment. These figures will let you know whether the space is appropriate for your business. Again, the size and the growth of your business will be a factor in determining whether the space is appropriate for your business as well.

Versatility

Versatility is important depending on the type of business you are operating. If you have to do a lot of promotional events as a part of your business, a space that does not interfere with the everyday business of your venture or of those in the space is probably more appropriate. If your office holds a lot of meetings, making sure there is a conference or meeting room is another consideration to make where versatility is concerned. The point is to find space that has a number of uses or you might find yourself constantly having to reserve space, at an added cost, when having to hold events.

Neighbourhood

Being in the right neighbourhood is more than about location, but it is about the people who will frequent the business. The right neighbourhood is going to be attracted to your business, and you will be able to benefit from the resources in the area, namely foot traffic. Offices near popular restaurants and shopping areas benefit from feeder foot traffic while offices in the downtown centres benefit from transit, government businesses, and other offices in the area.

Space Customised To Your Business’s Needs

Every office has a mission, and the space is a major influence on how business is transacted. For this reason, your space should ultimately have the type of versatility that allows you to function in the space for a long time. As your business’s needs change, your office should be flexible enough to work in, until you can at least find new space.

 

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