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Very few startups in 2017 start with a physical office space from day one. It can take months, even years, of toil before the work of your company pays off enough to produce enough money to rent a space. Which is why when you - finally - do, you want the process of moving to a physical space to be as successful as possible.
After all, how long can your business continue to thrive with you working out of your spare bedroom?
Commercial Property Agents
Firstly, if you are unsure of anything regarding commercial property then finding an agent might be the best option for you and your business. They take the time to get to know your business, understand your needs and can even help you find the best property for your budget on the market.
Expert knowledge gives them an advantage over the average business owner simply trying to find his own office. Of course, you will have to pay upfront for this knowledge. But it may be an investment which pays off in the long run.
Location, Location, Location
Yes, this one word cannot be repeated enough when it comes to finding a new home for your business. The place that you choose to base your business can have long-lasting effects on your company, it can even determine if you will be successful when moving to a physical office.
A business can live and die on the merit of its location choice. As it is an important factor that affects footfall, clients being able to access your business and
How big of a space you need depends on a number of factors; stock, employees, equipment, growth factors and even the what you will be using the office for. Will it primarily be for your employees to work in, a space for client meetings or may you even be holding a seminar there from time to time? Consider your needs and then try to match the office spaces available to them.
Don’t make the mistake of going for the biggest space that you can currently afford. Doing so can stretch your budget and lead to pitfalls if your first few months are not as successful as you might have hoped. Giving yourself room to fail, in all aspects of business, is the best safety net that you can reward yourself.
The one big benefit of moving your office out of your home and into a business space is the ability to hire employees. Sure, you could hire an assistant to work at your kitchen counter. But, that hardly creates the most professional of environments and should be avoided at all costs.
Having a space to house your business and your staff is important, but so is hiring the kind of person that will help you to drive your business forward.
Health and Safety
Of course, when picking a new office space you also need to think about the basic health and safety factors. A good ventilation system, ensuring there are no exposed wires and that fire safety is strictly adhered to are all essential for the smooth-running of your business. Ensure that either you or your property agent makes these vital components to your first physical office search.
Create a Solid Budget
The amount of money that you need to house your business in a new location can be shocking for those that have been operating at home, at least at first. However, soon these costs tend to build up and if you are caught unaware you can soon be way out of your budget zone. Which is why you need to have a firm grasp of what that is before you start.
How much can you afford to spend each month? Are there any other costs - such as equipment, wages and sourcing products - that you also have to take into account? Basically, try to ensure that your outgoings sit comfortably below your incomings each month, even after you have included office bills in your estimations.
The bigger the gap between your outgoings and incomings, the more money you have to put towards company growth. So, starting in a small office even if it’s within your budget to go bigger can sometimes be a smart business move.
Overall, making the move to a physical office space can be an exciting next phase of your business. If you do it the right way. Just remember to keep a few of these key factors in mind when you do make the switch!