Having the right office is a crucial element of running a business. It’s also one of the first things that most entrepreneurs look at when setting up their next venture. Making the wrong decisions when looking at potential office options can have some very adverse long-term effects.
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You can reduce those risks by knowing more about what your needs are and the requirements of the business you’re operating.
Knowing what you need and what you can live without are going to be the key to choosing the best office space for you. Here’s what you should be considering when you’re looking at a new office, and some of the pitfalls that you should avoid.
Passing Trade
If you are launching a business that is going to rely on passing custom, then you want as central a location as possible.
You can have the best retail product in the world, but if you have no passing footfall, then nobody is going to get to see it.
This aspect of location is not going to be relevant for every business type, but for those in the retail sector, it’s going to be vital.
Supply and Demand
Always consider your proximity to your customers, your suppliers, and your competitors. Your distance from these essential components of your business will play a factor in your costs and your profits, so always address distance when looking at office properties.
When it comes to your competition, it may be wise to choose a base that is not too close. This is especially true if your competitors are already established.
Use your market research to identify your competition, and keep your distance from them geographically.
Accessibility
Your staff and your clients are going to need to come to your office. If they have to use poor roads or unreliable public transport, then your business is going to suffer.
Make sure that you have accessible parking, and also consider how easy it will be to accept deliveries. You will also need to identify any potential issues with access for disabled customers or team members.
The more aware you are of the access issues, the easier you will be able to find solutions. It may mean that you dismiss many of the properties that you look at first.
Running Costs
There are going to be unexpected costs when running an office, and those costs can have a heavy toll on your finances. You can eradicate that risk and lower your rental costs by making use of managed office spaces like those provided by www.thebrew.co.uk.
These are becoming hugely popular due to greater flexibility, easier scalability, and the benefits of a more central location.
All of the bills are in one lump sum, meaning less chance of an unexpected bill coming through, and they also mean you don’t have to spend money on office furniture or technologies.
Once you have identified the best office type and location, you’re one step closer to having a stronger business. Look at the more delicate details, and there will be less chance of an unexpected surprise or bill that will limit your potential for growth.
