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Top 4 Factors to Consider When Choosing an Office Space

office space

Did you know that 50% of small businesses shut their doors after five years in business? With such a high percentage of businesses shutting down it is wise to learn more about choosing an office space before you make a final decision. The right location can sometimes make a huge difference for your business and profits.

Things to Consider When Choosing an Office Space

Keep reading to learn the top factors you want to take into consideration when looking at office space options.

1. Location, Location, Location

We have all heard that location will make a huge difference for where you buy your home or vacation home, and this is also true for your office space. You want to choose a place that your employees will be able to access easily during their morning commute. If you have to be near partners and your suppliers then you will have to take that into consideration as well.

You might also want to think about choosing a location that is near a few amenities such as places to eat, a convenience store, a gym, and maybe even a bistro where your employees can unwind after a long day at the office.

2. Budget

It is not wise to go over your budget when comparing building rental costs. Take a look at the current market cycle to see if it is a landlords market or a tenants market. When looking at office spaces make sure to read over everything to ensure there are no hidden costs that can make a huge difference later on.

Some landlords will offer incentives such as a free rent period, or cheaper rent if you do some of the monthly upkeep. Tenant Representation Services can help you with looking over your paperwork and ensuring that you get the best deal.

3. Size

You do not want to choose a space that is too small just because it fits within your budget. What is the point of renting office space that you can’t fit all of your employees and equipment in? We recommend having at least 70-80 sq ft per person that will be there.

Make sure you take the size of the desks into consideration and storage space as well.

4. Design

If your brand image is a key component of what you do then you have to take the design of the office into consideration. Make sure that the aesthetics are appealing to your stakeholders, employers, and clients (if they will be coming to your office location).

You want a design that your staff will feel comfortable in and welcome because they will spend a lot of hours working there.

Now You Know What to Look for When Choosing an Office Space

We hope that now that you know the top factors of choosing an office space, you can make an informed decision before you sign a contract and put money down on your new office space.

Did you find this blog post helpful? Keep browsing the rest of this section for our latest business tips.

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