Find the Perfect Office

Remembering these useful tips from when looking for your new office, could prove invaluable for start up businesses or businesses looking to re-locate.

Understanding the financial constraints and nature of your business are the first factors to consider when relocating or expanding a business. Do not overstretch the business by taking on a property with an unrealistic rental payment plan.

Standard commercial leases may contain conditions and it is important to clarify, which, if any bills are included and what areas the contract requires the tenant (your business) to be responsible for. The length of a lease can vary and if your company is new, it may stifle growth to be locked into a location for a certain number of years. To make the location of your business work, it is important to have an office which projects the right image and accounts for the regular needs of the business. For example, if the business receives a lot of large deliveries a suitable space for delivering them will be required, equally; if it doesn’t there is no point in paying for an office which comes with a large loading bay. The same rational needs to be applied for meeting rooms; companies just starting out may not need a meeting room permanently available. A better use of resources might be to hire rooms as and when they are required. It is also a good idea to be aware of businesses in the surrounding area, as direct competition could affect your bottom line.

Another aspect to consider is whether to take a serviced office or not. Renting a serviced office allows the business to be up and running from the first day, instead of spending time setting up IT and communications systems. A serviced office will also allow businesses to budget, as monthly bills will be consistent and there are no costly dilapidations to attend to when the lease is up. However, if a non serviced office is something your business is considering, remember to account for lead in times for setting up and prepare to set aside a budget just in case something goes wrong. Finally, it is a good idea to consider the needs of your staff, for example proximity to main transport modes and how this will affect the daily commute.

David Hall, Associate Director at Forsyth comments: “Moving or expanding a business is not a simple decision and there are a variety of factors which need to be considered. The most obvious is to find a location which will suit your budget and reflect your business. One of the most time consuming aspects people seem to forget to factor in is the setting up of IT and communication systems. It is not uncommon for companies to experience teething problems when moving, which is one of the benefits of choosing a serviced office. It can also be easier for businesses in serviced buildings to budget as monthly outgoings are constant and any problems with services are paid for and sorted out by the office service provider. Finally, do not forget to consider the human aspect of your business, the work force, and consider the impact the move will make on your workforce’s commute.”

Posted: May 21, 2007