Factors to keep in mind while choosing a location for your office space5 years ago Shalini B
When you had just started, the small room converted into an office seemed good to go. But as your business grows so do all the resources involved in your startup and very soon the small space might not seem sufficient. Hunting for an office space can be quite a chore!
It is a daunting task to get a space as per your exact needs. Sometimes the office may be perfect but the rent is too high while at other times the space seems to be small for your goals. One thing you should remember is that an office space has a direct impact on the success or failure of your startup as an office space create a big impact on your customers, employees and investors too.
To help you make your office hunt easier, here are 5 tips that you can keep in mind while searching for an office for your startup –
#1: Square feet area should be ideal
Do not settle in for too small or too big a space. Plan ahead as to how many resources you will have in the near future and then plan your spacing accordingly. Studies suggest 125 to 225 sq.feet is ideal for a single person to use. So, plan accordingly.
#2: Consider options of leasing or co –working instead of buying
Based on your future plans and growth potentials consider options like leasing office space for a temporary purpose instead of purchasing the whole thing. If you think you do not need a whole office space and a little more extra space than your current space is sufficient you can consider the option of co-working as well.
Depending on your product/service/customer interaction, choose a location that fetches you maximum utilization of the resources that you need. For instance if your service demands that you have to stay in constant touch with your customers, choosing a locality in the out skirts of the city will not serve your purpose. So, choose the geographic location wisely as it will play a major role in the rise of your business.
#4: Consider space for unexpected growth
You never know when your startup may become a huge hit and your growth plans may just be advanced. Is your new office space ready to take these unexpected changes and sudden growths? Answering this question will help you choose your office space in a better way.
#5: Choose an office that is easily visible
You obviously don’t want your customer to stand just below your office and still not be able to locate it right? Ensure that your office location is good and the office is reasonably visible to your stakeholders.
While this might seem like the most obvious factor while choosing an office space, a lot of times it is not just the rent and even overheads like monthly maintenance and parking charges and other hidden costs matter and often burn a hole in the pocket. Planning your financial budgets is very essential so that you don’t end up overspending on the rent.
“Geography plays a major role in brand preferences” auotes Wharton professor, David Bell in his book ‘Location is (still) everything’. So if you want to develop a good brand image, choosing a visible office is quite an important factor.
An office space is a visible factor of your startup that all your stakeholders can walk into and see it. The better the space is, the better impression it creates on your customers and investors. So, ensure you make the best out of this opportunity to create a good impression by choosing a great office location. After all, it has to be used by you so do not settle in for anything less.