Relocating your office? Here’s a few tips to help you choose a new location.

Location

“Location, location, location.” We’ve all heard that famous phrase, which drives home just how important location is when choosing a space for your new office. You’ll need to ask questions like:

Can my clients get there without a hassle?

Can my employees get there easily?

What amenities are nearby that my employees can take advantage of (for example: coffee shop, walking path, shopping, fast-food)?

Will Location A be cheaper to get to than Location B?

Details such as the length of a commute will play a big role in whether they choose to stay with your company, and will affect their productivity and happiness. This is why it is extremely important to get input from your team when selecting a new space. 

Proximity to clients & events

This matters less in some industries than others, but companies facing pressure to provide on-demand client services, like a PR agency, might prioritize proximity to customers over other considerations.

Price
  1. Can I afford to pay a three-month rent deposit on this office right now?
  2. Are there any hidden costs? (Maintenance, the extra cost of parking, tolls, etc.)
  1. Is this office priced in line with similar office spaces in the area? Always do a quick comparison with other offices spaces in the area to make sure you’re getting value for money.
  2. Commercial space for rent is priced by dollar/sqft/year. For example, a 4,000 sqft space with an asking price of $45/sqft would be $90,000 a year, or $7,500 in rent every month. So, if you know how much space you need, which you can work out using a simple tool like a space calculator, you can start budgeting for what your business can afford.
Infrastructure

How much space do you need?

What layout would work best for your business? Can you conduct your business in an open plan environment, or do you need private offices for confidential client work?

Consider what amenities there are in the local area. If you frequently take clients out for lunch or coffee, are there good options close by?

Some other key infrastructure factors to consider when looking at office space include:

  • Technology (phone, internet, etc.)
  • Mail and delivery services
  • Reception services
  • Conference and meeting rooms
  • Accessibility
  • Kitchens and bathrooms
  • Parking and transit
Safety

Before you sign on the dotted line of an office lease, take some time to figure out how safe your potential new neighborhood is.

Check local crime data and talk to other local businesses in the area to discover the rates of break-ins, vandalism, and other crime in the area.

Competition

When looking at an office space location, take the time to discover whether your competition has already oversaturated the area.

For example, if you’re an accountant, run a web search or check online maps to see how many other accountants are operating in the same neighborhood.

Does this office send the right signal?

Think about the signal you want to send when you pick your location. Your office space will be much more than a collection of cubicles; it also will be a sign to others of how much money you’re making. “I’ve seen companies spend for a lavish space they’re very proud of. They invite clients to see it, and the clients wonder if they’re paying them too much for their services,” Riguardi says. “On the other hand, if you don’t spend enough, people may wonder about the financial health of your company.” -Entrerenuer.com

What is the parking situation? 

It’s important to consider the amount of parking available at your proposed location, as well as the potential cost to employees and customers.

If parking is tight, is there a place where employees can park so customers get the most convenient spaces? 

Enlist Professional Assistance

If you’re not sure where to start updating your office or just need more tips and advice, RI Group’s team of designers and office space advisors are here to help!

Give us a call: 800.427.5811 to discuss your project or email: info@rigroup-us.com to get started.

 

 

 

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