When choosing properties for the best office space, consideration has to be given to not only the present needs but the future as well. This can be a little challenging for the business owner. It puts them in the unenviable and difficult position of having to forecast the growth of the business so the office can accommodate it.

What is the Right Location?

One of the critical, significant considerations, is the location. Not every type of company is suited for all sites where business space is available. Another factor that will play into this part of the decision making is what available office space is there, once the location is decided upon. Some of the things that have to be thought about when choosing the right place are:

  • What competition is within the same area?
  • How convenient is it for employees to get to?
  • If the office is open to the public, how accessible is it for them?
  • What are the parking facilities going to be like?

What Are the Office Demands for the Business?

The type of business being operated is going to dictate the amount of office space needed. For example, companies that are in the manufacturing industry, may not require as much head office space as that which perhaps a service business, such as a large legal firm would need. The business owner has to carefully plan the office around the amount of space that will be required for the administrative duties of the business, as well as the number of staff.

The Staff Requirements

Staffing requirements are essential when determining how much office space is needed. This means the company has got to know how many employees will be on the staff register. Then, it also has to be determined, how much space will be utilised by management. If the office space is going to be the head office, there could be additional requirements. There may be a need for space for storage that has to be accounted for. If the staff feel cramped and uncomfortable in their work environment, it is going to affect their productivity. It could also lead to more staff turn over. All of these factors can affect the profit margin of the company. This is where future growth has to be forecast. If a company outgrows its space before the lease is up, it can create a difficult position for the business owner.

The Budget

The budget will be a big factor when it comes to choosing the property that is best suited for the type of office space needed. Some properties are offered on a lease with a building to suit. While there are others that have established office sites available. The business owner has to look at the cost factors. This is going to include looking at the terms of the lease, and any perks that are being offered as enticements, by the property renter.

Choosing the right property for the office space of any company, no matter what it’s size, is a big responsibility for the business owner. This usually requires a relatively long commitment by way of a lease. The business owner cannot afford to make a mistake when taking this decision. For this reason, choosing the office space should not be rushed into. The business owner must take the time to do their research correctly, to make sure the right choice is made.