Today’s young entrepreneurs generally have a mindset that finding an office is much easy since it is much available in many places. Though it’s easy there are certain measures that have to be taken before selecting an office space. If not handled properly that will result in bad terms and affect their business.
DO’s and Don’ts
Do: Thorough market research
When you decide to move to a new office space you have to begin your research. This research should in a way that helps you compare with few shortlisted places you have already visited or in your schedule. You may be interested in the first choice itself but research confirms you that you have taken right place at right cost. What if you find a good place with more facilities at low cost later? So do have research on the market of office space.
Staying calm while looking for a change is more important. When you are in a hurry there are many chances to get failure. You cannot keep changing your business place very often. When you land in an uncomfortable zone in a hurry this is what the result will be. Also, it’s not a good sign of any business. So before moving to a new office place makes sure you have to spend a few numbers of years together and build a good relationship with clients, customers, and employees.
Do: Hire an agent
It’s always good to hire an agent while you are in the searching process. Because agents are much familiar with the market. They help you in finding the right place by understanding the nature of your business. Not only that they find your right place. They also help you in negotiating deals. What if the landlord already has an agent on his side and at that time you alone can’t win the deal. When two experts meet and have a discussion the proper rate will be finalized and it’s easy to make a closure.
Don’t: Choose the wrong location
Don’t be in a hurry and choose the wrong location. We know the location of the office plays an important for a good place. Your business place should be easily accessible for customers to reach. If your business is not for direct customers you are setting up an office for employees. So in that case for an example if you don’t provide food for them and there are no hotels nearby, here is where you will lack. You may lose good employees who make wonders for your business.
Do: Estimate the required office space
Please do calculate the area of space required before you are stepping into a new office. This will result in either a lack of space or extra space. Lack of space will cause uncomfortable and extra space will result in paying for unused space. Why so? If you want to sublease your office space it’s not possible at all office spaces. You have to take landlords permission which again takes your deal in a different path.
Don’t: Sign the lease before understanding
Sometimes if the search period has taken a long time, you may get tired and just like that sign the document without understanding the terms and conditions. This is where the whole process leads you to suffer in a later period. If you are not able to understand certain conditions ask your agent to have a look at it and explain it to you. This is will reduce a lot of headache for you in the future.
Do let us know your requirements. Don’t enter the market all alone.