Saturday, September 7, 2013
The main concern for anyone setting up a new business should be the financial savings how can you as a new business owner, get the best bang for your buck? Successful business owners will tell you that the more cost savings they were able to make through various decisions and concessions, the more money they had available to invest revenue into other important areas of their business, allowing their businesses to grow at a faster rate. Choosing the correct office for your new start-up is critically important, as you must have a suitable location to operate from. There are numerous commercial properties available for business owners.
Below I have listed some of the key considerations when choosing commercial office space:
How accessible is the office?
The ideal office space should be accessible to everyone that will need to use it. There are a number of laws in place to protect the rights of disabled customers and employees and these laws may require your business to make amendments to the office space if they aren’t already in place. Before choosing to buy or rent an office space, remember what the various requirements are and if the office meets them. If not, you should take a look at what needs to be changed and consider the financial implications involved with the improvements.
Consider shared office space
If working from home doesn’t satisfy your business requirement or you need to work outside of your home, then a shared office space is a fantastic way to obtain the space you need at a significantly lower monthly price. Share office space will not be suitable for every type of business, but if you are starting a business where you will require an office environment that is suitable for talking with clients or operating from, then this might be the perfect solution for your new business.
Location, location, location
When deciding on the best commercial property for your new business, consider the needs of your staff members, both current and future. Will the location be easy to access without a significant amount of traffic? Is there adequate parking? Is there adequate public transportation?
Are there competitors close by?
As a new startup you will need every bit of business you can get, are there competitors located nearby? Will they pose a threat to your business?
Is the office secure?
Security is one of the most important aspects of choosing an office space. The security of data and physical items such as computers and printers should be at the top of every business owners concerns. Any office that you consider should provide your business with adequate levels of security.
Is there room for future expansion?
When searching for a commercial office for your business, you should take into consideration your business needs for the future. While you may not be able to predict the fate of your business, will the office that you are considering have adequate space if your business expands? Or would you need to switch locations in order to grow?
Is it financially viable?
For most business owners, choosing office space all boils down to their financial budget, once you have set your budget and decided how much you would like to spend, you will then be able to identify the types of commercial properties that are available for your money.
- What are the standard rental costs?
- Could the rental costs increase in the near future?
- How much deposit is required?
- Cost of utility bills
- Will you be responsible for maintenance costs?
- What are the service charges?
This is a guest post by David at Quayside Estates Commercial Property Specialists, Quayside provide a number of bespoke property solutions to businesses throughout Pembrokeshire and West Wales.