Opening a new office is one of the critical decisions. Many new startup companies consider it an important moment of growth and their ideas become reality. Establishment of a new office is not a simple task and it may be costly. Here are some of the important things needed to consider before taking your new move.
Is Now theTime?
Shifting into a new office is one of the biggest commitments both in the context of money and emotional investment. Determine what is the right time. In case your company can no longer sustain itself physically without operation or moving into the office or you need to hire a staff to fulfill the customer need and the expansion of the working has dire need. In similar ways, if you think you are not efficient enough to conduct meetings with clients virtually or that your workforce is spread but you need to communicate physically is the right decision to make. Furthermore, company growth and productivity play their part. If you are exceeding growth every quarter then you will be in a suitable position.
Key Factor Need to Consider Before Renting First Office Space
There are number of the key point that need serious consideration before renting first office space that listed below:
Think About the Location
There is no ideal space for an office setting. This basically depends upon what type of your business is running out and its unique needs. For instance, your business is regarding retail and shipping. You need to rent an office near the good road links. If it sells on the high streets it will be a viable option. However, consideration of client requirements to come into the office is how it is suitable for the transport proximity. An office space that is hard to get in and off the beaten track means a long commute and a demoralized workforce.
Watch Out for Hidden Costs
Hidden costs are applied when you choose a new office for the first time. Contracts, repairs, and moving costs are all applicable, and energy consumption and water are all should be considered in your budget estimation. When you move into a new office space you will directly follow the terms of the contract the people before you follow which are usually costly. In addition, comparison of business energy prices and you will find a less expensive deal that best works according to your needs.
Compare Prices For Supplies
Comparing prices of different offers gives you a variety of options and helps you to secure cost-effective space in the first place. The space must include computers, and telephones all add up and are counted as basic equipment like chairs and desks. Comparison of prices helps you to save prices. However, new office equipment usually comes in at massively cheaper rates than brand new and some of it will barely have been used. Choose around, compare prices and you will have a fully equipped office in time for a fraction of the price.
Go Green Early
The green precise means your existing working spaces are evolving following the laborious and costly process that makes them green. If you are a new start-up and it’s your new office space you have the perfect opportunity to proceed. The structure of a paperless office is simple by just using cloud computing and you can cut the energy expenses with the installation of a thermostat and energy-saving lighting bulbs. Some of the start-ups go even further by adopting smaller screens and automatic power saving advanced technology like solar energy that cuts down your energy expenses.
Leave Room to Grow
Choosing an office as your first step during the time of your extended growth. From this perspective, it pays close attention to the future. The key factor required is to move all over again in a year because your business is growing rapidly. Same as spending on an office that is large does not make sense and puts a financial burden that could be used for growth. It is very complex to manage them all. Be rational about your growth expectations and factor them into your decision-making process. However, future profit margin and growth estimation help to offer you little information forecasts.