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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
Finding the Best Office Space for Your Business: 8 Expert Tips from Neighborhood Garage Door
Choosing the office space that’s right for your business can make the difference between the success or failure of your enterprise. Your business should be located in premises that your customers can easily access and so provide you a competitive advantage over your competitors.
“Location, location location” is the real estate agent’s mantra. But even more importantly, it should be the business owner’s too when drawing up a blueprint for their business.
Unfortunately, many startups open their business without thinking so much about the area and simply pick the first available and affordable space they can find. Here are 8 experts guides from Neighborhood Garage Door Services on how to avoid such a mistake when trying to pick the best office space for your business.
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Size
The size of the place you want to use for your business must provide you with enough space. Keep in mind that wherever you decide to have your business situated must have enough space to accommodate your equipment, staff, and wares.
Your selected business space should have a modern office layout with an ergonomic arrangement to improve productivity and innovation.
2. The building facilities
Many older buildings are not equipped with modern and high-tech facilities that a modern office needs for efficient and customer-satisfactory operation. Before you rent an office space for your business, check to see the property is sufficiently wired for your business’ electrical needs.
Also make sure they have adequate air conditioning and telecommunication service that can satisfy your current and future needs. If you’re not very sure, you should think about hiring a qualified engineer to verify for you before you pay for the business space.
3. Level of renovations required
When viewing probable locations to set up your business, be sure to also verify that the premises you have chosen will not be a drain on your finances. No matter the place you choose, you’ll need to invest in cleaning it up and fixing it up to suit your business purpose. This can be more expensive if the property is initially a total wreck. So, be careful to avoid picking a place that will require more renovation than you are willing to spend on.
4. Parking space
You should also think about your garage needs for your vehicles when scouting for a good office location. Good parking space is essential for both customers and employees.
In fact, some clients add ample parking to their criteria when deciding on a business place to visit. So, if your business environment doesn’t have provision for suitable parking, your customers may choose to visit a competitor with similar services as yours but also with a convenient parking.
After setting up the office space, your customers must be able to move around freely without feeling cramped. Your convenience is important, but your customers’ convenience is more important.
5. Accessibility by customers and suppliers
You clients/customers must be able to easily find and access the location of your business. The address should be difficult to locate and multiple forms of transportation should be able to access it.
Think about how simple it is for vehicles to move in and out of your selected location. Is it accessible by people with disabilities? If your business deals in good, will you be able to receive bulk supplies from delivery vans without stress? If the office space is on one of the higher levels of the building, are there elevators or escalators to avoid customers considering patronising you a hassle?
6. Presence of other services essential to the business
Before picking a location, you need to find out if the services essential to your business will be constantly available. For example, if you’re opening a hairdressing business, it will be detrimental to have your business situated in a structure that has no access to constant electricity or water supply. You need to check these services are available before settling on a location.
7. Competition
Sometimes, proximity of competition is a good thing, especially if your business is in an industry where customers do a lot of comparison shopping, such as entertainment and food. While competition is good for business, too much competition can also be bad for business.
If you have one or a couple of relatively stronger competition that provide the same services or goods as you in the same location, it could make life difficult for you and your marketing team.
However, if you feel your business is unique enough to outclass the competition in the location, you can take advantage of clients knowing the location as a market for the kind of goods or services you provide.
8. Demographics
There are two angles to the demographics question when deciding on a good location for your business. The first thing to consider is whether a good number of your target customers live in or close to the area. Do their age and lifestyle match your average target customer profile? While this factor may not be so important for some types of businesses, it is critical for a retailer and some service providers.
Also, ask yourself if the economic activity in the area is vibrant enough to support your target customers, and therefore your business? However, be cautious of communities or locations that are mostly dependent on just a particular industry, as your business would be severely affected in the event of a downturn.
Also, think about talent hire in relation to the location. Can you get trained and qualified workforce in the community or areas that are in proximity? Are there adequate housing, educational institutions, hospitals, culture, recreational facilities and other features that can attract the kind of workers and customers you envisage with their families to the community?
On a final note, whether you run an established business and looking for a new location for your main office or an outlet of your enterprise, or you’re a startup CEO, you must seriously think about these location-related factors when making a decision on the best office space for your business.
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