You've buckled down and worked hard to figure out what your new business would be about and where your financing is coming from. Now that everything's in place, it's time to go looking for office space. If you want your business to succeed, it's important that your office space be suitable for the type of business you have and your budget. When you and your real estate agent and your mortgage broker go looking at properties, here are some of the criteria you should be judging them on in addition to what they cost.

Size

You can cut corners in your budget by downgrading to a smaller office, but you need to give it careful thought to make sure that it won't adversely affect your business. For example, if you're opening a fitness centre, you can't cram the workout machines too close to one another. Draw a diagram of what you will need in your office space and make tentative space size estimates to make sure the property will suit your purposes.

Location

Location is less of a concern if your office is merely doing administrative work, but if you plan on managing finances or selling sports equipment, you'd better get your office space in a highly visible, high traffic location to attract and retain clients. You may have to perform a balancing act between size and location, downgrading on one to have the other, as generally speaking office space is more expensive in the popular areas.

Functionality

Size is only one of the factors to consider when it comes to space. The second is how it is laid out. All office space can be altered through renovations, but these are expensive, so you should start out with the most suitable space you can find. For example, a huge bullpen setup wouldn't work for a pool closing company such as Atlantis Pools (click for more), and a store setup with cases and storerooms wouldn't be appropriate for someone starting a real estate business.

Expansion Potential

When you started out as a website designer you could work out of your spare bedroom at home, but now that you've grown you'll need proper office space. If you're expecting further growth of your business it makes sense to get office space that can be expanded instead of enduring another move. This might be a building with some extra lot space or a building with other units you can buy up if you need more room.




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