Choosing the right location when you Move Office
Choosing the right location for your business is a crucial consideration, and getting the right balance between an affordable location and one which is going to support and enhance your business can be a real challenge.
Whether you are moving to an office close by in the same locality, or relocating to a different City or even State, now is a good opportunity to review the location of your office and consider the following factors when looking for new office space:
Office Rental Market
Office market rents vary from city to city, state to state. Be sure to do your homework and compare average rents, taxes, availability of workforce and economic incentives, and calculate whether anticipated profits justify the price of your potential location.
City or Suburbs
The industry in which your business operates will influence your choice of location. Do you really need to be in a prime business hub and city location where office rents will be at a premium? Or can your business operate just as well in a suburban location? Ideally, you need to be in close proximity to your clients, competitors, suppliers and business partners.
It is important to not only consider where the majority of your employees commute from, but also to take into account the kind of employees you wish to attract in the future; and choose a location that complements the caliber of your workforce.
Easy access to public transport routes, local bars, diners and eateries are all key considerations when it comes to choosing the right office location. An easily accessible office location will help attract the right workforce and make client interaction easy.
If you're sharing an office block with other occupiers, find out as much as you can about them. Are there possible business synergies or could they be competitors? Consider also more practical issues such as tidiness and noise issues that might affect the enjoyment of your tenure.
For more guidance on how to choose the right office space and location, use the FREE Office Space Checklist.
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