Moving into your First Office
Moving into your first office can be an exciting prospect. It marks an important milestone in the life of your business, but it will also mean committing to additional monthly costs and more responsibility.
Perhaps you've been working from home to keep costs down, or renting desk space from a virtual office provider and you now feel it's time to spread your wings, and your profit margin is now healthy enough to take on the added expense of dedicated premises.
Acquiring a dedicated space for your business will improve the professionalism of your business, improve your work-life balance and give you enough space to hire additional employees and host client meetings at your premises without feeling that you're stepping on anyone else's toes. It's important not to rush the process of finding your first office space, as there are many important things you need to consider along the way that will pose a real risk to your business if they are not thought-through properly in the early stages.
Here are few important considerations to help land the perfect first office:
Know what you're looking for
Have a clear idea about what type, size and style of office space you need before you start touring any properties. Important top-level things to consider are; how much you can afford, how long you want to lease the premises for (shorter is better for a small business) and identify the location of where you feel your business would be best situated.
Office Space Search
Once you are clear about what you're looking for, you can talk your requirements through with a Tenant Rep Broker who will start drawing up a shortlist of available properties that meet your criteria. It's critical not undertake this important part of the moving process alone.
Evaluate the Space
There are so many things you need to consider when choosing which space is right for you, and on face-value, it may seem like all the premises you view offer something different. Avoid getting bogged down with just the visual aspects and focus on the practical issues that are going to help you provide the best service level to clients. Check out this Office Space Checklist for a full list of items you need to consider.
Critical Legal Information
At first glance of your office lease, it might all appear to be straight-forward. You've also had a Tenant Rep Broker to negotiate these terms on your behalf - so it's all safe, right? Wrong! An office lease may contain small print, that is often crammed with confusing legal jargon. You'll therefore need to make sure you get professional legal advice from a Lawyer who specializes in real estate and office lease reviews.
Moving into your own leased space may mean that you have to source suppliers who are going to service your needs and help you run your business efficiently. These might include stationery and printing vendors, IT Solution Providers, catering and cleaning companies. Shop around for the best quote and scrutinize their service level agreements to ensure you get the best possible deal. Finally, don't get rushed into making any decision until you're fully comfortable with all the pros and cons.
For more information download the Golden Rules of Moving Office to help the move to your first office space go smoothly.
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