Finding the right office space can be one of the most challenging and overwhelming tasks that a company faces. With leases that can run up to several years, it is extremely important that the location of your business doesn’t cost you any employees or clientele. For a company that signs on for the wrong space, it can be a major problem that they must deal with for the duration of the lease, and possibly longer.
Before you start shopping for business space, have a clear picture of your needs, wants, and price range for a space that meets your company’s requirements. Businesses should consider these three factors before signing on the dotted line.
Amenities (lunch spots, coffee houses, happy hour)
Are there places nearby where employees can buy lunch and run errands? Find an office space close to a bank, pharmacy, and shopping area (retail and food) to allow employees to have access and time to run errands before or after work, or during lunch, and still be able to eat.
Are there places where you could take clients for drinks or a meal? If you plan to host events or clients and will depend on catering or other location venues, consider the distance to your favorite places and the willingness of clients to travel to that location.
If the location/rent seems cheap, there's often a good reason, and you could be getting what you pay for. Is the area safe? Your employees and clients will feel safer being at the office if the area has a good reputation. Consider the route people will need to travel to and from the office, especially if some employees travel by foot or public transportation.
Access (traffic, transportation, parking)
Consider how close the nearest subway, railroad, and major interstate are—as well as bus, bicycle, and car routes.
How easy is the commute? Consider where your clients and employees live and whether the space is convenient for them. Map their various commutes to work; if you struggle to find convenient paths for most of them, perhaps that space is not the best location. A long, expensive commute may push them to seek employment or services elsewhere.
Consider the accessibility of the office. If your business is located on a busy street, how easy is it for traffic to get in and out of your parking lot? Is there an abundance of traffic on the street that may affect travel time? Is there enough parking for both customers and employees? Be sure to monitor the potential location at various times to see how traffic fluctuates.
A lot of hard work and careful consideration goes into finding the right location for a business. It may be tempting to devote your energy to more creative tasks (like developing a logo or improving product), but remember that none of those details will matter if your clients and employees aren’t willing to make the commute or if your rent is too expensive. Put in the time and effort now to find the best location and give your business a strong foundation for success.
And now that you have a list of requirements you are looking for in a new office location, it's time to find out what is available. Using the right knowledgeable and dependable real estate agent will be a huge help.
Sky Investments is a property management and real estate company for commercial real estate properties located around the Dallas Fort Worth area in Texas. Contact Sky Investments for more information at 972-771-7577 or via email to firstname.lastname@example.org.