What To Consider Before You Invest In New Office Space

Investing in office space is a big deal for businesses. Not only does it cost a lot of money, but it also signals your future intent. It shows you and the rest of the industry that you are there to stay, and that you are going to be a success. But, before you can reap the rewards of owning office space, you need to choose the right solution. The wrong building could be the death knell for your firm, and that is something you want to avoid. Fortunately, you only need to consider a few factors before you sign on the dotted line. If you take the following into consideration, you should end up with the best possible office space.

‘Do I Need It?’

It sounds like a stupid question, but it isn’t a stupid question. In fact, it is a clever one because lots of business owners make rash decisions with regards to their offices. The main one is that they invest in offices that they don’t need. Or, they invest in ones that are above their budget. The fact is that you might not need to move into your offices yet. It is possible to run a successful firm from the comfort of your home or a coffee shop. All you need is an internet connection and a drive to succeed. Even if you don’t think that it looks professional, you can hire a PO Box. The box acts as a business address for any correspondence so that it looks like you aren’t a home-based company. And, it doesn’t cost as much as a lease!

Image By: Owen Moore
Image By: Owen Moore

Rent Or Buy?

The next question you need to consider is whether to rent or buy. Buying is a good idea if you want to save money. But, it is only a good idea if you plan on staying there for the duration. Otherwise, it will cost you a lot of money for a five-year lease. And, there is the price to consider. Buying is an expensive venture and one that most businesses can’t afford. On the whole, renting or leasing is a good idea. It is cheaper, and it gives you more flexibility. Say you grow quicker than you thought, you can move within a month or two. Plus, you can move to wherever the best location is at the time. For more pros and cons, go to http://sbinformation.about.com.


Obviously, the price of the office space will dictate whether it is a good idea. If you don’t have the money, for example, you should never invest in office space. It is better to bide your time and wait for a better opportunity than to get into debt. However, you also have to think about the hidden costs. No one is saying that the realtor will hide costs on purpose, but you might not know they exist in the first place. To stop any costs from surprising you, it is a good idea to hire a professional broker to break down the deal. Then, they can show you all the expenses involved in the deal. With that information, you will know whether you have the cash or not to make the deal happen.

Image By: PAT Test North East
Image By: PAT Test North East

Health And Safety

The building should be safe enough to move into because it is a legal requirement. But, it might not be up to your standards. It is always something that you need to consider because it can cost you in the long run. Any building that doesn’t have the most up to date equipment could mean that you can’t react to any hazards when they occur. It also means that you can’t keep your staff safe should there be a fire, say. Before you agree to a deal, you should check out ECSCorrosion.com. They take care of the due diligence with regards to fire safety and a new property. A fire is just one hazard that can occur in the workplace, so it is a good idea to cover every base. For those of you that don’t want to leave a stone unturned, there are firms that deal with health and safety on a more comprehensive level.


You need to pick a space that is convenient for everyone from your staff to your clients and customers. Businesses that don’t are the ones that lose out on business as their customers won’t travel out of their way for many products. Instead, they will shop around the central areas and find what they need there before trying plan B. the only thing you have to worry about with a central location is the price. Firms pay a lot of money to lease office space in the city center, so it doesn’t come cheap. However, the price isn’t much compared to the money you will make with a high street location.



A central location will also improve your image within the industry. Only the big players lease offices in the hub of the city, and that will reflect in your image. A prime spot on real estate will enhance your reputation better than any piece of PR. Customers will start to take notice, as will clients that never knew your name before. An office on the edge of town will only confirm that you are a small time player that doesn’t matter. Perception is everything in business, and the right offices give off the perception that you need taking seriously.

The Layout

Finally, think about the layout and how it will affect employee performance. The right working conditions will make staff more productive, which in turn will raise sales and revenue. But, you have to get the environment perfect before that starts to happen. Otherwise, your workforce will come into work with the same attitude as normal. If the office doesn’t look like you can change it something productive, it is worth reconsidering. Okay, it won’t look like the finished article when you view it, but there are telltale signs. A lack of windows, for example, is a bad sign. A lack of windows means it is more like a prison cell than an office.

If you think about the above before you make a final decision, you will end up with the best office solution.


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