When looking for a new office space you want the best for your money, but you also have to consider other factors alongside the price tag. So that you can get the best for your business, we have created a list of things you should keep in mind when buying your next company property.
SubleasingSubleasing is ideal for an expanding business. The worst thing you can do for your company is to stifle growth by renting a space that doesn’t leave room for development. Subleasing gives you the option to buy a modest space and then move on to a larger building once your business is booming, meaning you can hire as many employees as you like in the long-term and encourage the expansion of your business, not stunt it.
Furthermore, there are a few extra advantages to subleasing including: you don’t have to worry about maintenance and you don’t have to settle for the property if another catches your eye.
LocationStriking a balance between cost and desirability is tricky but it’s important to make sure that the area is safe and accessible for both clients and employees. Unseen costs can throw you for a loop, so make sure you seek financial advice from an accountancy firm such as http://www.brookson.co.uk.
Finding the perfect location for your business can take a long time, so don’t rush, and do consider your options carefully.
Lock and KeyKeeping your business secure stops huge, sometimes fatal, losses from occurring. Consider the security available and note if you will have to make any adjustments. Automatic locks, visitor monitoring, security teams, car park lights, and floodlighting are all factors you need to contemplate for the safety of your employees and business.
If you’re subleasing, it’s important that the building has all these features built-in, whereas purchasing the property yourself may mean that you are happy to make your own security adjustments to upgrade your office space.
SizeObviously, you have to ensure that there is ample space for your employees to work, plus a little extra for growth. Based on your statistics, predict how far you will grow over the next few years and cater for that in your choice of property, as stunting your growth due to lack of space during your lease will be detrimental to your company.
FacilitiesCheck out what other businesses are around you. For example, if you run a fashion magazine, choosing a location near a shopping centre may be ideal for you. Analyse your priorities and see if you can happily situate yourself.
Also, look inwardly to your property and see if there is a canteen area or an on-site gym. If your company has extra perks, more applicants will be at your door, hoping to join your business. This competition ensures that you get the best employees to help your company thrive and you can start expanding out to even more prestigious areas as your profit margin increases.
This guest post has been written by Brit blogger Zoe, on behalf of contractor accountant specialists Brookson.