This is the first in a three part series on choosing the right office space for your business.
Whether you are considering expanding out of your home office or just relocating, there are many factors that go into the selection of your new office location even before you start the interior design.
The first rule in real estate is location, location, location. But before anything else, assess your budget. What can you afford to spend on a per square foot basis? How much square footage will that get you in your first, second or third choice neighborhood?
One of my clients was recently faced with an important office decision stay or relocate? Her rent was about to increase 30% one year into her lease. Her number one priority was her office location. She is an investment manager in a small town with a prestigious address. Her clients would expect nothing less. Her office offered her close proximity to home so that she could be home when her children get off the school bus. She could walk to the post office, the train to New York City where she commutes at least once a week to see clients and to downtown for lunch or a cup of coffee.
Getting your office space location right can make or break your business. If you are a retail store, you want to be located with other stores, near lots of foot traffic, restaurants etc. If you are a technology firm, it may be less important to be located down town depending upon the types of employees and clients you want to attract and retain. And then of course there is the precarious balance between budget and your idea of the perfect place.
Here are some thoughts to keep in mind as you start your search.
1. What kind of neighborhood is it? Will your employees feel safe leaving there at any hour? If the cost per square foot is low check to see if the neighborhood has a repuation for safety. Likewise how will your clients feel coming to that neighborhood? Is it easy to get to? What image does the town or city project? Is it hot and trendy? Traditional or family oriented? Urban or suburban?
Clients will make immediate judgements about your business simply from the address. My client needed her New Canaan, CT business address for that prestige. In Fairfield County, if you are a high end residential interior designer it doesn’t matter if you work from home but you must have a trendy town in your address – think Greenwich or Westport. If you are a corporate interior designer, having the Post Road or Stamford or Norwalk in your address is much better. And you are not nearly as likely to be working from home. Small boutiques fare best in small trendy towns while we expect to see our large corporate offices in our local cities.
2. Is your office readily accessible? What is the transportation like? Can your employees take a bus or a train to work? Is there ample parking for your employees and clients? Keep in mind that if you are interested in green initiatives that these questions take on even greater meaning. Can you provide a bus or van from the train station if you are located too far away? Assess your existing employees daily commute as it is now and compare it to your future location. Consider alternative travel routes for visitors and clients.
3. Which amenities are nearby? Are there local restaurants where your employees can have lunch or you can take a client for a meal? Is there a printer nearby for a last minute brochure? Can your assistant run out for office supplies if needed? Is there a local bank, pharmacy or grocery store, where your employees can run their errands at lunch or cash their paycheck? What about access to day care? Convenience buys lots of employee goodwill.
Next time join us for choosing the right building for your new office in part two of this series.
I am passionate about bringing my client’s brand to bear through the design of their space. Not only do we improve employees’ productivity and the functionality of your space but we ensure that your clients experience your company’s brand through your office environment.
To set up your complimentary consultation call for your new office, please contact us at email@example.com.
Love to hear from you in the comments – what would be your number one factor in choosing your ideal office location?
(all photos found on Pinterest and attributed and linked as above)