Whether you're still starting or expanding your business, one of the most expensive assets that you'll own has to do with real estate: your office space. Like any other real estate investment, however, when properly chosen, this will always work to your advantage. Fortunately, building an office space may not be as expensive as one might think, especially if you look for alternative solutions like https://bmarkostructures.com/shipping-container-offices/.
Even if your business may face uncertainties of how long it may stay in the industry, at the end of the day, you've got a real estate asset to fall back on. This is an appreciating asset that's generally, always great for the pocket.
However, this also isn't to say that in selecting an office space, you can be lax about it. To ensure that you end up with an office space that suits that of your needs and preferences, a careful selection process is critical. Hence, the following pointers:
1. Don't Shy Away From Unconventional Offices
When you're looking for office space, don't shy away from unconventional offices. These are the spaces or types of real estate that aren't typically used for offices. But, with the right renovation or work to be done, it can be converted into an office.
This tip is especially beneficial for those of you that are now looking for larger office spaces. Whether you're going to buy one or rent a space, large office spaces can be quite expensive. But, if you take the time to look through unconventional offices, you may find cheaper, and even better options, to suit the needs of your business.
Common examples of real estate types that can serve as unconventional offices are the following:
If there are employees that don't need to report to work or can't report to work, you're not paying for their space, even when they aren't around. A co-working space also works very well as a flexible office space, if this is what you’re after.
2. Know, And Stick To How Much Space You Need
How much space you need will also be dependent on factors that only you can determine. Generally, this has to do with the employees that you've got to keep and the functions of your business. You'll also want your employees to feel as if they have enough room and space to move around. Don't keep them enclosed too long in a tight space.
A good rule of thumb to follow here is to have around 1,000 square feet for approximately four to six employees.
3. Talk To Your Property Manager
This section applies to those of you that have already been renting an existing office for a long time. Perhaps now your business has grown so much that you also need to expand, size-wise. But, buying your own office or real estate still isn't feasible as of the moment, so you're still leaning on the idea of leasing.
In this case, it's also a good idea to talk to your property manager. In most cases, they'll have options available for you. The advantage of asking your property manager first is that you've already got an existing professional relationship. Hence, it's also easier for you to negotiate the price, or for them to present you with better deals. The property manager, for their part, just wants to ensure that you stay with them, rather than lease from another provider instead.
With these tips enumerated, it's easy to conclude that finding and leasing a professional space can be both an exciting and stressful situation of your business life. Remember that the office space you selected can affect the productivity and efficiency of operations. Plus, because real estate, such as an office space, is an expensive one to own, it also isn't one that you can keep changing on a whim. With these tips, however, now you can also be closer to finding that office space that you know will work for your needs.