When you move offices into a certain area, there are things that you know you should look out for. First of all, you want to have enough space for your employees. Second of all, you want to be located in a good area. Most people don’t really think beyond this when they’re getting office space for lease. But if you’re planning to move your business to a certain area for the long term, there might be certain other things that you ought to consider.
- Is the area growing and developing? Sometimes, you might reject a certain area thinking that it’s not developed enough and won’t bring you enough clients. But if you do a little bit of research, you can find out if there are any new developments underway. Is there a plan to set up shops and restaurants in the area? Are any new buildings coming up there? If so, that area may not seem like a good place to set up offices now but in the long term, it will no doubt be a good idea. Plus, you’ll benefit from getting in early in the game when the rents are lower.
- Are you planning to expand? For many companies, expansion comes without any warning. The demand for their product or service increases and so they have to increase the supply as well. However, it is also possible to have planned expansion if you project into the future. Even if you can’t know for sure whether the expansion will actually take place, it helps to have a vision of where you want your company to go in the next ten years or so. If you are planning to expand, you’ll have to think about having enough space and whether the location you are currently considering will serve your needs through the process.
- Will your clientele change? If you are planning to expand, your clientele might end up changing in the next ten years or so. You might end up diversifying your firm and appealing to different demographics. Even if you don’t expand, you might decide to diversify anyway, if you seem to be losing clients in the demographic you currently target. And as your clientele changes, your expectations from an office space also change. You’ll need an office space that is conveniently located and makes a good impression on your future clients. Just one more thing to consider when getting office space for lease.
Contact us for more information on the things you should take into consideration when leasing office space.