When relocating your business to a new office premises, or setting up for the first time, there are many variables to consider. All too often, companies will focus solely on the price; while finances are undeniably important and must be considered, there are various other factors that could cost you heavily if neglected.

Proximity to Key Employees

Your employees are the life-blood of your business; you can sign all the contracts you want, but fail to keep key members of staff happy and you may find yourself with nobody left to fulfil your clients’ needs. A long commute will not only cost your staff members more in terms of travel, but it can also lead to stress and general demotivation, which may force them to seek alternative employment. Considering their needs as much as your own when choosing your new location could be the difference between success and failure.

Proximity to Customers

Important though they are, employees aren’t the only people to consider when deciding upon your new
location. Particularly for B2B companies which require regular, face-to-face meetings with their clients, ensuring that the location is convenient for them to travel to will do a lot to help you keep their business. While you could save money by moving out of busy city areas into more removed locations, you have to weight this up against the cost of potential lost business if clients are unwilling to travel to you. Video conferencing does help to alleviate this problem to some extent in the modern working environment, but meeting in person is far more valuable.

Potential for Expansion

It’s not only current requirements that you must bear in mind when choosing a new office space; the potential for expansion is also vital, lest you end up stuck with inadequate resources further down the line. While you may not be able to shell out extra to ensure that you have additional space available from the beginning, you may be able to negotiate a shorter lease term or add a first right of negotiation clause to your contract, allowing you to easily acquire additional space as required with minimal fuss.

Parking Situation

The provision of adequate parking areas, as well as any potential cost to the company, customers or staff,
must be considered. Neither staff not client will be happy if the only option is to be ripped off at the multi-storey six blocks away, and that alone may be enough to lead to staff shortages and lost business. As such, it is recommended to look for locations with free, on-site parking. If parking space is particularly limited, it may be worth making arrangements with your workforce so as to allow clients access to more convenient spaces, thereby improving their perception of their time meeting with your company.

Public Transport Routes

While parking is certainly important, staff members and customers who do not drive can’t be neglected either. In the case of new employees, they should be aware of any travel arrangements they may have to make when they take on the job and factor that into their own plans, so this is less of an issue. For existing staff members, an inconvenient relocation may drive them away from the company. Similarly, if clients find your office unable to access without a car as public transport is limited, it may cost you their business.

Aesthetics and Architecture

Perception is highly important in business. A dirty office in a run-down building down a dark back alley doesn’t exactly scream ‘professional’, but it goes further than that. Aesthetics both interior and exterior will play a part in building your brand’s reputation in the eyes of visitors, from the colour schemes to the furniture choices to the architecture of the building itself. Adequate lighting is a must (preferably natural light), and the various benefits of a little plant life may surprise you.

Power of the Postcode

Depending upon the industry you are involved in, you may find that some postcodes are more appealing to potential customers than others. For example, those in scientific or academic industries note an improvement in company perception when based in Cambridge over other, less known regions, while financial services will be more at home in London. Factoring this into your plan from the beginning may have a larger impact than you realise.

Sam Bonson

Sam is an aspiring novelist with a passion for fantasy and crime thrillers. He is currently working as a content writer, journalist & editor in an attempt to expand his horizons.
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