Posted by on Dec 4, 2017 in Business | 0 questions

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If you are looking for the perfect place to establish your business, there are many factors that need to be considered. After all, once you have bought or rented office space, it’s not easy to reverse this decision. With that in mind, let’s take a look at the pivotal factors you need to take into account.

There is only one place to begin, and this is with the location of the office or building you are considering. There are numerous factors that determine whether the location is a good one. Of course, you will want somewhere that is ideal for reaching your target consumer base. But, what is right for you in this regard? Do you want to be somewhere whereby there are other businesses in your industry? Or, do you want to look for an area where competition is low? You need to think about this carefully before proceeding.

You also need to think about the location in terms of convenience. Is it easy for your employees and clients to get there? Are there convenient public transport routes or is the only way to reach the property by car? If the latter applies, you need to be prepared for the fact that a number of employees may decide to look for a job elsewhere. If you want to retain your best talent, choosing a convenient location comes highly recommended. You should also inform your employees of the move as soon as possible. This will ensure that they can make alternate arrangements. They will also respect you a lot more for considering their needs.

Aside from this, having a full and clear picture of all of the costs entailed is pivotal. A lot of business owners make the mistake of underestimating the expenses of moving. Firstly, you will need to find a real estate agent with the experience and know-how to help you find the perfect premises for your company. You will also have the cost of physically moving, as well as transitioning your work from one place to another, i.e. dealing with data and handling any existing customers. Don’t forget about any of the equipment or furniture you need to buy, as well as potential ongoing costs. This includes everything from electricity and Internet bills to rent. Oh, and there are legal fees and taxes too!

Finally, you need to think about the future. While the office or building you are considering may be perfect for your needs right now, will it satisfy them in two year’s time? Moving again in such a short space of time could be chaos, so it’s always good to look for somewhere that gives your business the potential to grow.

So there you have it: some of the most important factors to consider when choosing the best base for your business. From the location to the demographics, make sure you research carefully and ensure the premises and area are right for you before you sign on the dotted line.