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How to Decide on the Right Place for your Office Space

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When it's time to expand your business and set up an office location, one of the most important choices you face is where to locate your office. There are many factors to consider when choosing the right location to set up your office, and much will depend on the type of business you own. Before you look for the right office space, here are some things to consider to help you decide on the right place for your office location.

Cost

Obviously, the cost of buying or renting your office space is going to have to be within your budget constraints.  But there's more to the cost of doing business than just the monthly rent on the office space.  It is important to thoroughly research the taxes and regulatory situations in your desired location. What are the sales and income taxes and how might they affect your business? What about regulatory requirements - are they excessive or is this area business-friendly? If you plan to locate your business in the US, you can find out how individual states ranked with the Small Business and Entrepreneurship Council on policy measures and the various costs that impact small businesses.

Your Customers

Your business location needs to be where your customers are and be conveniently located for them. Consider traffic, parking and whether or not the area invites foot traffic.  How visible will your busines be in that location? 

Your Employees

Even if your type of business doesn't require customers to visit your location, you will have employees. Consider where your employees will be coming from, whether or not there will be a pool of qualified candidates for job openings and whether they will be able to easily commute to your location.

Other Businesses in the Area

If your business depends on attracting new customers, then the types of other businesses located near you is important. Consider what other retail and service businesses are in the area, what type of customers they draw, and whether or not they compliment or compete with your business's offerings. 

Once you've chosen the right place for your business to operate, contact us.  Whether you are looking to lease or to buy, we can help you find the right office space for your business venture.

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By: James Osgood

Office Leasing Tips , Office Relocation , Office Relocation Guides , Office Rental , Office Space , Tenant Representation

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