Are you a small business planning to relocate to a new location? Want to make sure that everything falls in place without having to exceed your budget? If yes, then you will have to keep take various important factors into consideration to ensure a successful office relocation. Let’s see what these factors are and why you need to focus on them:
#1: The Size of Your Office
The most common mistake that entrepreneurs make is that they overstretch on size plus budget when relocating office. However, your focus should be on finding an appropriately sized property that fulfills all of your business needs. Starting small is fine because you’ll always have room to move to a larger business space in the future if required.
It’s also a good idea to consider sharing your business space with another entrepreneur or company as it will help in saving costs and lowering the risk factor. Always keep in mind that reducing expenditure doesn’t mean that you go for cheapest property out there. Having a healthy, inspiring and productive work environment is also important.
#2: The New Office Location
Finding the right location for your office is important when it comes to shaping the future of your business. So before you go ahead and embark on your search for the right office location, think about your business needs and then prioritize them.
If your business deals in retail products/goods then it becomes imperative that you choose an office in a central location. But if your business doesn’t really need any prominent presence, you could look for a location that’s more economical. In short, your office location should be chosen according to your specific requirements.
#3: Your Budget
In order to plan a realistic budget try and talk to an office planning expert. Don’t forget to include a proper estimate of the different expenses related to staff, property, marketing and communication. Before you go ahead and finalize your office location, see to it that the total of all these costs aren’t exceeding your projected income. Also, don’t compromise on the important expenses just to lower your budget. For example, if your business in Jacksonville is relocating during the summer, you may want to consider humidity controlled storage for the office furniture. The combination of controlled humidity and temperature helps reduce the chance of mold and mildew growth, paper rot, metal corrosion, and other moisture related deterioration.
#4: Lease or License Agreement
When it comes to legal property contracts, you need an option that works the best for your business. License agreements are generally good for new businesses as they have changing needs. Such agreements happen to bind you for short-term and are much faster to sort out. They also incur minimal to zero legal fees.
Leases on the other hand happen to offer extensive accommodation rights. Besides that, leases demand a long, enduring commitment on the tenant’s part, which goes up to 25 years. The good thing about leases is that they offer more security, the rent is pre-agreed and you have the right to renew once the lease period ends.