The 10 Best Things to Know
Before Opening Your Own Office
Digital platforms, social media marketing programs and shopping applications make starting businesses simple and stress-free. Individuals can use virtual systems to build their companies’ foundations. Over time, businesses may expand and require office spaces or storefronts.
Opening an office space may feel overwhelming and anxiety-provoking. Business owners may expand their education to increase their projects’ success. There are ten things company owners should explore before opening office spaces.
Employees are Returning to Office Spaces
Preparing business owners for office space development is essential. More employees are willing to return to the office as the pandemic’s intensity decreases. Employees believe office spaces improve collaboration, decision making and social connections.
One company found up to 80% of its employees would like to return to the office. C.E.O.s are developing inviting and productive offices to support their employees following the lockdown. Business owners can explore office space expansions or development to ensure a project’s success.
1. Know Your Needs
Owners should understand their needs before purchasing a new office space. They may identify precisely why they need a physical space for employees. Business owners can also determine the features their offices need.
Some CEOs search for larger office spaces to protect their employees’ health and well-being. They look for spaces large enough for social distancing and small enough to maintain cleanliness. Employees can contract germs and viruses through shared surfaces like keyboards and door handles.
Large office spaces reduce individuals’ interactions with shared surfaces. Business owners may also install efficient ventilation systems and hire routine cleaners to maintain cleanliness. Individuals may also define their budgets when defining their needs.
2. Location is Essential
The second area of consideration is location. Business owners may choose office space locations based on where their employees live. They also can consider their core customers’ demographics before purchasing office spaces.
Business owners may also explore the real estate market when investing in new offices. Real estate prices change depending on a building’s proximity to a city, highway, main road or an important structure. Finding the perfect location may take time and remaining optimistic may improve the process.
3. Lease or Purchase
Individuals may also decide whether to lease or purchase a building in the initial stages. Renting and buying offices have their advantages and disadvantages. Both options offer business flexibility, which benefits owners.
Purchasing a building increases an owner’s ability to renovate and change the space. Renting an office allows individuals to walk away from an incompatible property. Leasing and purchasing buildings also require different financial demands.
It is more expensive to purchase an office space, which makes it less accessible to some business owners. Renting a space requires few upfront costs but landlords can increase rent at any point. Business owners may assess the pros and cons of renting and purchasing before investing in an office space.
4. Consider Using a Commercial Real Estate Agent
Business owners may feel confused and overwhelmed when navigating the commercial real estate market. Some CEOs transitioning from remote work may be experiencing the market for the first time. Working with a commercial real estate agent can help business owners find affordable and compatible workspaces.
Agents also identify and resolve conflicts throughout the closing process. They may pick up on hidden costs and other contract-related issues to minimize financial losses. Business owners can find talented agents by exploring their credentials and previous experience.
5. Plan for Expansions
Individuals may also plan for business expansions when searching for office spaces. Most owners hope to expand their companies and reach a larger audience of consumers. Customers generally want their favorite businesses to grow also and create more storefronts.
Business owners may plan for expansion when looking for office spaces. They can purchase buildings with space for renovations. Or they may invest in short-term rental spaces and minimize expansion limitations.
6. Determine Your Moving Costs
Owners may also determine their moving costs before investing in an office space. Moving offices or designing first-time spaces can be expensive. Moving furniture, electronics, appliances and other materials requires professional services.
Individuals can determine their office set-up costs by contacting a professional mover. They may also calculate the number of hours interrupting the workday. Business owners may deduct profits from their moving time and calculate it into their costs.
7. Explore Hidden Fees
Business owners can make the most of their office space budgets by watching out for hidden fees. Some property owners hide damage to increase the cost of their buildings. Individuals may receive multiple inspections before purchasing office spaces to minimize repair or maintenance fees.
They can also avoid hidden fees by thoroughly reading rental agreements. Business owners may search for properties with set rental rates in their contracts to avoid unexpected changes. They may also determine monthly utility costs and what fees landlords include in rent.
Some landlords include monthly water costs and trash removal fees in rent. Others fail to identify who pays for additional fees. Finding a property owner who includes utility costs in their rental agreement may eliminate hidden costs.
8. Obtain Essential Furniture
CEOs may also consider what furniture items are essential to their new office spaces. Some individuals overspend on furniture, which takes away from their moving budget. Other business owners under-purchase goods and interfere with their employees’ work productivity.
The type of furniture business owners invest in can directly impact their employees’ health and well-being. Many CEOs add ergonomic chairs to their new office spaces because of their physical health benefits. The chair design promotes good posture, which influences alertness and engagement.
Some business owners also invest in adjustable standing desks to support their employees’ well-being. Standing up and moving throughout the day promotes good mental health. Individuals may also purchase multi-person office desks if businesses require group work and regular staff meetings.
Business owners may define their projected staff sizes for the coming years before investing in furniture. Filling new office spaces with the right amount of furniture can improve productivity and a company’s general success.
9. Help Employees Transition
Another consideration before opening an office space is employee transition training. Business owners can ensure the ease of their moves by designing relearning programs. Individuals may assess the adult learning principles before creating training courses.
The programs can include real-world applications to prepare employees for in-office work. Creating effective training programs may also help individuals transition away from remote work. The transition is challenging for some employees and requires additional support.
10. Switch Over Your Services
The last thing to consider when opening an office is services and utilities. If business owners move their office spaces, they must switch over their phone, electricity, water, WiFi and other services. Individuals can begin the transition by listing their monthly utilities.
Creating a list may help business owners cover all their bases. They may also update their google business accounts to include their new address.
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Announce Your Move
Business owners can announce their moves after finding new properties and setting up their spaces. They may unveil their new office spaces to customers using social media, email campaigns and physical fliers. Individuals may collaborate with other business owners in their new neighborhoods to improve marketing.
Owners can also create accessible maps to help customers get to their new office spaces. Developing opening promotions may also attract customers and expand a business. After spreading the word about an opening, business owners can watch their profits increase.
About the Author
Ava Roman (she/her) is the Managing Editor of Revivalist, a women’s lifestyle magazine that empowers women to live their most authentic life. When Ava is not writing you'll find her in a yoga class, advocating for body positivity, whipping up something delicious in the kitchen, or smashing the patriarchy.