Some questions to ask when looking for the right office...
Is there room for my company to grow?
Any company must consider not only its immediate needs, but also growth and other factors that could change space requirements over the course of the lease.
Is it the right location for my key employees?
Consider where your key employees live and whether the space is convenient for them. A long, expensive commute may push them to seek employment elsewhere.
Is the location convenient for clients?
You also want your office to be accessible to clients, as transportation costs continue to rise and people may not be as willing to travel to patronize your business. If you leave an urban location for a cheaper space in the suburbs, consider whether the lower expenses will make up for the possible loss of clients.
Does this office send the right signal?
Think about the signal you want to send when you pick your location. Your office space will be much more than a collection of cubicles; it also will be a sign to others of how much money you're making. "I've seen companies spend for a lavish space they're very proud of. They invite clients to see it, and the clients wonder if they're paying them too much for their services," Riguardi says. On the other hand, if you don't spend enough, people may wonder about the financial health of your company.
Are there hidden costs I'm not considering?
Calculate the full cost of the space–rent, utilities, construction costs, moving expenses, and other costs that may not be obvious. Because there can be hidden expenses, Riguardi recommends hiring a professional broker to help you understand your total outlay. "You have to look at the costs associated with the move, even restoration of the space you're moving from," he says
What is the parking situation?
It's important to consider the amount of parking available at your proposed location, as well as the potential cost to employees and customers. If parking is tight, is there a place where employees can park so customers get the most convenient spaces?