Running a business out of any office space may seem like a good idea at least until things
get off ground, but studies show that putting significant thought into where and how your
office space should be, will affect your business outcome in ways that you cannot imagine.
It’s not uncommon for start-ups to begin in makeshift office spaces and then later, once
business starts booming, to move into bigger and better offices that are in keeping with the
company’s brand success. However, even the location of one’s start-up office space can be
the making or breaking of a company.
One key factor to consider when making the decision to work from a certain space is whom
the space is for. If you expect client meetings to happen at the office space, then it certainly
doesn’t make sense to operate from a one or two-room space. Clients want comfort and
privacy in their business dealings. So, having a small conference room, or at least a furnished
space that is separate from where the staff works is important.
So many start-ups now prefer to rent co-working spaces for their offices, because it also
affords the ability to be flexible with space and costs. As companies grow, co-working spaces
allow for addition of desks and cubicles, and the communal spaces within these places can
help with networking and events.
It is also vital to consider the location itself. People like to work in a place that is close to
other places of convenience such as eateries, parking spaces and even locales that are close
to the schools in the city so that parents can easily drop off and pick up their children. In
addition to this, the safety of the area and also the ease of access to both employees and
clients are important.
You might also want to think about finding a location that’s closer to your competition. It’s
always nice to be aware of what’s going on with them, such as what kind of events and
promotions they are hosting, and how many customers are walking through their doors. It is
also beneficial to be within proximity to your competition, so that customers have a choice
in whom they go with and alternatives to consider, nearby.
Finally, cost is a major factor. The best locations are pricey. But with the right co-working
space or shared space rented out, you can save a great deal on capital and also earn your
investment back through increased business. After all, it is better to spend slightly more and
be closer to your target market who will increase your revenue, than spending less on a
space that will not enable the growth of your business.
The decision to choose a new office space is often made harder by not considering the right
factors. Speak to people in the know, read up, and scout the best locations. Be selective. It
really does matter where you set up shop.
