When starting up your first business, there is a lot that needs to be considered. What is going to be your company’s name? How much money are you going to need to get started? And, where are you going to base your business? This post deals with the latter. Choosing your very first office location can seem like a difficult decision. After all, it’s not something that can immediately be reversed if you make the wrong call. But, if you follow the tips below, this shouldn’t happen.
- Choose the location wisely – One of the first decisions you need to make is where you are going to be based in terms of location. Think about your target market, and choose a location that is going to enable you to be close to them. You also need to think about your competition and where they are based. A strategic decision could be to set up in an area that is renowned for your specific service or product. It can be good to fall in line with industry expectations, especially if it gives you the ability to focus on your competitors.
- Read the small print – We cannot stress enough how important it is to read the small print. You need to determine exactly what is included in the rental price. Don’t simply assume that it is all-inclusive. There could be additional costs for contents insurance, meeting rooms, high-level Internet usage, and phone line rental, for example. Not only this, but you need to make sure you are aware of all the terms, especially those in regards to ending the contract.
- Consider your requirements – Think about what your business is going to need on a daily basis. Most start-up owners will opt for a serviced office like those found at londonoffices.com. With a serviced office, you can expect everything to be included in your rental agreement. Of course, what is included depends on the office space in question, but generally, this will cover the likes of a reliable phone system, a reception area, Internet access, storage, car parking, cabling, and telephone requirements.
- Understand your image – When choosing your first office, you really need to think about the image you are trying to put across. Everything is about branding in the current day and age. Your choice of office will say a lot about your company. In fact, you can find out what your office says about your brand at everybodylovesyourmoney.com. If you choose a cheap office, customers may worry that this is reflective of the service you provide, and they may be concerned about the stability of your business. On the other hand, they may question your rates if you choose to set up in an impressive city skyscraper. The best move is usually to tread the middle line.
- Determine your budget – Last but not least, you should never dive straight in without determining your budget. This is a recipe for disaster. You need to determine exactly how much you can afford to spend on your new office, and make sure you account for all of the costs that are involved. Nothing will sink your new business quicker than spending more money than you have.