Buying Your Company’s First Office: A Guide

Investing in your company’s first office is a big step for any business, and it’s one you need to get right. There are lots of considerations when it comes to choosing the perfect office, so take your time, and make sure you get it right. 

Buying Your Company's First Office

Here’s your guide to buying your company’s first office. 

Location Is Key

 

One of the first things you need to consider is the location of your new offices. This will vary depending on your business needs, but you always want to consider factors such as market competition, transport links, and workforce availability within the area. 

You might get a great deal to set up in a certain location, but if it means your staff struggle to get there, then it’s going to cost you in other ways. For example, your staff turnover rate may rise. These are all little details you need to think about, and location is key. 

Understand Your Budget 

 

Your budget is always going to play a big part in your decision. It’s important you don’t overextend yourself with this decision, and have set a sensible budget.

While the right office can improve your business performance through added efficiency, it’s important to balance this fact with the realities. Some businesses get tempted into more expensive premises because of the prestige, when in reality, this adds little value to their business operations.

Obviously, you also need to take things like furnishing your office into account when considering your budget. You will need to provide your employees with things like desks and chairs so that they are able to productively and comfortably work. Using companies like Office Monster for this will keep costs down, but nevertheless, they need to be factored into the budget.

Understand your budget and choose your offices, furniture and equipment accordingly.

Sort Your Finances

 

Make sure you’ve got your finances in place early, so there are no surprises when you come to sign on the dotted line. 

If you need a business loan to help you with cashflow, then look at a top provider like biz2credit.com and make sure you’ve explored all your options. The last thing you want is to fall behind on your payments, as it can have a big impact on your business. 

Get your finances in place early, and the transition will be much smoother. 

List Your Requirements

 

Every business has different needs, and there are all kinds of different office setups to reflect this. It goes without saying that you want your office to have as many of the things you do need, without you having to pay for the things you don’t need. 

 

Sit down and write out all the requirements your business has. Start with the essentials and work your way down in importance. When you have everything listed out, then it becomes much easier to understand exactly what it is you’re looking for. 

Know What You’re Getting 

 

These contracts aren’t always straight-forward, so it’s important to take the time to understand exactly what you’re paying, and what you’re getting for that money. 

You don’t want any nasty surprises after you sign, so make sure you’re working with professionals who have your best interests at heart. When you understand exactly what you’re paying for and what you can expect to receive, then you’re ready to pull the trigger and get your new offices set up.

Share This Post