The choice to start up an office may be a daunting and tricky task that you may now need to make. Despite it being a highly exciting time, it is something that you need to get right or you could end up costing yourself a lot of money. To help you get things right, this guide has been put together to help you through the process of getting your first office sorted, helping you make the best decisions to turn your investment into a success.
One of the most important tasks that ensures the success of an office investment is to start with the budget. Knowing what you can and can’t afford is crucial so you need to ensure what will be needed to setup an office without overstretching yourself. Things like locations will of course come into this but you first need to know how much you have to play around with before you can make that decision. You need to include things such as rent, billings as well as expenses to name a few things so start by writing out a detailed spreadsheet of all possible expenses including staff wages!
Buying or Letting Your Office Space
If you’re at the point of purchasing your new space you will need to find somewhere that works with your budget and for your services/products. Commercial property can be an unfamiliar world but it is very different to residential letting or buying. Knowing how much space you need, mixed with how long you’d like to stay in the premises is crucial. If you’re a first-time buyer/letter, it is vital you speak with commercial property agents beforehand as they have the experience to correctly inform you on what you need to do as well as what you’ll need. There are a lot of emails to go alongside of getting a place, so you need the professionals to help ensure you get things right and you follow the correct procedure.
Regardless if you will be working at home or in office space outside your home, you will need office furniture. Some office furniture will be expensive and some may be inexpensive. Some will be necessary and other furniture will be nice-to-have. Here is where you need to be wise. Get enough to make your office look welcoming but don’t overspend on things that you don’t need. This goes for equipment too. You’ll be shocked out how much office equipment costs, things like computers, phones and even things like a fridge for the kitchen can set you back thousands of pounds. Get what you need to do the job then think about splashing out after you’ve made some more money.
Location, location, location
You now know you want an office space and the type of office you’re after, but where do you want it to be? You may have to make some compromises here, taking into consideration that you will probably be competing with other employers in the area. An ideal situation is to find a central location that’s easy to commute to.
It’s also worth considering stationing yourself near to a pool of skilled labour if your business requires this. When it comes to deciding on the office size, you really need to determine how much you expect the workforce to grow and what extra space is needed. However, if you’re on a short-term lease, it’s more sensible to find a space that fits your current workforce with just a couple more workstations. You can always move office at short notice if you really need to but just check with your commercial property management team first to see if it’s do-able within the terms of your contract.