Choosing a property site for a new office is not an easy choice. Whether you’re launching a new business, relocating, or expanding into a new location, multiple factors come into play in this process. Knowing a handful of these factors helps you start seeing all the potential angles that might apply to your plans.
Location
This might be the biggest determining factor. If you’re open to the public for business, then you need to be near a major route or transit connection your customer demographic uses. Tailoring your location to your customer is a recipe for success. A good rule of thumb is to place your office in a place where people will see it frequently. If you position yourself right, you may generate organic traffic.
Commute
Even if you’re not open to the public and just run a private office, then your employee commute times and distances need to be accounted for. Dealing more with millennials might mean being in more urban areas, whereas baby boomers and Gen-Xers are more likely to be in the suburbs. So keep the local roads in mind when choosing a location. For example, what is the freeway like near the office at rush hour? Is the nearby exit usually full of cars? Or is it empty?
Restaurants
Additionally, you will want to consider your proximity to restaurants and other such locations. Having a short commute to lunch will make your employees happier and more refreshed after lunch. And the happier they are, the more productive they are.
Costs
Renting/owning versus constructing a new building are two very different animals. In both cases, you need to account for secondary costs. Property taxes, utilities, groundskeeping, maintenance, and upkeep will all add up to your recurring costs. So make sure you have all that you need in your budget.
Parking
In addition, you also need plenty of parking for everyone who is coming and going to your office on a regular basis. More parking can mean more customers. And with more parking, your employees will be better able to find a good spot. While small, parking can have a large difference on the appeal of your office.
Flooding
Sometimes, you might find a property site with a low asking price that excites you. However, you also need to do your due diligence on a property to see what it would really be like. If it’s on a flood plain, or just prone to collecting water when it rains, then you might face higher insurance and maintenance costs. However, dewatering pumps can help you remove the water before and during construction or even when your facility is open. Dewatering pumps are industrial-scale pumps designed to remove excess water from the ground.
Connections
Make sure to check the location for service. Low bars or slow internet can make or break your business. Slow internet can cause frustration and downtime for your employees. Find a place with high-speed internet and high bars. Finding a location with good connectivity will help you make quick transactions over the internet. Another benefit is more reliable calls. You don’t want to lose those important calls that come your way.
Building
Something to keep in mind is the structure itself. Are you looking to sublease? If so what are your neighbors like? If you are subleasing you may want to learn more about the landlord. Does the building come with perks of its own? What security measures are in place already?
If you are looking for a building of your own you will want to make sure that it is brightly lit and welcoming. More natural light will help keep morale up. You will want to consider walkways as well. Can the hallways accommodate the traffic you anticipate?
Another topic is accessibility. Does the building have the necessary ramps and doors? Make sure your building is inviting and accessible to everyone. How far are workers from the bathroom? The Elevator? Make sure your building is accommodating and welcoming to all.
Future
One thing to consider when choosing a location for your new office is the rate of development. This office will likely be yours for 5-10 years. What will the area look like after that time? Think about what the roads will look like. Is the area booming with new offices being built all the time? Or is it in the middle of nowhere relatively? Sometimes a new office can be out of the way if you think that development will make its way out to your office. Just remember that this office should still be there in the future. It’s important to take what changes may occur into consideration.
Security/Safety
You need to look at both your property and the area around it. If you’re choosing a site that’s already been constructed, does it have security technology available? Look for things such as swipe cards and cameras. Also, look into statistics about crime rates in the area. See if you can determine potential response times by law enforcement, firemen, and EMS.
At the end of the day, your new office property site needs to balance the needs of employees and potential customers. It has to serve your overall business needs well, but you also have to keep your employees in mind. If you’re open to the public, then you need to keep their best interests in mind at all times too.