subject: Factors To Consider When Looking For Business Premises [print this page] Did you know that the success of a business is dependent on the location of the business? If you are in the market for an office space, consider the following.
Size
The size of an office premise is usually a very major factor especially for a business that is expanding or one that projects expansion. Due to the costs that are incurred as a business rents or buys property, it becomes very important that a business gets an office where it can stay for years, even with the projections in growth. The ideal size of the space should not be too large for your business needs. If too large, this will mean that you have a lot of space at your disposal and are paying for underutilized space. Also, the space should not be too small as to cramp up the environment and squeeze the business. Employees who work there will need ample space to move around. The space should also factor in equipment and potential customers. If your business is the type that attracts a lot of customers, you will have to ensure that there is ample space for them to served comfortably. However, if the business is a start-up, a small space is adequate and is also a means of cutting on costs.
Location
The location of a business is also another determinant of business success. The ideal location is one that is accessible to both the potential employers and employees of the business. This is a factor that promotes growth of the business and enables profit maximization. Moreover, the type of the business determines greatly where it should be located. Certain businesses thrive when there is a high flow of customers and therefore it needs to be in an area that is accessible to the customers, and preferably town centers. On the other hand, other businesses are ideal if placed in areas that are out of town. A good example of such a business is a manufacturing company. Most of these companies, due to the processes they conduct, emit a lot of waste into the atmosphere. Therefore, there is need for them to be as far from people as possible. Moreover, there is also the risk of noise pollution that if located in or near residential areas, can make these areas inhabitable.
Cost
Before you take up any space, it is only a matter of logic that you assess the cost the space will translate to the business. Settle for one that the business will comfortably afford without incurring losses, or being unable to pay at times. Usually, the quality of a business location has a direct relation to the cost. That is, the more expensive a space is, the classier it will be and vice versa. Whatever the cost of the premise you settle for, ensure that it has all the amenities that will make working there easy. It should have washrooms, security and clean tap water. Moreover, it should be a place that the employees are not scared to identify with, and one that the potential customers are comfortable with. When all is said and done, ensure that the space you get reflects both on your personal standards and those of the business!
