5 things to think about before leasing an office

When you’re about to lease an office, you need to make careful decisions. Once you have signed the lease, you won’t be able to change your mind – likely, for at least a year. This means that you have to get it right first time. Here are five things to consider.

1. The location

How easy is it to get to your office – not just for you, but for employees and customers? Is there free parking on site? Are you close to public transport links such as airports, train stations, bus routes, and so on? Is there a motorway nearby? How far are you from major cities? You want to make sure that everyone can reach you easily, but it’s also important to be away from the traffic jams of a city centre.

Are you looking to lease an office?

Are you looking to lease an office?

2. The cost

Can you afford to pay your lease, plus any rates and tax you may need to pay, along with utilities? Think about your average turnover for the past few years, or predicted turnover if you are a start-up. Consider how much profit you will need to make to cover the lease, and whether it is realistic. Make sure to look for great deals – as you move outwards from a big city, prices will start to drop while still having good proximity to the city itself.

3. Your neighbours

Your neighbours could have a big impact on the success of your business! If you are in a residential area, you won’t get much footfall. A managed office building is a great place to find footfall from customers who are visiting businesses all around you. If your neighbours are all businesses, you might also get some extra custom from them and the chance to collaborate or cross-promote.

4. The facilities

What kind of extra facilities do you have access to on-site? You will need working toilets, a customer lift if you are above the ground floor, and access to the internet as well as the potential for phone services. After that, anything extra is a bonus. A café is a great place to grab refreshments, having gyms and other fitness services on-site will help you blow off steam, and of course loading docks and load-bearing lifts are great for retail and manufacturing businesses.

5. The space

Finally, is your office space ideally suited to you? Do you have the option to customise it, and is the space flexible according to your needs? Will you be able to upgrade to a larger space if you need to? These are all things to think about before you lock yourself in to a space that doesn’t quite suit your needs.

 

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