With office space being one of businesses biggest expenses it can sometimes be profitable to actually move premises, whether to downgrade in size, move away from or into a city, or to change location completely.
But what is actually involved in relocating your workplace? We’ve put together this handy guide that will hopefully leave you better informed about office relocation its 5 key factors:
Depending on your industry, where you locate your office can make or break your business. Paying more for a certain location could potentially be a wise investment, or relocating to a cheaper location could be better for your business if costs are already high. There are many factors involved in choosing a location, especially as it has the biggest impact on how much you end up paying for office space.
Be sure to know which location is best for your best, both in terms of how much it will end up costing you and how much you could make back from your new location. We recommend visiting several different agents try to find one with relevant experience and past success in relocating a business of your type.
Without going overboard, downsizing can seriously help reduce expenses whilst maintaining worker productivity. Through better office space planning and utilisation, you could save money not only from changing location, but also from taking this relocation as an opportunity to seek consultancy on how best to use your new space and, ultimately, end up paying a lot less than you were at your old premises.
Hidden expenses can build up during office relocations, so it’s imperative that you keep on top of them. There are many different costs to factor in – Stamp duty, IT, company registration, site surveys, etc. As many of us know with moving house, these can become one of the biggest expenses if not managed correctly.
As with finding the best location, an experienced agent can help not only find you the premises suited to your business but can also help save you money on these expenses through negotiation with the landlord. At the end of the day, they should be saving you money, not adding to your expenses.
As with planning sizing and office space usage; this relocation can be seen as a good opportunity to review your company culture and how it impacts your business objectives. What did your workers use in the previous workplace that helped provide value to the company? What spaces saw the best team collaboration? Were you using a traditional cubicle office setup before? Maybe you could benefit from agile working practices? These are the questions that should be asked before you integrate your business into new premises.
Undoubtedly, one of the best ways of making a good first impression on a visitor and creating a sense of culture in your workplace is to add branding. This can be as simple as choosing your colour scheme, or as complex as having giant furniture in the shape of your logo (hint, Google), even the smallest effort goes a long way.