Finding a suitable office space comprises of a lot of thinking and planning. You have to consider several factors before renting one because the right location can make a significant impact on your business. It will make a difference to your day to day operations. It will also bring impact to your employees’ morale and the image of your company.
If you’re planning to rent an office space, here are some questions you need to ask before getting an office space for rent Philadelphia.
Do I Need an Office Space?
That should be the first question you ask yourself before looking at listings for office space for rent in Philadelphia. For example, if you’re an online start-up with no employees, there’s no need for you to rent out a storefront. Since your target market is available online, you don’t need a space where people come in and check your products or services.
So before signing a leasing contract, ask yourself if the office space you’re renting out will put a nail in your business coffin. Or will it help you grow?
Can My Business Afford It?
The budget has a big say when it comes to renting out an office space. It’s just like going on a trip; you need to look into your budget and work your way with what you have. Your budget shouldn’t only be enough for a month. You should be able to have the budget to rent an office space for six months or a year.
Give yourself a cushion considering you’re hiring new employees, equipment, furniture, utilities, supplies, and insurance. You need to know the extra expenses you’re going to incur when you’re renting out the place.
Will This Workplace Be Permanent?
Are you going to be here forever? If you’re not, then look for a place that’s simple and practical yet functional at the same time. One company started in the basement of a factory. The site was enough for their company, yet it also came with problems such as floors getting flooded and insects coming in. Here’s a good tip. Take things slowly when choosing your first office space. Figure out what your workplace can live without and the features that you absolutely should have.
Is the Location Good?
Conduct a target market analysis. Choose an office that’s within the vicinity of your target market. Besides the target market analysis, there are other things you also need to consider. An excellent location should have ample parking space. The parking should be enough to let your employees and clients park their vehicles without any trouble.
Another thing to consider is neighborhood safety. Nobody will want to come into your office if robbers are lurking around the neighborhood waiting for their next prey. You also need to consider the accessibility to restaurants, amenities, and public transport.
That way, your employees won’t be late going to work because public transport is within the vicinity. Lastly, you need to consider the competition. You might not want to position your office if there are three or more competitors nearby.