Owning your own business is an amazing feat. However, where you choose to set up shop can impact your company’s success. Choosing the right office space for your company is a big job and requires careful thought, research, and planning. Here are some tips to consider when finding commercial real estate options for your company.
1. Define Your Needs
First, you need to determine the type of commercial real estate that’s appropriate for your business. Consider the size of your staff, location needs, and parking requirements to ensure you get the right building for your needs. Consider potential areas for future expansion to ensure your real estate options can grow with you.
2. Research Available Options
Explore commercial real estate options in your desired area. Utilize real estate listings, such as commercial leasing sites, to further your search. Contact local realtors and brokers if you require more help or additional information. If possible, visit potential commercial buildings in person to get a better feel for the area.
3. Budget and Affordability
Always consider the cost of commercial real estate options. While researching the local market, consider the cost of rent, electricity, internet, deposits, etc. Expect commercial real estate to cost more than residential options, but remember that a good commercial lease can be well worth the investment.
The type of business you have can greatly be affected by location. Do you have to meet clients at your office? Does your office space double as a brick n motor shop? Are you looking for commercial real estate in a high-traffic area? These are all things to consider when determining location.
5. Space Requirements
According to The Receptionist, commercial real estate should be roughly 175 square feet per employee. Be sure to get enough space that fits your staff’s requirements and leaves room for future growth. While you may only have a few people now, consider the space for your projected manpower needs in a few years.
Finding real estate prospects for your company doesn’t have to be a headache. Use these tips to help guide you in the commercial real estate search. With careful research and thoughtful consideration, you’ll be able to find the right office space for you. Contact our local real estate office today for assistance.