Contemplating a business move is a big endeavor. But if the time is right for your company, here are some things to consider as you plan.
1. Consider your growth plans
Do you plan to grow your business significantly in the next five years? How many employees do you have? Keep in mind the size of your current operation and where you plan to grow as you think about the right space for you.
- How much space do you need?
- Are you adding new product lines or considering a new service to increase revenue?
2. Think about your ideal work environment
What sort of environment are you looking for? What sort of environment do your people need?
Do you want employees to be in a collaborative space or a more serious corporate-style environment? Do you want an open loft with shared desks or cubicles and corner offices?
Think about your people now, the people you think you’ll need, and consider the obstacles your people encounter every day. Ask yourself, “what can’t I do without?”
What can you afford? Are you in a position to purchase something, or do you need to cut costs?
This will have a lot to do with location and building-type as well. What neighborhood are you looking to be in? Do you want a space in a high-rise or an entire building?
4. Obligation/Contract Length
Are you established and looking for a long-term solution? Or are you an early stage start-up looking to stay untethered?