Working from home into a fully-fledged business with its own office is a big milestone in the life of any company
Going from a solo entrepreneur, working from home into a fully-fledged business with its own office is a big milestone in the life of any company. It marks your transition from a small business into a growing one, and for many start-ups it’s a sign that they are beginning to find their feet and turn a profit. But there’s a lot of decisions involved in making that move, and getting it wrong can prove to be a costly mistake. Here’s what to consider before moving locations:
Decide On Your Priorities
Each business will have different considerations as to what it needs from a space. It could be that you are a graphic design firm and need lots of light, and space to meet clients. You could need a studio, or warehousing space to store stock. Map out your considerations early on to make sure that you choose a space that’s right for you and your business. Next, consider the location. In some spaces, you may pay a premium for the ‘right’ address – and this can be important for certain types of business. You may also need to consider the transport links and how easy your office is for staff and clients to get to. Take into account futureproofing your business too – you don’t just want a space that suits your immediate needs, but one that also provides a little extra room for further expansion. There’s no point moving just to have to move again in a year’s time.
Consider a Hub Space
A business hub or co-working space can be a really useful transition between working at home and having a formal office. Usually, the monthly cost includes utilities and internet, plus you can often get access to the services of a larger business, such as a telephone-answering reception. Co-working spaces are often themed by sector, so they can be a great way to meet companies operating in the same industry and make valuable contacts.
Cover the Legals
You will need good legal advice when making the move to a new office space. This is to ensure that any contracts are drawn up correctly – speak to other small businesses to find out who they used and whether they were satisfied. View a good range of properties to get a feel for the market, and don’t be afraid to ask lots of questions from the agent or landlord. Would they be willing to cut you a deal, or do they have follow-on spaces you could move to if you outgrow this one? Talk to other tenants if possible and find out if they are happy with their leases.
Your team won’t be able to work without proper Telephone Systems and Internet, so make sure you have those arranged as a priority – especially as there can be a lead time to getting an engineer out on call. Use your best negotiating skills to make sure you get a good deal and the connection speeds that you need. Depending on where you are located, high-speed fiber optic broadband is subsidized by the authorities – usually in dedicated business growth districts.