Five common mistakes companies make when choosing office space
One thing that we can all agree on is that choosing the right office has a direct impact on your business success. Employees, visitors and customers are all impacted by your choice of office space and if you get this important decision wrong, the consequences can be disastrous. However, you can avoid many of the common mistakes that companies make when choosing office space by getting some expert advice. With over twenty seven years’ experience in the commercial property market, Office Freedom can help you find the perfect workspace.
Mistake 1 - Failing to define your requirements accurately
By creating an accurate definition of your workplace requirements you are more likely to avoid the common mistakes that companies make when choosing office space. If you have an office already, look at how you utilise the space. For example, do you have enough room? Are your desks always occupied? Do you have enough space for informal meetings or private phone calls?
Then consider your broader needs:
What do you need to achieve in your space?
Which departments work closely together?
How many people need to use the office?
Are you likely to be hiring people in the near future?
Do all job roles need designated workstations?
Have you got enough breakout and social space?
What services and amenities do you need?
Which locations would best suit your needs?
What are your budget constraints?
The third crucial aspect is to review your future workplace strategy and decide if it is agile enough to cope with change and growth. Flexibility and adaptability are your best friends in uncertain times.
Mistake 2 - Believing the future is predictable
If 2020 has taught us anything, it’s that the future is unpredictable! The lesson that businesses have had to learn quickly when it comes to office space, is that flexibility and agility are an enormous asset in times of uncertainty. Therefore, before you commit to a conventional lease on an office, carefully consider all the options and alternatives. Does it really make sense to tie yourself into a long-term lease in uncertain times? You may find that a flexible workspace is a better option if you are unsure of what lies ahead.
Mistake 3 - Underestimating the complexities of finding your own office
Many businesses underestimate the time and complexity involved in finding the right office. Moving office can be a formidable challenge and an unwelcome distraction from your core business. These are just some of the tasks that you will need to undertake:
- Define your requirements
- Consider all the options (location, cost, size, type of workspace, amenities, scope to expand, terms etc.)
- Conduct searches and local research
- Check reviews and credentials
- Make numerous calls
- Shortlist properties
- Arrange viewings
- Negotiate with property experts
- Appoint suppliers and contractors
- Agree contract terms
- Organise the office move
It’s for all these reasons that we would recommend that you seek professional help and advice, it’s called Tenant Representation. Office Freedom provides Tenant Rep services for clients all over the world and our services are free of charge.
Mistake 4 - Failing to consider all the options
The number of options for office space is greater than ever. Long gone are the days when you had to choose between traditional office leases of five, ten or fifteen years. Nowadays there is a much broader range of offices from which to choose. You should look at all format options including hotdesking, coworking, serviced offices, managed offices and traditional leasehold to decide which one suits your business needs best. Once you have decided which type of office you need, you will then have to narrow down a selection that best matches your requirements. Office Freedom compares all flexible workspaces under one roof, so you won’t have to waste time comparing and contacting loads of different providers.
Mistake 5 – Prioritising cost over location
Given the advances in technology and focus on reducing costs, businesses can sometimes underestimate the importance of their office location. Location plays a huge role in attracting and retaining the best employees. Office costs are the second largest business expense after staff costs, and location has a huge influence on cost, so locating wisely is paramount. Accessibility is an obvious consideration as is the proximity of your customer base and supporting businesses. Location is also crucial when considering the type of business that you are. Start-ups and scale-ups will have different needs to that of a large corporate looking for a new HQ.
Whilst you can change many facets of your office’s layout, look and feel, you can’t change where it is (without the upheaval of moving!), so give your choice of location serious consideration.
How to avoid the mistakes companies make when choosing office space
The best thing you can do to avoid making these common mistakes is to get some expert help and advice. Office Freedom has been helping businesses find new office space since 1993 so we have more experience than most. Our service is free, so you have nothing to lose.
There are four key stages to finding a new office:
- Defining – Defining your requirements comprehensively and accurately
- Searching – Searching the market and exploring all options
- Negotiating – Negotiating the best deal on contract terms and price
- Moving – Organising an efficient move into new premises with minimal disruption
Our expert Consultants can help you at any or all of these stages.
We’re here to help
If you’re considering moving office, then call us today and speak with one of our experienced Consultants. No matter how big or small your office requirement is, our team are always on hand to offer help and advice. Get in touch today for a no obligation chat, call 0203 603 2576.