Moving into your first office space is a memorable milestone for any developing business. As time goes by, the office space doesn’t seem as it was before. Once empty spaces are now filled with the various new equipment of the company and as more employees are being hired, the once spacious office starts to seem small for the business in further development.
You may start to wonder whether the office space that your business is currently using can still support the company and provide its needs. Maybe the once broad opportunities within the office have now become limitations for the business to grow and develop even further. So when should a business need to move out of its current office space and seek new places to reside? Today, we are going to talk about deciding when the business should move into another office and the factors that contribute to that decision.
1.) The space in the office has become too small and constricting for the business – As time goes on businesses and companies will grow and develop. In the process, they will need to hire more employees and purchase more tools and equipment in order to complete bigger tasks and more challenges. With this, the amount of space inside the office starts to become used up until there is no available space. Once this happens, the environment may feel constricting prompting the need for the company to move somewhere bigger.
2.) The price range has risen too high – Each time the lease of the office space is renewed, the landlord will raise the cost of rent up by a certain amount. This is why it is preferable to sign contract leases that have a longer time period reducing the times when the lease needs to be renewed. However, you can always still expect rent to rise due to inflation. However, once you deem the price not worth the space anymore, you can choose to move to another office space.
3.) There are better office spaces available – With more and more business being developed, offices spaces have risen in demand. Due to this, more properties have been renovated to suit an office setting where a business can set up. Once in a while, you will find great looking office spaces available for occupancy, but before you decide to move out of your current office space, you first need to consider the benefits you will gain in the new office and lose from the old one.
4.) The current office is old and unfit for your business – Over time, the office space will also deteriorate and the structure of the property won’t be as strong. You may notice this through cracks in the walls of the office, the tech in the property has become outdated and other factors. Old offices are enticing due to their cheap rate costs, but you may find newer office spaces to be better that have stronger structures and come with newer technology for your business to use.