Many successful businesses started out operating entirely from home, but significant growth can indicate the need for a physical office.
Making the move from a home operation to office-based work can be challenging, so we’re here to guide your transition smoothly with these six tips.
Start Planning Early
There are a lot of elements to think carefully about before making the move. For example, will you be renting or buying office space in a shared building or privately?
Sharing an office space allows you to reduce costs and means you don’t need to hire a receptionist whereas opting for a private space gives you the satisfaction of calling a place your own while having more flexibility.
Think Smart About Location
The location of your office building will play a huge role in how successful the transition is. After all, a poor choice can mean less demand and foot traffic.
Before choosing a destination, conduct extensive market research to find an area that will open up more business opportunities.
After deciding on an area to focus your office search, find a suitable space that will suit your business. Having high visibility is a good idea for growing businesses, as well as being situated close to your primary clientele.
For example, if your target audience is students, there’s no point in moving into an office that’s on the opposite side of the city from the university.
Decide on Leasing or Buying
Choosing whether to lease or buy can be challenging, so make sure you weigh up the pros and cons of each. When leasing, you’ll benefit from having a landlord, which means you don’t need to factor in ongoing maintenance costs.
However, you will need to ensure you can be flexible and afford the rent.
When you buy an office, you’re taking on the responsibility of property management as well, but you have the benefit of turning the space into anything you like. Additionally, if you don’t end up using all the space, you can rent it out to other businesses.
Check Your Budget
Before you start the moving process, make sure you can afford any extra costs associated with renting an office. Analyze all finances and decide how much money you can allocate for the move, and then don’t break the budget.
There are many ways you can cut costs when renting office space, so don’t despair if it looks like you don’t have the available capital at first. For example, a first-floor office space will typically save you money.
You can also browse secondhand marketplaces to source cheap furniture, but make sure you’re not wasting money on pointless office equipment like pool tables and expensive coffee machines.
Track Project with Technology
The best way to treat your office is like any other project. Set goals, set budgets, allocate tasks, and track progress. Thanks to advances in technology, you can track everything with a project management system (PMS) that can be customized to your business’s needs.
Not only will such a tool help the move stay on track, but it’s also good practice for your team to get used to working with a PMS.
Don’t Rush to Sign Contracts
Office rental leases are intricate documents with countless clauses to consider, so have an expert look over everything before signing. For instance, if you look at a long-term contract and then realize you don’t have affordability, a short-term lease may be the better option.
Transitioning from home to office operation will present unique challenges, which is why you need how to navigate the process smoothly.
