3 Factors To Consider When Choosing Your First Office

Starting a business from home is a great way to keep your overhead low and reduce risk, but it can only get you so far. There will come a time when you need to start thinking about expanding the business, moving into an office space, and hiring employees. Picking your first office is an exciting step, but it’s also a daunting one. You will invest a lot of money and if you choose badly, it could have a serious impact on your business. These are some of the most important factors to consider when choosing your first office space. 

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The Location

The first thing to think about is the location. It’s important that you find somewhere that is easy to get to for you and your employees, and close to customers (for retail traffic). Ideally, you would want to be right in the center of a city, but you will pay a premium for that location. You might be able to get a cheap deal if your office is in the middle of nowhere, but that makes things difficult for anybody that needs to get to the office. It’s important that you find a middle ground between the two so you don’t spend more than you can afford at this crucial time in your business’s development. 

You need to think about business taxes as well because they vary a lot. There are some states that have very low taxes so they’re a great place to form an LLC, while other states will charge high business rates. Moving to another state to run your business is a big step but it may be worth it if you can reduce your tax burden a lot. 

The Energy Costs 

Even if you can get a great deal on a lease, that doesn’t necessarily mean that the office is going to be cheap. If energy costs are high, you may struggle to cover your monthly running costs. There are some ways to make your office more eco-friendly and save on energy, but some buildings will be expensive to run regardless. Older buildings tend to be poorly insulated so it’s best to go for something more modern if it’s within your budget. Always ask about the energy costs before you sign the lease so you don’t get caught out. 

Parking 

Parking is one thing that people always forget to check because they are so focused on the office building itself. But if you don’t have enough parking for all of your employees, that will cause you problems. Make sure that you think ahead as well and find a place that has enough space for all of your employees, with extra in case you hire more people in the future. If you will be hosting clients at your office, make sure that there is plenty of parking for them as well. 

The price is obviously your most important consideration, but don’t forget to take these factors into account as well.