Cautious business owners put their earnings back into the business to make it more profitable or in their employees to expand their skills and earn their loyalty. Investing this way will ensure that their business grows and their people remain with them through thick and thin. However, one crucial thing business owners shouldn’t forget is their office space.
Small to medium business owners and employees from Penang to Singapore will tell you that an office too small for its operations disrupts day-to-day services. After all, 20 employees can’t do their best work in an office space as small as a studio apartment. If you notice the following in your own workspace, it may be time to look for a new office space for rent.
Too Many Team Members, Too Little Space
The number one consideration on the list is the number of employees you have. Running out of space to place desks or employees in, to the point that employees are bumping elbows or knees, does not make a productive workspace. Aside from practical reasons, your workers need personal space to do their best work in.
No Space for Guests or for Supplies
Stack all the shelves you want, but eventually, you’ll need another filing cabinet or computer to store your company’s data. Shelves and filing boxes are also needed for organizational and ease-of-access purposes. Put it all together, and you’ll eventually run out of space for more storage units or your employees.
Now, what if you’re the type of company to have clients or vendors visit your headquarters for deals and negotiations? It’s easy to send out your people to meet them elsewhere, but bills from coffee meetings stack up and your client may want to talk somewhere private. The problem compounds if your office barely has room for a coffee table.
When your clients start telling you your office is “cozy,” it may be time to invest in a bigger office—preferably, one with a room dedicated for hosting your valuable guests.
Paying Extra for Storage or Co-Working Allowances
Sometimes, there’s just no room for supplies or people in the office. A few owners circumvent this by paying for off-site storage to house copies of tax-related documents and archives, or extra furniture that has no place in the office. Others still give allowances to their workers for their coffee when they have to work or meet with clients outside the office.
These little fees add up and any self-aware business owner knows that. Savvy business owners won’t be afraid to move once they’ve reached the point where their workers need to bring work outside the office.
Too Far Out or Inaccessible
When your office is in a city too far from most of your clients, then it’s definitely time to relocate. This holds true if your suppliers, vendors, or dealers need to spend a significant chunk of their day traveling to get to your office. If the location of your office starts to affect your profit margins or the schedule of important work links, it’s time to move to a new office.
When choosing a new office space, always consider its location and accessibility, the age of the building, rent per month plus increases, and other expenses. Get help from your friends, family, colleagues, business partners, or other professionals to find the best office space for your operations.