TOP 10 TIPS TO CONSIDER WHEN LOOKING FOR AN OFFICE

  1. Start off small – be agile and keep costs to a minimum and don’t over spend on space until you need it.  Grow in the office building, not into your initially empty office!
  2. Mix products – when getting started in business try a virtual office solution and either co-working desks, lounge passes or shared spaces 
  3. Plan for serviced office renewals – always look around and get a renewal quote.  A 12 month agreement can increase from 3-50% ‘on the invoice price’, if you've benefited from free monthly promotions
  4. Consider ‘Lease back’ -  if going into conventional space, consider this option on your furniture and even fit-out.  It's tax deductible, cost efficient and great for cash flow purposes in the early years
  5. Use a broker or agent to help source your property options – most brokerages are free! Conventional agents will charge around 7-10% for a conventional search
  6. Negotiate hard – make sure you 'shop around' and always ask for a discount or a lower rate for longer terms.  Best time to negotiate is the last few working days of the month.
  7. Use flexible office solutions – a small business needs to be agile and adaptable.  The less you have to manage the more you can focus on business.
  8. Location – consider all the variables from, recruiting the right people to being in the right place for your business
  9. Office density – consider small desks or even hot desking at the start.  Most serviced offices have a range. in Leased spaces make sure you look at a number of density options through a space planner
  10. Timescales – allow 3-6 months if looking for a lease.  You will have to consider; IT, Telecoms, Furniture, Fit Out and much more…

Always ask your property advisor to make you aware of any promotions in the market and how best to secure them on a longer term basis. 

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