Commercial space: Select the right fit for your business needs 

So, you finally made up your mind to start your own company? That’s really commendable! Every year millions of people speak about leaving their job and commencing a startup. However, only a few thousand people stay true to their statement. 

Nonetheless, 60% of these startups fail in the first few years. Why? This is because of the poor execution of the plan. You see, there is a significant difference between making a plan and executing it. Even if your business plan is flawless, that might turn out to be a brilliant startup. Without proper execution, it can turn into a total disaster. 

You must be wondering- how to ensure the proper execution of the plan? Believe us, there is no rocket science behind this. To make sure that everything goes as you planned it, you need to start with the basics. 

So, let us ask you this question- what is the basis of every corporation? No! It is not planning or drafting the blueprint of the corporation. In fact, it is the ‘Office Space.’ You need a place where you and your team can work together. 

Work from home concept is great but only for those who have already accomplished the first phase of startup. For the newbie entrepreneurs like you, ignoring the importance of commercial space may result in a bad decision.  

It is the place that provides a physical identity to your dream. Having a good space helps in leaving a great impression on the clients and customers. Moreover, your employees will also help in creating a professional environment for the startup. That’s why it is crucial to select an excellent commercial place. 

So, what are the elements that make a place suitable for an office? Don’t know? That’s alright! We’re here to help you out. Just continue reading the article, and you’ll learn about all the elements. 

Type of commercial property

Just like there are several types of businesses, there are several types of properties available for organizations to choose from. It generally includes:

  • Industrial parks- These properties comprise buildings that are usually divided into spaces and units- often used for warehouses. 
  • Business parks- These are the properties used for light-industrial businesses. Generally, it consists of groups of buildings. 
  • Commercial retail- As the name suggests, these properties are for retails stores, malls, strip malls, and walk-in companies. 
  • Commercial office buildings- These buildings are used by the rest of the firms that need corporate offices.

According to the type of startup you are doing and your requirements, you can select among all these properties.

Things to consider when purchasing the space

Before you actually purchase property, there are few factors that you should keep in mind. They are given below and can help you select the best place perfect for all your corporate needs. 

Location of the building

The location of the place is very crucial. You need to conduct a bit of market research to know where your target audience is situated. There is no point in locating your business at a place away from the city or your target market, just because it is cheap. Keep in mind that your customers will know about your company only when you’ll be in front of them. 

The trick is to look for a convenient location for your customers but away from your competitors. 

Building examination 

Once you have found the building at your desired location, conduct an exterior inspection of the building. Talk to the nearby people to know if there are issues related to parking or amenities in the building. Also, read all the details provided in the lease or by the broker. And check if it is true or not. 

Licenses and permissions

Generally, the buildings designed for corporate purposes are subjected to various permissions and licenses. In fact, there is a possibility of restriction on the type of business you do in a particular premise. So, before you sign any lease agreement, research the area. Needless to say, ensure that the building is made as per the regulations and has all the licenses. 

Safety and security 

Safety concerns should be on the top of your priority list. Wait! Are you thinking about CCTV cameras/ surveillance systems when we said safety concerns? If yes, then you are wrong. Alright! Let us clear this cloud of confusion. 

By safety and security, we mean that there are overhead doors installed in the building. Especially fire doors. As it is mentioned here, that they are designed to automatically close when there is a fire. So help in protecting you. Moreover, there are different types of steel overhead doors made in accordance with the safety regulations. 

Access to amenities

Another essential element of selecting the perfect office for your company is what type of amenities are provided. Usually, there are a few amenities that are provided within the premises, such as authorized parking, elevators, staircase, well-lit areas, sunlight, etc. Besides these, you should also consider the availability of convenience stores, coffee shops, and public transport.  

Proximity to supportive services

Supportive services are those that help your company grow, such as your supplier, post office, transportation. Thus, if possible, try to choose a place that makes it convenient for you to reach.

Green landscape 

Last but not least, it is essential to have greenery around the place. Why? Well, the work of an entrepreneur can get quite stressful. As you have to deal with hundreds of things and make a lot of decisions. So, to refresh your mind, you need greenery to be around. 

However, it is optional. If you can’t find a place near the green landscape, you can create your own. How? It’s quite simple. You can buy a few plants for your office. They will act as decor and also in calming the mind. 

To sum it all up!

Your office space can create a significant impact on investors, clients, and customers. Besides, it is not possible to relocate your office time and again. So, you should take your time and conduct good market research. Know where your competitors and audience are. Select the location accordingly. After that, make sure that the building is safe, adhering to the set rules and regulations, and easy access. 

Jonathan Rice

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