Are You Ready to Upgrade? Determining The Size of Your Next Office Space

Moving into a new office space to improve working conditions for your employees and staff might be an exciting process, but there are quite a few things you need to keep in mind before taking the plunge! Most company owners don’t anticipate so many details to go into the moving process, but there’s much more to the transition itself. Here are some things to keep in mind when you’re planning on upgrading your office space.

Utilize

Sure, the sound of an upgraded office with endless conference room space, and large break rooms seem appealing to all, but for a business owner it’s something that should be taken into consideration before moving. These spaces should be used appropriately, and when moving to a new building ranked in level of importance. If you tend to only have frequent, small meetings, then consider downsizing the amount of large conference rooms. Utilizing the provided space for something that your employees will need and use is better than creating a space that will only be utilized every so often. For any extra space in your building, get creative and use it for purposes that will benefit your company, and create an office that will keep employees happy as well.

Budget

Almost every change you make in and for your new building should align with your budget. With that said, there are many factors that business owners tend to overlook when planning to upgrade. Often times these items aren’t purposefully left out of the budget, rather it’s something that they don’t even think of. Our professionals at Whitebox are here to assist you in the smaller details that can alter a business’ budget without the owner realizing how much of an impact it will have.  Some of the overlooked items on the front end tend to be, moving costs, cabling costs, and architectural fees.  Another item that tends to be overlooked is that the operating expenses in a building (especially the taxes and insurance) are a variable cost and tend to go up.  We like to use some sort of inflationary amount to project these over the course of the lease, but it is still impossible to see what the future holds.  .

Employee Count

Count every single employee! Your employees are what make the business run, and each and every employee is an essential asset to your next upgrade. Determining a space that your employees will not only feel comfortable in, but will actually enjoy being at work can be a feat, especially when you fail to address the true size of your business as a whole. Determine how many employees are in your office, include remote workers too, and then determine what each of these employees needs to provide work on a daily basis. Some may only need a laptop, while others will need a desktop computer with multiple screens and large equipment.  At the end of the day a company spends more money on payroll than any other line item on their P & L.  HR, recruiting, and retention are the most critical component to a real estate decision.

If you’re looking for a new space and don’t know where to begin, the professionals at Whitebox Real Estate can get you moving in the right direction. Call us today for a consultation, and we’ll get you started on your way to a better office space for you and your employees!

Tagged:

Blog

Top