| Most business owners fear the day they will have | | | | accommodate your requirements. (i.e. serviced |
| to look for office space. | | | | offices or business centres) |
| Whether your business is growing or you are | | | | 4) What corporate image do I want to show my |
| starting a new venture, you will always face the | | | | clients/customers? |
| same problem: finding the perfect location. | | | | For most businesses, image is everything. It took |
| It will take you time, effort, dedication and money | | | | years of hard labour to take it to the top, and |
| to go through hundreds of classified ads and | | | | your image should be taken in consideration when |
| internet referral websites. Of course, you could let | | | | choosing your office space. You should consider |
| a commercial real estate broker do the job for | | | | both the exterior of the building, and the interior |
| you, but like any consulting services, it will cost | | | | of the suite. |
| you a lot. | | | | I remember going for a job interview and being |
| The challenge is easier than you think | | | | shocked by the poor condition of the carpet in |
| By asking yourself the following 6 questions, you | | | | the reception. Is this the image you want your |
| will be able to identify your needs and optimize | | | | business to project? |
| your research. This small reflection will save you | | | | On the other hand, a friend of mine recently |
| time and money. And maybe most importantly, | | | | invested a large amount of money with a |
| your search will be stress less. | | | | Vancouver private bank. Despite being relatively |
| 1) Where is my target audience located? | | | | new in the business, they appear to be |
| We often confuse where we want to be, and | | | | trustworthy and stable thanks to a luxurious |
| where we need to be. A health professional | | | | office located in a stunning building Downtown. |
| recently contacted me asking for prices of | | | | In other words, look for owners who are willing to |
| serviced offices in Midtown (New York City, NY). | | | | renovate their space prior to leasing it. This will |
| He was about to launch a corporate massage | | | | show that they are serious about their business, |
| therapy business and needed some office space. | | | | as they recognize that you are improving their |
| Instead of talking numbers, I simply asked him | | | | office and increasing its value. |
| where his clients where coming from. His answer | | | | 5) What type of tenancy aligns best with my |
| was "Manhattan and Broadway". | | | | company's objectives? |
| He suddenly realized the magnitude of his mistake. | | | | Do you have a short term or a longer term |
| He wanted to save money before building his | | | | business plan? Are you in a market where the |
| clientele. Yet it was more important to be close | | | | vacancy rate is below 5% and you need to |
| to his customers. | | | | secure a space for 3 to 5 years? Can your future |
| 2) Will an accessible location benefit my business? | | | | landlord provide you with alternatives while your |
| Not only should you consider this question from a | | | | business is evolving? |
| customer angle but also with your employee in | | | | Planning ahead is your best option in such a tight |
| mind. There is nothing more frustrating than | | | | commercial market. Securing long term leases will |
| driving around the block until you can find a | | | | give you stability. Negotiating lease portability will |
| parking spot, or walking half a mile because your | | | | help you anticipate the growth of your business. |
| office is too far from public transportation. For | | | | 6) Will I be using amenities such as a boardroom |
| example, an international language school needs to | | | | or reception services? |
| be central, and handy to travel to. | | | | There Ain't No Such Thing As A Free Lunch |
| Keep that in mind and you will see smiling people | | | | Who has never heard this sentence from Robert |
| instead of irritated ones! | | | | A. Heinlein? Nothing is free in the corporate world, |
| 3) How should the space be configured to create | | | | and these services are no exception. They will |
| an efficient work environment? | | | | either be included in your monthly rent, or |
| This comes back to how you want your team to | | | | charged separately. So think twice before |
| operate. Do they need privacy, and therefore a | | | | choosing an office for its extra features! |
| fully partitioned space, for example investment | | | | Will you really use a boardroom, and how often? |
| banks or law firms? Or do they have to work | | | | If you only use it once a month, then it does not |
| with one another most of the day and | | | | make a difference whether it is billed on top of |
| consequently would fit best in an open layout (i.e. | | | | your rent or not. However, if you need it more |
| graphic design firms)? | | | | frequently, then prefer a contract where the |
| Few landlords are flexible on customizing their | | | | executive services are included in your monthly |
| space. Give preference to the ones who can | | | | charges. |