Purchasing Office Space

Your company has reached the point where it is time to move it out of your household den and into a real office building. All the hard work you have put into building your company has truly started to pay off. Now the only question probably is that when it comes to purchasing your first office space, where do you start?

Location, Location, Location

The tried and true saying for residential real estate can also apply to your search for office space. If your company conducts most of its business within a certain region, it might pay to keep your search for office space on the local side. If you are a real estate agent, for example, who has recently moved up to the status of broker you would certainly want an office presence in the area where most of your listings will arise. This way your business is more conveniently located to the majority of the work it will be involved in and the clients it will serve.

If your online sales business has skyrocketed and you not only need more room for inventory, but also need more room for additional employees, then the location itself might not need to be in the center of the town in which you live. It might help to find an office space which is conveniently located to major highways so as to allow your employees more ease in getting to and from work. However, since much of your company's revenue is generated from all over the country if not the world, the exact office location is not necessarily going to determine the amount of business your company will continue to generate.

Keep in mind that local area taxes may vary greatly and you still must be able to afford cover from your business insurance provider. If your company operates near a town or county border, for instance, it might make financial sense to move it to an office space in the region where taxes are lower or there are significant benefits for companies like yours operating in that region. Once you have figured the best location for your new office, you can start shopping.

Watching your Overhead

As exciting as expanding your office can be, there is a real need to keep things as cost-effective as possible. If you are in need of the space, but still have to keep an eye on how things go once your new overhead kicks in, consider sharing office space with another company of a similar size. There are many office spaces available from companies who are looking for a little extra rent from business owners like you.

Your company can share the office space, which can allow for enough room and enough savings to keep your company's growth on track. It is possible to purchase the office space itself with another company thereby splitting the overhead and operating costs. If you are still in need of the extra space but a little worried about how things will turn out once the additional expense of paying for space takes hold, consider purchasing temporary office space.

There are plenty of offices which are available on a temporary basis. If you can find temporary office space in the nearest metropolitan area, it can be a boost to your company's image as well as make it easily accessible to customers, vendors and employees. Plus, if the temporary situation turns out to work for your company, you can easily think of purchasing office space where you are for the long term. This way you will have not made a costly long term commitment before discovering the location was not quite right for your business.

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