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Should you think big or think small as you start your office search
11 āļĄ.āļ. 2016
āļāļāļāļ§āļēāļĄāļāļ·āđāļāđ
Should you think big or think small as you start your office search?
Is your business better served by a smaller office? Or moving into a larger office space makes sense? To answer this question youâll need to determine whether thinking big or thinking small makes more financial sense to your business.
Thinking small
Pros
âĒ Smaller offices cost less. If the business has to shut down at some point, they wonât cost as much money as they would have been if they had invested in a larger office space.
âĒ If the business has small staffs and less equipment, smaller office space makes more sense.
âĒ For small and relatively new businesses, it is also better to choose a shorter-term office lease.
âĒ It gives business owners the maximum amount of flexibility. Owners can more quickly move to another office if their business should succeed and grow.
Cons
âĒ Your business might grow rapidly that it becomes cramped in the small space.
âĒ Taking a short-term lease can cost more. Landlords tend to charge higher rent price.
Thinking Big
Pros
âĒ It gives your business the opportunity to grow if your business succeeds.
âĒ It also allows you to add more new equipment without crowding the space and other amenities that might not fit in a smaller office space such as waiting areas and meeting rooms.
âĒ Taking a long-term lease allows you to have more stability and cheaper rent.
Cons
âĒ With larger office, youâll have to spend more, simply because there is more square footage to pay for.
âĒ Youâll lose the flexibility. You may want to move to a new neighborhood thatâs more attractive to your clients. Doing that can be costly if you still have your existing long-term lease.
Is your business better served by a smaller office? Or moving into a larger office space makes sense? To answer this question youâll need to determine whether thinking big or thinking small makes more financial sense to your business.
Thinking small
Pros
âĒ Smaller offices cost less. If the business has to shut down at some point, they wonât cost as much money as they would have been if they had invested in a larger office space.
âĒ If the business has small staffs and less equipment, smaller office space makes more sense.
âĒ For small and relatively new businesses, it is also better to choose a shorter-term office lease.
âĒ It gives business owners the maximum amount of flexibility. Owners can more quickly move to another office if their business should succeed and grow.
Cons
âĒ Your business might grow rapidly that it becomes cramped in the small space.
âĒ Taking a short-term lease can cost more. Landlords tend to charge higher rent price.
Thinking Big
Pros
âĒ It gives your business the opportunity to grow if your business succeeds.
âĒ It also allows you to add more new equipment without crowding the space and other amenities that might not fit in a smaller office space such as waiting areas and meeting rooms.
âĒ Taking a long-term lease allows you to have more stability and cheaper rent.
Cons
âĒ With larger office, youâll have to spend more, simply because there is more square footage to pay for.
âĒ Youâll lose the flexibility. You may want to move to a new neighborhood thatâs more attractive to your clients. Doing that can be costly if you still have your existing long-term lease.
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