Office Space: Lease Or Build Your Own?
The majority of companies tend to lease office space. This is fine but it does mean that you’re going to be paying out rental fees every month indefinitely. It also gives you a lot less control over the specifications of the office, so it could be a better idea to build your own. Obviously, the cost is going to be far higher in the short-term, but in the long run, you’ll save on lease fees. Owning the building yourself also adds to the assets that your company has which is always a benefit. If you’re thinking about building your own office space, here’s what you need to know.
Don’t Cut Corners
You might be tempted to do things on the cheap, but it’s not going to sustainable. Instead, you should go for quality over low price, that’s the way to ensure that your new office space stays in good condition for longer. If you use cheap materials, you’ll have to do repairs way more often and that’s going to cost you. Using metal roofing over traditional materials is always a good idea. It is far more durable and it also gives you added fire protection. This should knock down your insurance bill once the office is up and running. It’s also way quicker to install so the construction time will be reduced.
Ask Your Employees
Your employees are going to be the ones working in the office day to day so their concerns should be at the forefront of your planning and design. If you don’t listen to them then you’ll end up creating an office space that they don’t like. When your employees are uncomfortable in their office space, productivity will be hugely affected. However, if you ask them what their optimal conditions for working are, and fulfill them, you can get the most out of your workforce .
List Your Priorities
The dynamic of every company is slightly different and you’ll have your own set of priorities. If team communication is key, then consider having an open plan office. Employees from different departments that collaborate often should be placed nearby to minimize running back and forth and wasting time. By working out your priorities and building your office plan around it, you can maximize efficiency very easily.
Leave Space To Grow
Hopefully, your business is going to expand in the future. When you’re leasing an office, it isn’t too much trouble to move to a bigger office if you need one. But if you’ve taken the time and effort, not to mention the money, to build your own office from scratch, it’s going to be waste of time if you move out after two years. Take this into account when you’re planning and leave extra space that you can expand in. However, make sure that you don’t go too far in the other direction. You don’t need to build a tower block for your small business. Consider creating two or three extra rooms. They can still be used for meeting rooms and then you’ll have plenty of room for more employees when you need it.
Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.