Common mistakes made while leasing an office
Either when you possess an established business or you are just thinking of having it , finding the right office for your team is one of the most important things you will need to take as a business leader or decision-maker.
However, finding the ideal office space for your business is certainly not an easy task. But Now dont worry we are here to help you, Wow warangal helped numerous businesses in leasing their offices within their parameters and within the budget. We have also come across many business approaches who have fulfilled their dream with us. In this blog we will discuss Common mistakes made while searching for the right office space?
1. Lack of proper research
It is really important to take the time to do some in-depth research. Some of the factors that are crucial to consider are your budget, how much space you exactly need, location of the office. For huge businesses such as logistics, transportation, additional research may be required on the locations. We would always recommend making a list of offices that meet your criteria. Budget is also a key factor.
Certain factors like layout , expansion options, technology, infrastructure, facilities , amenities and suitability for long term growth , will determine whether the final choice of workspace will be the right office for you.
2. Choosing wrong sized office
Most businesses often miscalculate the actual space required. More always, lease an office that has unwanted space. Hence a lot of money and resources are wasted. In the event of getting a space too small, you may need to lease additional space, resulting in loss of money and time again.
These are some factors affects the size of your office
- Growth Projected
- Significant changes which your business will undergo.
- Projected number of staff you are going to hire in future.
- Contingency plans in the event of drastic changes in your business landscape.
- Disaster management
3. Not knowing your requirements
We met numerous businesses moving from traditional services to Serviced and Flexible services. In the course of moving or indeed before embarking on the hunt, they frequently feel that the same conditions they used to have will also apply in their new office. Most frequently, this isn’t the case and numerous costs and conditions may not be necessary after all. effects similar as a devoted receptionist and meeting room are veritably good examples. installations similar as receptionist, office front office, closet, and meeting apartments are handed as common installations and outstanding on an ad hoc base, unlike in traditional services where you’ll need to produce and pay yourself, hence performing in massive cost savings.
Grave underestimation of your conditions could indeed be more pronounced when a business moves from a flexible workspace to their own long term devoted office. Some of the factors affecting this are as below
Signing up for an office that’s too fanciful
We’re presently in the midst of a period where numerous co-working and flexible services are opening in huge figures. In an extremely competitive terrain, numerous services have offered seductive and fantastic gratuities similar as plush innards, custom- made furnishings and numerous different fantastic themes similar as luxurious hospitality, loud & open themes, some immolation free beer and clunk pong games. While it’s generally a good thing to separate among the competition by offering commodity special to allure prospective tenants. still, tenants made the mistake by subscribing up for similar services that offer similar gratuities and fantastic designs, and later only realising that numerous of similar features aren’t necessary for their business operations and having to pay redundant for all of these.
Signing up for a lease that’s too short or too long
This is another prominent and yet veritably common space. Some businesses during their incipiency phase, signing to an office lease for a period that’s way too short. The strike is, upon the expiry of the parcel, they will be anticipated to pay an advanced reimbursement for extension or renewal. generally 6 or 12 months should be a better option if businesses are doubtful of their business growth. On the other hand, numerous businesses commit the biggest mistake by signing to plans that’s way too long. Either the businesses outgrow their requirements or their cutting down of costs and force, performing in redundant space in the office they first inked up for.