Do not underestimate the value of good location | SupportBiz

Managing Growth

Do not underestimate the value of good location

 
Finding the right spot for your office requires a lot of thought. Not every business can move offices, from one neighborhood to another, every other year. Here are five factors to consider before you zero-in on a location.

Price of real estate

Not every business needs to be located in the heart of town, where rentals are on the higher side Explore the peripheral business districts, where there could be more room for negotiations.

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Give this a thought. Many of you would say you do not have the money to spend on a fancy office in a posh building. No worries. But not everybody would want their office to be located bang opposite a storm water  drain (which usually stinks). Try hard and find the best location within your budget. A good office in a good location helps attract employees.

Access to public transport

Choose office space that is located in close proximity to a bus stand, or a metro station. You might drive to work but your employees, who prefer taking the bus, will complain and probably quit if they find it difficult to get to work every day.

Safe and secure

Now in India, one could argue as to how safe any location can be. But try and find office space that is bang on the main road; closer to main road; located on a busy street; or at least on a street that is well lit in the nights. As your organization grows, many of you will have to work late nights and you do not want any trouble.

Where is competition located?

It could help to rent office space in a location where a number of competitors are also located. Be it a business park or a busy street, the sheer presence of a large number of companies, similar to yours, has  created a favorable ecosystem for smoother operations. Who knows, you could end up collaborating with your competitors in the future.