Company formation

Building Your Workspace: Practical Steps for Setting Up Your First Office

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Setting up a business is an incredibly tough task every business owner has to take. It sets the tone of the company, the workforce, especially the clientele. If you manage to set up an attractive office, it adds up to the credibility of your business. A new company without an office may seem a bit shady and hamper your new business. So, without further ado, let’s dive into the central pillar you should keep in mind while setting up your office:

  • Location: When it comes to looking for a new office, it is safe to say that location is king. Choose a location that compliments your business. This means if you are a retail business owner, then a market area would be perfect for the office. This will also help if you entertain a lot of clients in your office. If client visit is not a regular occurrence for your business, then it is best to choose an office that is an easier commute. It never hurts to make your employee’s life a bit easier. The Location of the office should also complement the vendors and the procurement process. The concentration of places where the raw materials are as well as service centers are, opening an office in those areas will reduce the cost of transportation. If you manage to choose an appropriate location for your office, you may gain far too much than what you will be paying for.
  • Budget: At the start of every new business, every business owner is more or less constrained with funds. Lack of funds or being mindful of the funds is a situation most have to deal with. Amidst that, spending for a huge office or taking up a considerable office rent as a fixed expense every month might not be the ideal scenario a business owner would want. Have a detailed discussion with your directors and business partners about how much it is in your budget that will be beneficial to spend on your first office. Only the cost or rent of the office is not sufficient; the cost of the utilities and appliances like electricity, Heating, and cooling systems, along with fixtures and fittings, are also some of the fixed and recurring expenses. You can rent some of these services if you are starting small and in a severe shortage of funds.
  • Amenities: Once the budget of the office is set, another head in that budget will be for amenities. Furniture, Fitting, and fixtures need to be installed as per the requirements of the. Comfortable ergonomic chairs, desks, and electronic appliances are all immediate needs of an office. Try not to hoard these movable things right at the beginning; it is better to increase them as your team expands slowly.
  • Aesthetics: Every business or company follows an aesthetic for its branding. Some take it very seriously, like KFC or Starbucks, some not so much, but everyone has one. Consult with your interior designer about what your business or brand entails and choose or create an aesthetic according to that for your first office. Big conglomerates like KFC, Starbucks, or Apple can afford to adhere to all the nitty-gritty of their brand strictly; as a new and upcoming business, you may feel it is not needed for your brand, so try to focus on the basics like paints and furniture. Try to steer away from permanent fixtures like the built-in logo of your company, and try to play with fittings and institutions that are removable or transferrable, so if needed, they can be put in a box and taken to your new office.
  • Services: It is better to subscribe to high-speed and quality internet and telephone services. Cost cutting and frugality in this aspect may hinder the productivity of the team hence may not be that profitable in the long term. Nowadays, several service providers give heavy discounts on corporate clients due to their heavy usage, so it is better to choose among some of those services.
  • Legal Formalities: Legal formalities and the paperwork of your new office should be up to date and correct. Hire an expensive lawyer if you have to, but make sure all the taxes and utility bills like electricity and water are paid in full till the first day you take office. Please make sure the contract or rent agreement you draw complements both the parties in their needs and wants.

So, these are the main aspects upon which you can set up your first office. You can always do more things and make a beautiful office for your business, but these are the four aspects that you need to give more thought to specifically.

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