‘Location, location, location’. You have surely heard this phrase many times before. First heard of in the Times Magazine, and coined by Lord Harold Samuel, this term basically emphasises on the importance of location. You can find the perfect office for your business, but it will be useless if it’s not in the right location. Moreover, while you can change the structure, remodel or alter your office’s layout after you purchased or rented it, you cannot move it. And hence, before choosing a office space for rent or to buy, you must consider the location.
Now, you may ask, how can the location of my office affect my business?
The answer is simple. The location of your office will determine the foot traffic, it will determine how easily natural or local resources are available to you, it will determine zoning restrictions that you may face and many more factors. Here are a few points that state how your office location could impact your business:
For any office to function effectively, the most important factor is having a strong and skilled work force. You may encounter the perfect employee, who is sure to add value to your company, but you might lose the resource as your office is located too far, or not in an appropriate place. hence, if you are looking to get a high-quality work force, your office needs to be located in a good locality, that is in close proximity to certain essentials. For starters, check for public transport routes near your office, as being located near these routes will make it easier for employees to travel by bus or train. For those who will be driving to work, make sure there is adequate parking, that is near the work place. Moreover, an added benefit would be providing employees with amenities like a cafeteria, in-house gym facility and others.
Based on the type of your business, you will have to interact with suppliers or clients on a regular basis. For suppliers, it is important to know where they are located and their accessibility. While the deciding factor for choosing a supplier is surely their price and quality, you also need to consider the speed of delivery. Hence, the closer you are to your supplier, the faster you can get access to your goods. On the other hand, if you have to meet with clients, the location of your business can give a good or bad first impression to your client. You also need to consider the proximity of your office to your clients. Being closer to them can ensure easy face-to-face meetings, that is sure to build trust between you and your client.
If you do not give enough thought while choosing a location for your office, you might end up in a building that doesn’t provide basic infrastructure and amenities for the smooth functioning of a office. For example, many older building do not support the hi-tech needs of contemporary operations. Hence, while choosing an office space for rent, make sure the building has proper air-conditioning or air-ventilation, telecommunication services that meet your needs and other features, that will help your business grow.
Yes, the location of your office can highly affect the smooth functionality of your business. So, carefully consider all the factors before zeroing in on a location. After all, it’s all about, ‘location, location, location’!