Is business going well, and have you been turning a profit for a significant length of time? If you’ve reached a stage where you have money in the bank, now could be a good time to start making more permanent changes in your business that would future proof your venture and also save you cash. For example, perhaps you could build a manufacturing plant of your own, or invest in your own transport for deliveries instead of outsourcing? Maybe you could buy your own equipment instead of hiring, or even buy your own office premises? When you rent an office, every month that you pay your rent this is coming out of your profits. When you buy your own, you’re investing in something that you actually own which massively improves your financial position. But instead of just buying existing premises, why not build yourself? It’s generally no more expensive than renovating since you can avoid issues like repairing structural damage and removing pests and asbestos. You can also design the building to work exactly for your business which can boost productivity and even improve worker happiness. If it’s something you’ve been considering, here are a few things to bear in mind.
Think about the size
A bigger office will always be more expensive, so it doesn’t make sense to build an enormous structure if you don’t have to. However, you will want to think about whether your business will grow over the years and so more space might be needed, compared with what you need right now. You could either build it larger than you need, or leave space to extend upwards or outwards in a few years if you need to.
Offices tend to be full of high-value equipment as well as cash and customer data which can be used in crime or sold on to other criminals. Since they’re usually empty after 6 pm they can make targets for burglary. So when you’re building your office, think about security. Have good quality windows and doors installed, as well as shutters or lockable window grilles if needed. Have CCTV and a burglar alarm fitted, and even consider your roof. Speak to a commercial roofing company and have them give you tips on how this can be re-enforced to prevent criminals entering this way.
Find the right location
For some types of businesses, the location that it’s placed is everything and can be the difference between success and failure. Shops or retail companies for example will rely heavily on foot traffic as a way to get customers, so you’ll need to be in a prime location for this. If you don’t rely on footfall to generate customers for your business (for example, you’re an office or other kind of business that does not deal directly with customers) then you’re able to build your office a little further out where you’ll get more for your money. However, location is still important as you will need to think about how easy it will be for your staff to get to. Look into things like transport links and road access. And don’t overlook things like disabled access and parking- it needs to be accessible.