For a start-up owner or even a seasoned entrepreneur, finding to buy commercial office space in Noida can be a puzzling and challenging task. Apprehensions over business needs, size of the company and budget are a few reasons why finding office spaces in metro cities. You can turn into an unpleasant and long, drawn out procedure. Despite the fact that there are a few whys and wherefores to get over the hassles of office space shopping, anticipating ‘when’ to start looking is the best way to reduce a portion of the stress that runs with this process.
Here in this blog, we will be discussing a few factors that will ensure you that now is the best time to look for and invest in an office space –
- The business has outgrown the place it is currently using – The growth of the business is the staple diet of success and this diet is what every business owner wants, hope, dream and pray for. But then, when the business grows, the size of the office space does not always grow with it. In view of the fact that a thriving business means a long list of clients, suppliers and employees, it is quite obvious that the current office space won’t suffice the purpose. Let’s summarize the point, if your current office space gives you the feeling of a ‘sardine can’, investing in a bigger and better office space is what you should look at instantaneously.
- Low rate of Employee Retention – Businesses can’t afford to lose money. Thus, if your company sees low rate in employee retention, which means you are losing big money every year, then you must look for an office space which is smaller than the current space or find an office space at a location that can attract employees and clients alike. Large organization has the appetite to digest this sort of financial blow but it could kill the startups and even the smaller organizations. Hence, if you are experiencing low employee retention then it is important to relocate your business to a smaller office space, however we would suggest never go for cheaper office spaces or offices that are located in remote areas, as you might save a good amount of money initially but retaining both employees and clients would become another issue to deal with. Look for a smaller space but don’t compromise on location.
- Planning on Business Rebranding – Another factor that contributes hugely to the success of your business is – the way you brand your company. However, there are many entrepreneurs who fail to realize that branding is location-centric, which means the way you brand your business at one location might not give you the same output when done at another location. Hence, if you want to go ahead with rebranding of your business then choose the office space that is available at a location that is famous, has a major footfall and require less effort to publicize the image of your business. Some places have their own reputations and having their name attached to your business means ‘low efforts and more gains’.
- The current office location is too expensive – Commercial spaces are exorbitant in cities like Noida. While basic rent is a major factor to consider when dealing with office spaces, other costs that come with this base rent amounts have the capacity to bring a small business into a big financial situation. Hence, it is important to consider a new yet inexpensive location and office space that closely matches your budget may be a viable solution. Such properties may give you the courage to even buy the office space than getting them on rent.
- The present location does not justify your company’s image and culture – The culture of the company says a lot about a business. The values, beliefs and ideals that an organization holds define the character of a company. Due to the importance that company culture has on an organization, renting or owning an office space. And that reflects those beliefs should be equally as important. Having an office space that matches closely to the company’s culture improve – employee retention and satisfaction.
So, if you are an entrepreneur and is confused about your office space. Then you needs to just go through the points mentioned above. So you can take quick and informed decision that will unlock the doors of growth for your business.