If you run a business, you’ve probably got a strategy in place to help win more clients or sell more products leading to an increase in your workforce. This growth will mean the need for more space. Creating a strategy for office relocation means you can incorporate a move into your plans for success as well as your budgets.
After a few challenging years for the economy, it seems business is booming again in the UK for many sectors. According to statistics released this month by the Office For National Statistics, there are 31.58 million people in work. This is 409,000 more people than working than compared to last year. The employment rate is at 74.2% and is at its highest rate since comparable records began in 1971. Combine this with a growing number of freelancers and changes in working patterns and you have a strong argument for creating a strategy when it comes to the office space you might need in the future.
Our advice: We recommend planning 12 to 18 months in advance of your office relocation. Consider the number of staff members you will need to achieve your goals and then work out how much space is required to accommodate them. You can use our Office Space Calculator to aid space planning.
Below, we examine some of the changes in work and culture and ask the questions that will help plan for an office relocation. As a side note, we are not instructed or commissioned by landlords, so there is no conflict of interest in advice that we provide. We serve the needs of tenants only.
Has there been a shift in your organisation’s way of operating? Are your staff members increasingly working from home or other locations? Are you recruiting more freelancers? If the answer is yes, you may need to assess how this will impact your organisation in the future. A strategy for relocation that considers transport links for people travelling in and out of the area can improve time management and productivity within your business. In addition, cultural changes can have an effect on the layout of your office. For example, a more open floor plan can encourage a sense of community and collaboration among colleagues who are not in the office every day.
Our advice: Carry out research to find out where your employees or freelancers live. By doing this you will have a better idea of convenient locations so that when the time comes you know where to look for new commercial property. Do the same for your client base, it may be trickier to find this information, so consider the nearby transport links.
Monitoring your costs as a business is important for keeping your bottom line low and profit margins healthy. An office relocation can save you a significant amount of expense, so it’s important to consider alternative options on a regular basis. By creating a relocation strategy you can set a schedule for reviewing the amount of rent you can afford or prepare to move the next time your lease is due to expire.
Our advice: Ensure you seek professional advice before committing to new contracts with commercial landlords or companies. You can upload your lease here for a completely free assessment to find out. Also, have a glance at the other FREE resources and tools we offer.
Advances in mobile, wearable and virtual technology have changed the way we live and work. Improvements enable businesses to operate more efficiently and allow employees to communicate easily with colleagues and customers around the world. As gadgets become more affordable and common in the workplace, you will need to incorporate space for them in your building or office. For example, do you have a meeting room that could be used for video or ‘smart’ conferencing or somewhere equipped for virtual meetings?
Our advice: Research the kind of technology you will need to provide effective communications for both employees, colleagues and clients. Then ensure that the office space you consider for your business can accommodate the technical requirements.
Depending on what type of business you run, the office you use or invite clients to can influence your success. Even the location you choose speaks volumes about your company. Many advertising agencies, for example, will want a contemporary and open space where people can see creativity in action. You may, however, require something more refined or with separate meeting rooms and offices. Thinking about the type of office space you need or how your client base may change in future is something that needs to be incorporated into your relocation strategy.
Our advice: Find out where other similar businesses are located as there may be a particular area that suits your organisation. Remember our first point above – good transport links are vital for clients when visiting. For more information, download our Guide to Office Rents from this page.
If you are planning an office move, get in touch with Aspire here or on 020 3627 2557 to help you develop a safe strategy for relocating your business