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Selecting an Office Space

Selecting an Office Space

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As there are varied meanings of office space, so are there varied needs for Office Space and varied Office Spaces to fulfill those needs.


Office Space may be required by a company or an individual. The company can be a start up company like the case of Google which was started by two young entrepreneurs in a garage; or can be an established one which needs office to accommodate its expanding team or to open a new branch in a new city or to relocate themselves to a better area.


The type of Office Space required is also dependent on the numerous factors. Budget, nature of business, duration of investment, future growth prospects and demands of business, the work culture etc, all have to be kept in mind while selecting the office space.


Though most of the established big business houses prefer big office space, they either go for purchase or prefer to take on lease the whole floor. The small businesses and self employed professionals go for one room or cubicle type of space, which is just right for their present business and budget.


To find a suitable office area in the desired area, a company or an individual can either approach a broker or an agent or can alternatively hunt for the space on his own. Local newspapers, classified advertisements and billboards are some of the common means for property advertisements. In both the scenarios, it is pertinent for the company and the individual to be clear of the present needs, the future unforeseen requirements, the budget and the amount of present investment required. In case of going for the lease, the lease document should be thoroughly checked and verified by the attorney before signing on the dotted line. And in case of the purchase, apart from thorough verification of the property and the papers, the buyer should be clear about the expected growth in business 5 years down the line. In case he sees that his business will soon outgrow and he will have to go for another round of purchase in 2 years, in that case it will be advisable to go for a bigger and better bet or opt for rented space, as desired. 


A multinational company willing to invest high on Office Space but low on its maintenance, would prefer to go for the space on malls or facility managed buildings. A big business house alternatively on the basis of the type of business might be more keen in purchasing an office than renting. And a self employed youth or small business house might be interested in renting a small space which is not heavy on the pocket and at the same time the maintenance and other management hassles are also less.


So list down the priorities and the preferences, before stepping out in the market with your demand. 

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