Picking out the right office space is so
important to the success of your business. The wrong location can cost you your
business, the most talented employees and your clients. After completing your
company registration in UAE, office location should be at the forefront of your
mind as it significantly affects your ability to grow.
Marketing isn’t the only place where the 5 Ps are applicable.
Your decision when choosing your office should be led by the 5
Ps in order for you to make a choice without too much hassle.
Future Prospective
Business owners should analyse the office space and consider
whether it is flexible enough to be expanded. When entering a lease, you are
essentially fastening your business to that space. Over time, companies can
change and many factors may change the space requirements.
Product
Once you have gone through company formation in UAE, you should
consider your business model. The best way to do this is by going through the
activity of your company. Does the office space you’re looking at have all the
necessary requirements? For example, if you have a restaurant business, you
will need to have a back door that has access to the kitchen, accessible
parking, and a formal entrance. It is advisable to go through the daily
activities of your business and think of all the requirements of your
office/business premise. If you are missing electrical plugs and other
structural changes, these can definitely be fixed - but will the property allow
you to go ahead and fix them? Consideration for the rules and regulations of
the office space should be kept in mind before you sign a lease.
Parking
In UAE, parking can be an issue in commercial zones. For your
business to run as effectively as possible your clients should have a pleasant
experience when visiting you and therefore parking availability at the proposed
location is vital. Many employers tend to forget this key point and they
therefore suffer a loss of business. If there is a lack of parking, then
perhaps neighboring parking lots should be kept in mind that can host employees
and clients.
Price
You should consider the daily expenses of your business and the
ability for you to hit profits for a new office space. Expenses can include
office furniture, ongoing costs such as utilities, and equipment. If you find
yourself under a tight budget, a couple of options you could consider are:
·
Subletting - this is
where you rent out a space from another company. This option is cost effective.
However, the disadvantage of this option is the lack of control of the space
and if there is business growth, you would need to find another premise. You
will also need to ensure that the company is allowed to sublet.
·
Co-op - this is where
several businesses rent out a large office and share common facilities such as
the kitchen, meeting rooms and reception area. Renting out a large office with
extended facilities can be extremely beneficial such as renting out a space
with complementary businesses. Business owners can consider partnering with
advertising or IT firm in order to increase business efficiency.
Place
The location of an office should be the base of your
decision-making and consideration as to whether the location of the office is
convenient for your employees should be a priority. A long drive or an
inconvenient location may push away your key employees to choose to work
elsewhere. Alongside your team, an emphasis should be on the clients to ensure
that they can reach your location with ease. It is important to keep in mind
the cost benefit analysis of price versus location. Some business owners may
choose to locate on the outskirts of the city or in construction zones.
However, would this suit your business or would it hinder it?
One thing that is of utmost importance is that your office space
if the face of your business. It must reflect and fit your business model in
order to bring success and more business. You should consider the above when
selecting your office in order to help you make the best choice for your
company.
Take your own first small
step and contact the business setup specialist team at Elegant Business
Services for more information: +971 6 740 4211 or email us on info@elegantbusienss.ae
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