There comes a time in every entrepreneur’s life when the only thing left to do is move out of the shabby home office and into a brand new piece of commercial real estate. As the wheels of your corporate wagon start to turn faster, you’ll have to make space for expansion – sometimes even quite literally so. But how exactly can you tell the time has come to relocate your line of business to commercial office space?
1. You need new equipment
As your business expands, your brand will have to step up its tech game to maintain productivity at some point. If you’re planning to invest in new equipment and technologies, your home office will no longer be a viable option for future business conduct size-wise, so you’ll have to relocate your line of work to a custom-built facility or private office that can take in all the gear you need for the job. The same holds if you’re doing business in an industry which relies on cubicle-based work rather than heavy machinery; your staff will need enough space for comfortable work, and you should strive to organize the cubicles with long-term productivity and employee satisfaction in mind.
2. You need to hire more staff
Remote employees can help patch up workload gaps, but in case your business’ daily needs are rapidly growing, it’s a sign you’ll need to hire more on-site staff, which usually means you’ll have to move to a bigger office. To get a better idea about optimal office size based on your business needs, multiply the number of employees by 125 square feet, and add about 1,000 square feet to the figure which will be used to set up break rooms, conference rooms, reception desk, and other specialty areas. If you plan to keep expanding your company in the future, add 10-20% to total office size to accommodate for future growth.
3. You need a focus boost
In most cases, working from home entails various distractions that can punch deep holes in your efficiency and contribute to procrastination, frequent breaks, and steadily rising overtime. When common home distractions begin to tug at your mental sleeves, it’s a surefire sign it’s time to move to business-grade commercial real estate. Alternately, you can book a seat in a co-working office for a few days a week and gradually save toward a bigger office or a piece of commercial real estate with a better location.
4. You need social interaction
All home-based work and little play is a shortcut to loneliness, mood swings, and depression. For the sake of your psychological and emotional health, it may be a smart idea to relocate your line of work to a private office or collaborative work environment. Social interaction is critical for an entrepreneur’s mental wellbeing, and it’s particularly important if you’re doing business in a creative niche. Isolation will cause your work enthusiasm and creativity to dip within months, so moving out of your lonely home office will be an investment in business sustainability and long-term growth.
5. You need meeting space
If you have the habit of organizing meetings with clients and partners in coffee shops or in your living area, you’re lucky you’re still in business. Sooner or later, growth-minded up-and-coming brands will face the need to move their line of work to a professionally equipped commercial space with private office suites, reception areas, conference rooms, and other business-grade amenities. Let’s be realistic here: very few clients will be impressed by your grandmother’s taste in upholstery or your self-grown botanical garden. Try not to smash your corporate eggs before they even get a chance to hatch.
Although working from home does have its perks, it’s not a viable business model for just about every entrepreneur. Once your workload begins to grow and your staff turns edgy or hungry for a change of environment, you should adjust your corporate rudder accordingly and take steps to move your business to commercial office space. Good luck!
Thanks to Chloe Taylor from SmoothDecorator.com for giving us insightful information on how to know when to relocate your business!
Photo Credits: Pexels