Does Your Company Need to Upgrade to an Office?
In The Market For An Office?
Perhaps your company grew quite a bit in 2018 and now you’re considering upgrading to your first physical location or a new location. It can still be tricky to figure out whether it is worth it or not to upgrade. There are many benefits and some downsides, mainly the new cost you will be taking on, but you can add a great deal of cohesion and establishment for your business by leasing or buying office space.
Meet with a Fort Lauderdale real estate attorney to help you decide, along with the tips below:
Do you need to impress your clients?
Working out of the home office might work for some professionals, but others may need to meet in person with their clients on a regular basis. Even if you start off in a home office, you may need to eventually meet with higher profile clients outside of the office, and it can be inconvenient and even unprofessional to have to meet in a coffee shop or in a shared workspace area.
If you are finding that the number of meetings you need to schedule is going up, and these meetings are integral to the growth of your business, you may want to impress clients with a physical location.
Is your productivity being hurt?
Do you find that your current space (or lack thereof) is hurting your productivity in any way? Is it noisy at home or in your neighborhood? Do you have a designated office area? Are your employees having trouble accessing your current location?
If your productivity is being harmed in any way, it is certainly worth considering investing in an office space, through leasing or buying. Just a small effect on productivity or morale can have a huge impact on your bottom line, and it often isn’t worth it for the cost savings.
Can you afford the expense?
When it’s all said and done, affording an office space comes down to the numbers. You need to sit down with a real estate attorney in Fort Lauderdale, your accountant, and other advisors and determine whether or not it’s the right time to upgrade financially.
As long as you have the budget, there are numerous options in the Fort Lauderdale and South Florida area that can suit your needs for a physical location.
Call Schecter Law today at (954) 779-7009 for assistance with making your decision on upgrading to a new location.