In the world of business, we’re all going remote. Now, there are actually many of us that started out remotely in the first place. As a startup or solopreneur, this is nothing new. But while many are closing down offices and looking to take on remote workers, there are those of us that are actually thinking about getting physical workspaces. However, when that is something that you’re considering, you really need to be thinking about what it looks like to invest in a physical location and what key things you need to bear in mind. We’re going to run through these points right now.

Where it Will Be

First up, you may find that you want to spend some time thinking about the right place for your physical location to be. You want it to be easy to get to for yourself and your employees, but also any customers that may be passing by or clients that need to reach you too. Plus, you may find that you want to weight up the style of different buildings and what you can get in different places.

How Big it Will Be

From here, you’re going to want to think about the size of the location and how much space that you need. This can sometimes feel like a bit of a tough one. You might think that you need a certain size now, but what about when you grow? It can be hard to work out a balance so that you’re not overpaying for a space now, but then that you also have all the room you need for staff and equipment in the future.

What it Will Cost

One of the most important factors is always going to be cost. You’ll want to think about what you can afford to pay on rent each month and see what that looks like over the cost of the year. Be sure to run things against your budget to ensure that the cost of a premises won’t affect your profit margins. Don’t forget there are also hidden costs to contend with that come with owning or managing a property. For instance, you might need to manage and maintain the land. This could include removing trees that are dangerous. One of the best ways to handle this is to find a great tree removal service that is both cost effective and highly efficient. 

How it Will Run

At the same time as some of the monthly costs and upfront costs that you need to layout for, you’ll also want to think about how it will run. You’ll need to pay for the running costs as well as things like commercial janitorial & cleaning services unless you decide to do that yourself. You may need to invest in security measures too, along with things like computers and furniture.

Whether You Actually Need it

Finally, you’re going to want to think about whether you do actually need a physical location. As we know, so many businesses are opting for the remote route at the moment. So you may find that you don’t have to have a location in order to remain competitive. So really weigh up the pros and cons of your own situation and try to see if this is something that you really need.