best-time-look-for-office-space-bangalore

Best Time to Look for Office Space in Bangalore

  • By Admin
  • 05 June 2017

A lot of things should be considered while looking for an office space in a city like Bangalore. While looking for an office space for your business you should know the company size that you are looking for, location, business requirement, facilities etc. The bad part about this is despite of knowing all these information there is no algorithmic formula which will let u know the fact that what would be the best time to look for an office space. Usually the best time is a matter of perspective for most businesses. Some business want to invest in office spaces when they are still in the planning phase so they have place to start with, while start-ups on the other hand like to wait till the last moment. So it can take a month or several months or probably even a year.

While we are at it lets have a look at the office space considerations while renting/ buying one..

  1. Location: Location is a crucial parameter if your business is targeting a hyper-local customer base or is dependent on a customer in a particular area. In such cases waiting until the last moment to start searching for office space can have detrimental effects, you might miss out on prime locations or being forced into a sub-optimal leasing situation. Also location of your office has direct impact on recruitment and retention. Employees appreciate proximity to amenities and public transportation, while ease of access is luxury for customers in a city like Bangalore
  2. Size of the company: It depends on determining the current and future spatial requirements for your business, so that you can accordingly plan for your office space. If your size is small and it’s going to remain same for a significant amount of time. It is possible for you go ahead and buy/ rent an office space. Further if your current employee size is large and you are looking for a bigger and better place, it would be good idea to not wait any further.
  3. Business needs: Business needs and looking out property are related to each other. The more complex your business needs, the longer your search may be to find the optimal office space and landlord. It would be good idea to identify and list down all your business needs beforehand you start searching for office space
  4. Facilities needed:Again Facilities and the time to search are inversely related to each other. If you require more facilities like proximity to bus stops/ metro stations, nearby food courts/ restaurants/ ample parking space, proximity to residential flats; you might require a lot of time. In this case also it would be a wise idea to get done with your research and analysis first and then start the search.
  5. Cost Considerations: Budget or cost consideration is one area which requires massive brainstorming. Listing down the properties which suits your business needs and requirements and doing a cost-benefit analysis is advisable. If the return on investment is high, it’s wise to proceed with the office-space as early as possible, else negotiate.
Previous post Next post