Opening a new workplace is a huge endeavor. It takes a great deal of time, money and research to build a space that’s right of you and your company. But all the effort it’s worth if it means to move your business forward.
Planning ahead is a key factor in your office interior design. Whether you’re opening up your first office in New York or moving from an existing one consider these:
Should you open a brick-and-mortar office?
First, ask yourself: Do you need a brick and mortar office? Consider if and why you need a dedicated workspace. Think on how it will function and affect your company practices.
As a business owner, you make a lot of difficult decisions. These decisions can drastically change the direction your company goes over time. One of the most crucial decisions is whether to open a brick-and-mortar location or not.
80% of people now identify themselves as online shoppers. As customers make more purchases online, research show they are forsaking brick-and-mortar stores. In the past two years, there’d been a 7.5% drop in foot traffic in brick-and-mortar stores. This translated into a 5.5% decline in sales. Why?
Convenience, of course. hopping online is incredibly convenient because you aren’t limited by time or place. You don’t need to make the time to actually go to the store, fight traffic, leave your desk. You can even buy your groceries regularly while you work. Replace missing items in your cupboard as soon as you run out as you cook.
Now, if we put it like that, opening an office sounds like a complete waste of your time and money. But the answer is not that simple, as always. Depending on your business, the brick-and-mortar path can actually be a smart move.
Research has also found that more than two-thirds customers still prefer brick-and-mortar offices. According to the Retail Federation, the number of B&M offices actually grew by 4,000 in 2017. That translates into 2.7 new offices for each company that closed. Why?
Despite its popularity, e-commerce still needs to solve a few issues. Delivery companies can no longer cope, and returning online items is a hassle.
- What does your office need to do for you?
- What does it need to for your employees?
- And most importantly, what does it need to be for your customers?
Have a clear idea of what your office needs to be will help you take the rest of the decisions.
Work out your budget
It goes without saying that your budget will have a crucial impact on where you look for office spaces.
How you set up the move, your team, and your office furniture in your new office will all depend on your budget.
Take a good, honest look at your books so you can choose what to do and how best use your available resources. You’ll want to avoid skimming over your budget on this.
Remember, your budget goes beyond rent and initial moving costs. Don’t forget office equipment, furniture, and technology set up in this new space. Small details like reprinting stationery with your new address might sneak on you.
Even if you don’t need any financing, this will be a valuable exercise for you.
Ask yourself these questions before you begin:
- What do you need on the first day to open the doors of your office?
- What will your fixed and variable costs be?
- What can you or your team contribute to keeping costs low?
- Can you get any donations?
- What can you do without at first (decorations, accessories, plants)?
The less you need to open your new office from day one, the sooner you can start making a profit.
With the right planning, opening a space that you will enjoy being in is possible. You can have an office that isn’t cramped or cluttered. A quiet place that will help you and your team be productive and successful in your career is possible.
In our next article, we’ll talk about more considerations when opening an office in New York.