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5 Factors to Consider When Looking for an Office Space

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Typically when you are looking for an office space, it is the cost of operation that will be at the forefront. After that, location is crucial as well. But there is more than just the price and location to consider.

When you are looking at the Toronto real estate market for places that will work as an office space, factors like accessibility, the area of the city and whether it is a suitable space for clients and customers need to be considered. No matter what size you need, there are some key points to consider before making your decision.

Research Ahead of Time

Before you begin physically looking at spaces, you should research beforehand. You want to give yourself enough time to look through different spaces for different types of companies. The last thing you want is to be rushed into a decision and end up regretting it later on.

While researching, factor in what you need the space for. Look at different styles that other businesses are doing and see what works for your business model. Basically, after all your research, you want to have a general idea of what you should go and look at.

Consider the Location

The location should be near the top of your list while looking for a place. Where you locate your business could either make or break it. The wrong area could hide your business away so much that clients and customers don’t know where to go. But the right spot could mean your doors are continually opening to new customers.

Research the Potential Space

When you have an idea of a space that is suitable for your business’ needs, research everything there is to know about the space. Who are the landlords and what are their reviews? Is the building up to code or in need of renovations that could inhibit your business?

Your research should include physically seeing the space with the potential landlord. Have them walk you through everything, even the smallest details. See if you can look at what else is in the building too.

Consider the Cost

The cost of a building is a huge factor when deciding where to locate. Although you might have found the perfect location but is the monthly rent going to put you out of business? Or maybe you can afford to have your business right in the heart of downtown. Either way, though, factor in the new monthly expense and make sure your business can afford it.

Make Sure It Is Accessible

When looking at the accessibility of the space, it needs to be simple for not just yourself, but for clients, customers and any suppliers that need to come to the building. Accessibility should also include parking and public transportation. Basically, the easier it is for everyone to get to your building, the more likely people will come.

So as you decide to find a new space that will be an office for your business, consider these five factors before making your decision. The wrong space could break your business. But the right location could make your business even more successful than you expected.