The inevitability of being a successful business owner is outgrowing your current office space. Keeping your business in a space that is overcrowded can slow business growth, productivity and reduce your profits, which is why it’s important to know when to make the transition to a larger space.
Here are 4 signs that it’s time for your business to move to a larger office space:
1. Your office space is crowded
If your office space begins to feel too crammed, it’s an indication that you may need to consider moving to a bigger premises. Shared desks, full filing cabinets, storage closets, and a lack of personal space between employees is a sign that your current
office space is too small to accommodate your workforce.
Another sign of an overcrowded office space is a lack of parking space. If your employees are competing for parking every morning, it means there are too many people and not enough space. This will result in decreased productivity and can also put off potential clients or employees.
2. Your business’ office space is outdated
An outdated office space could indicate that your business has been on the premises for too long. It may also mean that the building you occupy is no longer able to accommodate your business’ needs. Furthermore, outdated office spaces can give people the perception that you aren’t performing well, which can be a deterrent for attracting new clients.
You may find that a new, spacious and modern office will offer you better utilities and an aesthetic that creates a positive impression about your business.
3. You no longer have storage space for your inventory
You’ve tried decluttering your storage space, but there still isn’t enough space to store all your inventory. Although you could consider purchasing or renting storage units, the additional cost can be better spent on a new space.
Storage units also can be inconvenient and require your employees to make many trips to retrieve items. Many times they are located far away from your office space. The solution would be to find a larger space that easily accommodates all your stock.
4. Your business needs are no longer compatible with the commercial property
As businesses progress, the need for new equipment, technology, and workforce are necessary to run operations smoothly. Sometimes this means customizing office space, but this isn’t always possible in buildings with limited remodeling options.
It’s important to factor in your 5 to 10 year plan when looking for a new office space. Your business should be in a space that allows for expansion and growth for many years to come.
The 4 signs above should give you insight into when it’s best to consider expanding your office space.