Picking out the right office space is so important to the success of your business. The wrong location can cost you your business, the most talented employees and your clients. After completing your company registration in Dubai, office location should be at the forefront of your mind as it significantly affects your ability to grow.
Marketing isn’t the only place where the 5 Ps are applicable.
Your decision when choosing your office should be led by the 5 Ps in order for you to make a choice without too much hassle.
Future Prospective
Business owners should analyse the office space and consider whether it is flexible enough to be expanded. When entering a lease, you are essentially fastening your business to that space. Over time, companies can change and many factors may change the space requirements.
Product
Once you have gone through company formation in Dubai, you should consider your business model. The best way to do this is by going through the activity of your company. Does the office space you’re looking at have all the necessary requirements? For example, if you have a restaurant business, you will need to have a back door that has access to the kitchen, accessible parking, and a formal entrance. It is advisable to go through the daily activities of your business and think of all the requirements of your office/business premise. If you are missing electrical plugs and other structural changes, these can definitely be fixed – but will the property allow you to go ahead and fix them? Consideration for the rules and regulations of the office space should be kept in mind before you sign a lease.
Parking
In Dubai, parking can be an issue in commercial zones. For your business to run as effectively as possible your clients should have a pleasant experience when visiting you and therefore parking availability at the proposed location is vital. Many employers tend to forget this key point and they therefore suffer a loss of business. If there is a lack of parking, then perhaps neighboring parking lots should be kept in mind that can host employees and clients.
Price
You should consider the daily expenses of your business and the ability for you to hit profits for a new office space. Expenses can include office furniture, ongoing costs such as utilities, and equipment. If you find yourself under a tight budget, a couple of options you could consider are:
- Subletting – this is where you rent out a space from another company. This option is cost effective. However, the disadvantage of this option is the lack of control of the space and if there is business growth, you would need to find another premise. You will also need to ensure that the company is allowed to sublet.
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Co-op – this is where several businesses rent out a large office and share common facilities such as the kitchen, meeting rooms and reception area. Renting out a large office with extended facilities can be extremely beneficial such as renting out a space with complementary businesses. Business owners can consider partnering with advertising or IT firm in order to increase business efficiency.
Place
The location of an office should be the base of your decision-making and consideration as to whether the location of the office is convenient for your employees should be a priority. A long drive or an inconvenient location may push away your key employees to choose to work elsewhere. Alongside your team, an emphasis should be on the clients to ensure that they can reach your location with ease. It is important to keep in mind the cost benefit analysis of price versus location. Some business owners may choose to locate on the outskirts of the city or in construction zones. However, would this suit your business or would it hinder it?
One thing that is of utmost importance is that your office space if the face of your business. It must reflect and fit your business model in order to bring success and more business. You should consider the above when selecting your office in order to help you make the best choice for your company.
Take your own first small step and contact the business setup specialist team at CREATIVE ZONE for more information: +971 4 567 7333 or email us on [email protected]
