How to Find Space for Your Business

Planning an Office Move: What are the critical first steps?

By  David Haug

When you begin to look at moving offices, figuring out the requirements for your new space is one of the most important things you should do at the beginning of your search.

In Week 1 of your search, think about the future and how you anticipate your company will develop over the next five to seven years. Will you be adding employees or downsizing? Will you need conference rooms? A reception area? Parking spaces for employees and customers?

You should also ask yourself about your frustrations with your current space. Are you unhappy with the neighborhood or the businesses around you? Are you unhappy with the way your landlord is maintaining your building? Do you not have appropriate space to meet with clients? Are you always fighting over parking spaces with other tenants or even your own customers?

Then you should think about your location needs. If you have a retail business, is it easy for your customers to come to you? Is a parking lot close by? Is street parking adequate? Is it easy for customers to get in and out of your parking lot?  Do you have the visibility you need? Do you have enough space inside your shop for your customers to see everything you have to offer and for them to browse comfortably?

Also consider if you need to split your business into multiple locations. If you’re in Madison, for example, perhaps now is the time to consider having an east-side space and a west-side space.

None of these decisions should be made solely on your own. Meet with your managers and department heads and talk to them about what they think the company and their departments need. Talk to your broker about what spaces are available in your community and how they are priced. At Lighthouse CRE we will provide you with a free market report that shows you what spaces are currently available and at what cost. This can be very helpful when comparing your current space to new options.

Plenty of things change in the marketplace all the time.  If you have been in the same location for a number of years, it is very likely new developments and new opportunities await you. Even if you decide to stay put, 6 to 9 months before your lease ends is the ideal time to see what is out there.

About Lighthouse Commercial Real Estate

Did you know Lighthouse Commercial Real Estate offers commercial real estate agent matchmaking services? If you have a commercial real estate agent need, visit Lighthouse Commercial Real Estate and request a free initial consultation. We will answer any questions you could possibly have about commercial real estate. Once we understand your commercial real estate needs, we’ll provide you with the guidance you need to choose the top commercial real estate agent for your needs. Contact Lighthouse Commercial Real Estate today!

David Haug

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About the Author

David Haug is a Madison WI commercial real estate broker. He is passionate about helping clients, customers, and friends succeed in commercial real estate. He is also a raging Badger fan. #OnWisconsin Baby! Connect with David on LinkedIn:

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