When a business grows out of a small home-based business, it’s time to consider moving to an office. Controlling employees, negotiating with customers, storing goods – if you think that you cannot cope with these tasks without an office, then you need to think about renting or buying it.
This article will discuss how to choose the right office space in India for your business without harming your nerves and wallet.
When you don’t need an office?
It is possible to conduct business without an office if the business does not involve regular offline negotiations, and you do not need to constantly monitor employees on the spot.
Office lease can be neglected if 2-3 employees in the home-office mode continue to work in the same mode. This way you will save on rent, especially if you have arranged your remote work correctly.
If the business has grown into a franchise with representatives in several dozen cities, an office is necessary at least for solidity.
The need for an office often depends on the industry of the company. In home-office mode, you can tutor or teach. Copywriters, designers and programmers have also been working remotely for a long time.
For small online stores, doing work from home is not a difficult task. If the apartment and utility rooms cope with the functions of a warehouse, then an office is not needed.
Many people are afraid to transfer employees to a remote location: it seems that people from home will work worse. At the same time, the efficiency of work depends rather on how the work process itself is organized.
Buy or rent an office space?
There is no definite answer here. It is necessary to take into account the benefits for your business – both methods have their pros and cons.
So, for an offline store, rent is better. Whether there is a lot of traffic and competition, you can only determine after several months of work on site.
Renting office space in Noida is also suitable for novice businessmen who need an office. This is especially true for industries where there is constant contact with customers: sales, outdoor advertising, and printing.
Buying an office can be a good investment if the premises are well chosen. An office in the city centre can be resold or rented out in case of business problems.
Where the office will be located – on the outskirts or in the center – depends on the specifics of your business and its size. Thus, the average revenue of a furniture store per week pays for the lease of the premises in which it is located.
But furniture needs a warehouse. A small online store will also need a storage room, and such convenient warehouses are located far from the centre. Some companies are trying to select premises for themselves closer to the centre.
It is prestigious and convenient if the work is connected with constant communication with clients. But renting an office in the central districts is usually at least 2 times more expensive than premises on the outskirts of the city.