10 Tips For You To Find And Plan The Ideal Office Space For Your Business

Introduction

A new office is so much more than a simple change of address, the property you choose will ultimately reflect your company values, culture and brand personality. It is therefore important to have a clear understanding of your requirements before setting out in search of new office space planning.

  1. Determine how much office space you need

Working out how much space you’re going to need in the new office is a good starting point. Do a headcount and consider the number of meeting rooms, private offices and other facilities such as kitchen etc. Use the free office space calculator to help you calculate what size office is best suited to your needs.

  1. Establish your office space planning budget

How much rent can you realistically afford and can this figure be maintained throughout the term of the lease? Don’t forget to factor in business rates and service charges into your office space budget.

  1. Which location?

Location is a crucial factor when choosing office space. Consider which location would be most convenient and attractive to both staff and clients. The location of your office can make or break your business, and will also have a significant impact on your rental costs – so choose carefully.

  1. Brief your Commercial Property Agent

The next step is to source and brief a local commercial property agent. They will need a clear understanding of your office space requirements; what facilities you need, type and length of office lease required as well as the limitations of your budget and timeframe. This information will provide a framework for them to assess the market and come up with a shortlist of suitable office properties for you to view.

  1. Viewing Properties

Viewing potential office properties can be a time-consuming process. Go to each office property with an open and clear mind and have the Office Space Checklist at hand to help you prioritize what considerations are most important for your business to perform effectively. Remember that first impressions count and last!

  1. Analyze your Commitment

How long do you want the office space for? An average office lease is between 5-10 years, but shorter offices are trending giving businesses more flexibility. Try to negotiate the inclusion of a break clause in the lease to give you the option of vacating the premises at some stage before the lease expires.

  1. Do your Homework

Before agreeing to take the space, you want to be sure you are getting the best deal possible, so ask your agent for a list of average office rents and deals that have recently been completed / achieved in that particular area. That way, you’ll be able to compare and weigh up your options and have assurance you are securing the best possible deal.

  1. Consider Office Layout & Design

The layout and configuration of the space is an important factor. Are you looking for an open plan office or cellular? If you are considering knocking down walls or erecting partitions you need to know whether this is a viable option and permissible with the Landlord.

  1. Office Lease Incentives

The details of the office lease are an important incentive when it comes to renting office space. Your property agent will probably negotiate several properties on your shortlist to see which one comes out more favorable. Be patient at this stage, as several copies of an office lease will need to be exchanged before a deal can finally be closed.

  1. Get Legal Advice

Once you’re happy that you’ve chosen the right office property, it’s time to handover the lease to a property solicitor who will examine the detail of each clause, ensure that everything has been clearly documented and that your commercial interests are protected.

What The Types Of Loyalty Programs?

Introduction

Every business wants in on loyalty and therefore wants to have more loyal customers. For this reason, the businesses often associate loyalty with loyalty programs, which are a relationship between a brand and a customer. The existence of loyalty programs in a business provides an encouragement to shoppers to return to stores where they frequently make purchases. Most people do not have a clear understanding of the difference between loyalty and marketing. They therefore think of loyalty programs as an airline that gives miles to frequent fliers, a hotel that gives points towards a stay or a restaurant that offers a punch card incentive. Indeed these may be called loyalty programs but in the real sense, these are marketing programs disguised as loyalty programs.

Types of loyalty programs

  1. Points programs – these loyalty programs let customers accumulate points that can be redeemed for rewards or free products and services. These are the most popular type as they are points based and are easy to set up. They have got a tangible value for the customer and are flexible and customizable. They also have the ability to drive a desired customer behavior.
  2. Spend programs – here, customers get loyalty credit for the amount spend in a business. This program is easy to understand, create and maintain. With these programs, churn rates can be cut down and transaction amounts increased effectively. The programs are also tangible and encourage repeat business.
  3. Tiered programs – this is an improved version of the points program. It gives a customer rewards based on the spending points. These programs can be highly targeted and easily customized which is a reason for their increased popularity. They decrease churn rate for most valuable customers and motivates customers to higher levels.

Conclusion

It is human nature to stay with a company that is easy to do business with. When different loyalty programs are used in a business, opportunities to interact and build customer loyalty grow exponentially. Customers like consistency and so once they know how the company operates, they can rely on a consistent experience which creates confidence.