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So your business is doing well, or you are looking for an office for your new business? Either way, it involves selecting an office that fits your purposes within your budget. Picking the suitable office space is critical for any business size or stage you are in; either starting up, flourishing or expanding, the right office will give you the exact boost it needs. Modern clients and employees expect a productive, beautiful and functional, and fun office. To tick all the right points and make the proper selection it can be adaunting tasks, here are a list of factors that you should consider when selecting an office and how to make the best decision evolving those
LOCATION
The most integral part of moving your business into a new place is finding a suitable location. Dhaka city can offer you a significant number of options. If your business is comparatively small, you can consider an apartment or residential buildings as well as shared or coworking offices in Dhaka. Residential buildings can provide you with space at a much lower price, but comes with a few downsides as well.
Based on the mode of the transports used by most of the people the distance from the nearest bus station or main road is a major point to consider. Also for visiting clients you would like a office that can be easily navigated. It is a no-brainer that an office spot near main roads or besides main roads would be excellent, but costlier. A bank or an ATM booth within walking distance from the office would be ideal for personal or business transactions. If you provide lunch at your office, you may not need a restaurant, but it is always convenient to have some snack bar nearby. For inexpensive refreshments like tea and cigarettes, local tea stalls known as ‘Tong’ are the unrivaled auto choice for everyone in Bangladesh.
COST
It’s not a secret that renting a new place for your office would be expensive. Before looking for a perfect commercial site, you should think about your expenses and income. After leasing an office space, you need to spend money on renovations, decorations, sanitation, furniture, internet connection, etc. In Dhaka, the amount of rent varies from area to area. Monthly office rents in Baridhara, Mohakhali, Gulshan ,Banani, Jhigatola will be relatively higher than Mirpur, Rampura, Badda. For instance: the rent of a 1200 square feet office may cost around 25,000 tk-30,000 tk while the same office you have rent is around 60,000tk or more in Gulshan or Banani area. Your cost depends on the space and the area that you want to choose. Comparing the amount you are willing to pay with the place suitable for your business, you need to pick the best bet to make your money worth it.
An attractive office needs a striking decoration. Design and decoration don’t come cheap. If the decoration cost doesn’t become a matter of financial stress, you can hire an interior designer to get a suitable decoration plan. whichever option you may choose, make sure you clarify and understand each vote on the agreement, consult a friend or lawyer w might be an expert on this
FACILITIES
Another thing to consider is the availability of facilities that the building offers where you want to take the rent. The quality of an office space’s infrastructure means a good standard of backup power, lifts/escalators, fire safety instruments, internet connection, telephone connections, postal services, utility connection, security, etc. If you are expecting expansion, you may prefer a building with open spaces available for growth. Parking is something you need to consider when your colleagues are using private vehicles like motorcycles or cars.
BUILDING STANDARD
It’s an important feature to notice that whether the government approves your rented building or not. In 2019, a hideous fire broke out in Banani FR tower, results in a death of 19 people. Many controversies arose at that time when an investigation proved that RAJUK didn’t approve the building. If you don’t want to put your business in that trouble, you need to make sure that the commercial place you have chosen for your office has legal papers and approved by the development authority of the government. Your owner may not want to share their legal documents if s/he considers them confidential. If so, try to gather information about the authentic identity of your landlord/s.
MANAGEMENT
As you will put a lot of money into renting your new office, you have to scrutinize the management of your landlord/s. You can talk with the previous clients they have dealt with and ask them why they have left the building. You can also ask the neighborhoods and gather some details about the management team. Talk to them and try to figure out how much experienced they are in this field. Please note their behaviors, whether they are friendly and cooperative or hostile and cash hungry real state owners. Once you have signed the lease paper, it’s totally on you to get the best benefit from the property.
Renting a new office can be overwhelming for a business owner, but it brings a massive opportunity along with significant risk. The place you have decided to operate your start-up should give you the proper return on investment (ROI) and promise healthy business growth. To lease a new commercial place needs a lot of research and patience. The more you do your research, the more possibilities for you to get an ideal business place. You need to keep in mind the features mentioned earlier before getting involved in any rental activities. A decently decorated office can helps you to make a top-rated brand image for your company and enjoy the profits of good entrepreneurial decisions you have made throughout your lease.