With the end of the contract with your landlord for the current office space that you are renting for your small business looming, you need to decide your next step. It is crucial that you plan to avoid problems as the end date of the contract approaches. You do not want to delay your business operations because you are yet to find the right office space. These are the choices if you want to know what is next for you.
Renew the lease
If you liked the place where you are staying now, and you do not want to go through the hassle of moving into a new place, you can stay there. You also do not want to interrupt the operations. Your employees might also find it difficult adjusting to a new office space. Make sure though that your employees still fit in the area and the daily operations will continue as usual. At this point though, you can renegotiate the terms since you are extending your lease.
Find a new place to lease
If your business is changing and the number of employees is growing, it is time that you consider finding a new space for your business. You do not want to continue in the same space when you already see that your employees have a hard time doing their jobs. It is also a positive sign when your business is expanding. It means that you are gaining enough profits to afford to hire more employees to do the work. As long as the new place is convenient for all employees and it is affordable enough given your business’ current finances, you can pursue it.
Buy an office space
If you already have a stable business and you could afford to buy office space, you can go ahead and do it. However, you need to be sure about this decision since you will own the place. You cannot decide to move again when your company begins to grow as you already purchased the site; unless you have other things in mind for space later. This option works if you can afford the cost or you found a reasonable financing option.
Regardless of the option you choose, you need to learn how to negotiate the terms first to find a new space which is affordable enough. Your business is still growing, and you have a lot of expenses. You do not wish to spend a lot on office space and adversely affect the rest of your expenses.
You also need to deal with your current landlord before moving out. Make sure that you clear everything with the landlord, including your contract and deposit. You do not want to have conflicts before you leave. It also helps if you hire experts in end of tenancy cleaning London offers because you do not want to leave a messy office space. You want to leave it like it was when you first rented it. You also need to start a new chapter without any problems from your previous office space.