Reducing space usage and relocating to smaller premises will reduce rent costs (where the new premises have a similar cost per metre as the current premises). Businesses can reduce the space they use by:
- Going 100% paperless - documents and files are scanned and archived online instead of being stored as paper files in cabinets.
- Embracing a mobile working culture - allowing employees to work wherever they like, moving between home, the office, or other locations.
- Reducing their workforce - through outsourcing and hiring independent contractors.
- Redesigning their space - there is always some dead space that is costing money.
- Doing away with empty desks - the average office desk goes unused 55% of the time (at an average cost of $27,000 per desk per year).
- Reduce the space used by the business.
- Calculate how much space the business will need in the future to meet its objectives.
- Consider when the current lease expires and ask the landlord whether they will allow you to exit the lease earlier (upon making a one-off payment to break the lease).
- Research different locations - gather information about the demographic and economic characteristics of the areas you are interested in.
- Find out about other businesses in the area - other local businesses that might complement your business' product or service.
- Research your competitors - find out where they are located and the type of premises they use to sell their products and services.
- Contact local councils - find out more about your area, any future or planned development, zoning, rates and business activity in the region.
- Consider the current and future needs of your business - ensure your chosen location is compatible with your business goals and objectives.