Get All Access for $5/mo

Space Value

If you're in the market for new office space, take someadvice from an expert. Jack Gold, president of Sterling ManagementLLC, a New York City relocation consulting firm, suggests sometips:


*Determine how much space you need. Don't guess or estimate;mistakes in this area can be extremely expensive.


*Establish a budget both for the space (your rent) and for yourmoving and other relocation expenses.


*When considering a facility, find out what the rentable space isvs. the usable space. The rentable space is what you'll payfor; the usable space is the functional room you'll have.Typically, you'll pay rent for space you can't really use,including hallways, restrooms, lobbies, elevator shafts andstairwells.


*Find out about the building's power supply. Older buildingsmay not have adequate electrical power to operate computers, airconditioners and other equipment.


*Ask about building service and access. During what hours areservices provided? Many buildings turn off air conditioners andheaters at night. Will you have late-night or weekend access ifnecessary?

If you're overwhelmed by the relocation process, considerhiring a consultant. An expert will likely make the process go muchmore smoothly, allowing you to focus on running your company.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Starting a Business

He Started a Business That Surpassed $100 Million in Under 3 Years: 'Consistent Revenue Right Out of the Gate'

Ryan Close, founder and CEO of Bartesian, had run a few small businesses on the side — but none of them excited him as much as the idea for a home cocktail machine.

Growing a Business

5 Reasons Why Time-Tracking Can Put Your Business in a Chokehold

More and more businesses are adopting time-tracking software to manage their operations, but is it all it's cracked out to be?

Franchise

The Top 10 Coffee Franchises in 2024

From a classic cup of joe to a creamy latte, grab your favorite mug and get ready to brew up success with the best coffee franchises.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Marketing

How Small Businesses Can Leverage Dark Social to Drive Word-of-Mouth Marketing

Dark social accounts for 70% of social media shares and is crucial for small businesses. Here's how you can tap into this hidden marketing opportunity.

Business News

'Jaw-Dropping Performance in 2024,' Says a Senior Analyst as Nvidia Reports Earnings

Nvidia reported its highly-anticipated third-quarter earnings on Wednesday.