Accounting firms today are much more different than twenty years ago.
Gone are the days of accountants stuck in a cubicle or closet-sized room. Offices are now open and modern for better collaboration between staff and management. The most successful accounting firms use the latest tech and gadgets. The spaces are also more inviting for employees, partners, and clients.
Choosing office space for your new accounting firm is one of the most important decisions you'll ever make for your fledgling company. Getting it right the first time is crucial, and the challenges of finding the right space in an ideal location are real.
Tips When Searching for Your Ideal Accounting Office Space
Here are a few proven tips to make your search process run without a hitch.
1. Research and Reconnaissance
Do a property history search when you're moving into a new geographic region. Make sure to cover everything, from your potential competitors in the area to available candidates for hire. It would be best if you could also research the employee salaries and the standard billing rates for accounting services in the area.
2. Determine Your Budget
Before choosing an office for your accounting firm, make sure to set a financial budget to keep you from overspending. Selecting a large yet unfurnished office can set you back thousands of dollars in renovation and furniture costs. Consider hiring a real estate agent who specializes in office rentals so you can get the best deal.
3. Location, Location
Consider factors like office security, workplace safety, employee safety, parking, freeway access, the amount of renovation or construction needed, and if the location is near other businesses. You can save costs by choosing an office space that includes free parking or stacked parking at a lower price.
4. Take Essential Staff With You
If you've already established a small office and are relocating, talk to staff members crucial for your firm's operations. Ask them if they're willing to make the trip with you. If they can't go with you, hire a new team member who has proven connections in the new location. If possible, hire a manager who can help recruit local talent and has close ties to the community. When you're hitting a wall getting your first hire, consider hiring a headhunter.
5. Negotiate Lease Terms With Your New Landlord
Refrain from accepting the initial lease agreement until you can sit down with your landlord. Negotiate costs such as standard area maintenance charges and tenant improvement allowances. Discuss deposit amounts, late payment terms, and requirements for insurance. There are also firm vs. personal guarantees, and the minimum assured building occupancy levels. Lastly, clarify who pays for repairs, utilities, and leasehold improvements.
6. Setting Your Brand Identity
Now that the office space search is out of the way, your next move is deciding on your new brand identity. Everything hinges on what your goals are, and what type of talent you want to attract and keep for the long haul. Determine what kind of accounting firm you want to be: conservative and traditional or forward-thinking and innovative. All decision-makers should be on the same page when it comes to brand identity.
7. Create Your Company Culture
Your company culture determines how your partners, staff members, and clients experience the office. Create a culture based on your brand identity and company goals. First impressions last, so make it a point to reflect what your firm is all about starting with the reception area. Open spaces entice workspace collaboration, and abundant natural lighting has been proven to increase productivity.
8. Community Involvement
Getting involved in your new community will help rebuild your network. Join trade groups and community organizations that align with your marketing goals. Get to know the local city administration, business leaders, and council members. They can help refer you to business prospects and other professional service providers for your network.
Conclusion
Accounting firms who take the process of choosing a new office space and setting it up to work flawlessly with today's modern workspace standards are enjoying better staff collaboration and productivity. When deciding on your next office, following the tips mentioned above can help make the search and design processes a little easier.
Author Bio: Emily Andrews is the marketing communications specialist at RecordsFinder, an online public records search company. Communications specialist by day and community volunteer at night, she believes in compassion and defending the defenseless.