He has decided to go his own way and set up a business consultancy. You will most likely want to consider getting your own office space. In addition to making sure your rent payment doesn’t create serious cash flow problems in the medium term, you should consider these other factors:

The anchor holding:

Every office building will have some anchor tenants. It is important to find out from the building management when your lease will end. The reason is that these anchor tenants collectively create the image of the office building to the public and will generate the initial customer traffic for your business. Your presence will also be taken into account in the rental payment quote.

Office supplies:

You should ask if there are tenants who can provide you with the resources for the daily operations of your consultancy. This can include printer cartridges, paper, and general office supplies. This way, your staff won’t waste valuable company time making phone calls or traveling when resources need to be replenished. This is also a golden opportunity for “cross advertising”. You can leave your ID card and flyers with these vendors and vice versa.

networks:

You may discover that a similar consultancy is a tenant in the same office building. Take advantage of this opportunity to create economies of scale by having your office on the same floor as them. Not only will you benefit from increased traffic, but you will also have to collaborate with them on large projects.

Office renovation:

Some building managers will not allow new tenants to make major changes to the office décor. This policy is in line with trying to maintain the uniformity and identity of the entire building. You have to decide if the identity of the building is consistent with what your company wants to project. However, office renovation should not be prioritized to be close to your target market.

Your clients:

If your clients have to frequent your office, it is essential that there is enough parking space or that the office building is close to an MRT station. With today’s labor trends and the globalization of operations, your staff may be required to work irregular hours. Having an office with 24 hour security patrol and air conditioning will make the work experience more palatable!

Bank:

Make sure there is a bank in the office building or nearby for you to do your daily banking. Having easy access to TT’s cash flow and facilities will also improve accounting procedures and encourage your clients to settle their debts more quickly.

Proactive Management Committee:

It will also be helpful as a new tenant to be on the building management committee. This will open the door to more contacts and improve networking. You can also request permission to advertise your business in the building newsletter or place a banner outside the building premises.