1 How to avoid choosing the wrong building. This is a very important decision that has far reaching implications for your business. The general criteria for selecting a building are consistent, but the importance of these criteria will differ based on your own business circumstances. amicusinteriors.com.au 10 THINGS THAT YOU SHOULD CONSIDER: 1. The demographics of your staff and their proximity to the location – Retaining and attracting your staff may involve the right strategic decision on where to locate the premises, otherwise you run the risk of losing key staff. 7. Social Responsibility – The building you choose may carry a sustainability rating for example, which may be part of your company’s social responsibility charter. Avoid making the wrong long term decision. 2. There may be a logistical or cultural need to be geographically close to your clients or other organisations in the same industry. otherwise you may run the risk of losing key clients. 8. Image of Premises – The building and location you choose need to reflect your companys image and culture, get this wrong and your brand may suffer. 9. 3. The lease budget available – Each building differs in terms of quality and location and this will be reflected in the lease costs. Set an appropriate budget to avoid wasting money. Transport links – Your staff and clients may need to have close access to airports or public transport infrastructure. Map this out to avoid disruption to your business. 4. Size and Growth – The size of new premises should be selected on the basis of not only current needs but allows for future growth of the business. accommodating your staff now, but also accommodating them for future years, as the business grows, otherwise you may run out of space before your lease expires. 5. Quality of premises – Buildings all carry different levels of service performance, in terms of security, air conditioning etc and your business may need to be supported by enhanced building services. Look into the consequences of making a bad decision. 6. Fit out budget available – If the fit out budget is limited you may wish to only look at locations with an existing fit out that can be adapted to meet the demands of your business at minimal cost. Be careful here as there are lots of hidden costs. 10. Building facilities – A building with a food court, child care centre, swimming pool or gym facility for example, may be important to you and your business . hot TIP Before embarking on the search for new premises some or all of these factors will need careful consideration. Businesses’ will often occupy the same building for 5-10 years and the choice of premises will need to reflect the needs of the business over the lease full term. By working through these key points you will be able to formulate a Location Brief. This will help steer your building search with full consideration and understanding of the importance of the various selection criteria listed above. Make sure you provide the appropriate weighting to the things that are important to your business. Making the wrong choices may be damaging to your business.