by Haris Quintana
Many businesses, once they reach a certain point of success, decide to take the leap into purpose-building a space for their needs. Businesses that centre themselves around the customer experience, such as restaurants, bars, clothing and furniture stores, music venues and museums and galleries, benefit from purpose-built spaces because the space can truly reflect the unique personality of the brand.
But of course, just like anything in life, there are negative consequences to purpose-building your dream company space. No matter what kind of business you run, and however complex its needs, the road to success in this area is a tricky one. Here are the definite pros and cons of a purpose-built company space.
Pros!
Reflecting the personality of your brand. If your brand has its own signature artistic flair which draws in your customer base, then purpose-building a space to reflect this is a great choice. Particularly if your business is arts-based, such as a tattoo studio, clothing boutique or jewellery company, the layout, decor, style and setup of the physical space is of paramount importance. In some businesses, glass floors can add a lot of aesthetic value. Look up glass flooring safety to find out more.
Catering to your business’ exact needs. Businesses with very specific functional needs, such as medical practices and dental clinics, which use specialized dentist supplies and medical equipment, need a high level of precision to be involved when creating the space. This means that consulting a company who purpose-build spaces for your industry, such as Medifit, is essential. However, it may be as simple as catering for growing numbers of employees. Perhaps you need more office or commercial paving services to design a bigger car park. Whatever changes you make, you can make them specific to the functionality of your business.
Attracting the best talent. If your business has a custom space which is classy, beautiful, user-friendly and accessible to all, you are more likely to draw in the best talent in your industry to work with you. This is bound to enhance the reputation and financial rewards of your company in future, creating the successful business you have always dreamed of having.
Cons...
High initial costs. A purpose-built space is an amazing resource for your business, but it will cost a pretty penny first. Constructing and designing an entire building for your company will put you out thousands, which is a big risk in today’s economic climate.
Renting out and selling on. If the place you succeed in building for your company is hyper-specific for your business’ needs alone, there may be trouble in paradise when it comes to hiring the space out or selling it on in the future. Many businesses hire their spaces out on evenings and weekends, in order to increase cash flow and help pay for the initial expense of a purpose-built space. With this in mind, it is best not to make your space so unmistakable that you have trouble doing this.
A step away from simplicity. Nowadays, minimalism and simplicity are key. You must ask yourself: what will I achieve from building my own company space, that I can’t achieve by buying and remodelling an existing one? With ease, accessibility and simplicity at the forefront of your working environment, a purpose-built space may not be necessary for your business.
Conclusion
When making this huge decision, it is vital that you take all factors into consideration. Use this guide to help you find the right space for you!