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10 Most Common Mistakes When Choosing a Professional Office Location

Seldom do you have an opportunity to choose an office location for your medical, dental, physical therapy, vision, hearing, insurance, law or other professional practice and achieve great success quickly. This article will help you to understand how to avoid the 10 most common mistakes when choosing an office location.

MISTAKE #: Wrong Location

Location will determine the market you attract and the ease of getting new businesses and retaining quality customers. Choosing a location that is in a less than desirable area will attract lower income customers and is apt to create security risks. Even if you choose an office in a more desirable area, it will reduce your business growth if your office is off the beaten path or has few if any neighboring tenants that serve the same market. Always choose an office location that is affordable and will be convenient for your ideal customers.

MISTAKE #2: Property Condition

Choosing an older property that is not modernized and well maintained is likely to increase your maintenance costs and may very well keep customers from choosing you. After all, the quality of your office is a reflection of your business. It is part of your identity and how you are perceived by the market you most want to reach. Even if it costs you a little more money, you are likely to see a much greater return on your investment when your office is up-to-date in appearance and is in good condition. Instead of worrying about making needed repairs and updates, a well-maintained property gives you more time and resources to concentrate on activities that grow your brand and produce business growth.

MISTAKE #3: Office Configurations that Don’t Match Your Needs

Settling for an office that was built out for a previous tenant may seem like a good decision initially because of location or costs. Soon however, you realize that the rooms are too small, there are not enough bathrooms and there’s no suitable space for a kitchen and storage. When you are limited in your choices and try to make available spaces fit your needs, it usually doesn’t end up well. Soon you experience problems that will probably result in relocation at the end of your lease period. That brings in a whole set of new problems including more expenses, loss of some existing customers and time and costs in acquiring new ones.

MISTAKE #4: Network of Tenants

Ever notice a property where there is a diverse mixture of businesses – each attracting a different type of customer? When you have retail, restaurants, pets and manufacturing among physicians, dentists and insurance for instance, there is little chance that you will benefit from networking relationships and referrals from your neighboring tenants. Customers are likely to be a much more diverse group which may also negatively impact your ability to attract the customers you most want to reach and acquire.

MISTAKE #5: No Anchor Tenants

Moving into an office location without suitable or any anchor tenants that serve your same market can slow and limit your business growth.  But when you have a neighboring tenant with high demand services for your ideal market, you have an opportunity to use professional networking and referrals to hit the ground running and experience rapid and sustainable growth.

MISTAKE #6: Majority of Customers Served are Low Income

You are likely to attract and retain customers who are similar in demographics to your neighboring tenants. If you are surrounded by businesses who serve a market of low income earners on tight budgets, this is the same market coming to you and looking for bargain rates. If your goal is to attract a more affluent market who have the financial resources to get everything they need and want, think about the quality of the neighboring tenants, the services they provide and the types of customers they attract.

MISTAKE #7: High Costs that Compromise Profits

Every business owner would love to be in a brand new property on a heavily traveled road in a prime upscale area but let’s face it, that costs serious money. Between rent, CAM expenses and costly impact fees, the financial drain is often enough to put under-capitalized professionals out of business. Choosing an older, newly renovated and well-maintained property in an affluent area close to a heavily traveled road offers many advantages with respect to costs. Rents and CAM are significantly lower without any costly impact fees. This means more net profits and faster business growth.

MISTAKE #8: Not Enough Parking

One of the biggest sources of frustration for customers and business owners is a lack of sufficient parking. Make sure that your office has ample parking to accommodate each tenant’s staff and customers.

MISTAKE #9: Not Convenient for Customers

Even seasonal customers and vacationers value their time. They want to spend their time shopping, playing golf, enjoying nature, socializing with friends, going to beaches and eating out. They are more apt to use services close to where they live or stay. Even better is when they can make appointments for services they need in the same building complex.

MISTAKE #10: Poor Tenant Support

A major source of stress for tenants is a lack of support in getting needed repairs and improvements made that are the responsibility of the building management. Good tenant support is flexible, gets things done in a timely manner and even assists with build outs and customized improvements to make the office space move in ready.

Avoid these 10 Common Mistakes and Set Yourself Up for Success with an Office at Bonita Professional Park

Here’s what you can expect at Bonita Professional Park: a great location close to 41 and Bonita Beach Road where the building is newly renovated, well maintained, has reasonable rent and CAM expenses, no impact fees, great security, plenty of parking and neighboring tenants who share your market largely without competition. Two great new anchor tenants are about to open their doors – both have large office spaces, provide services in high demand and are likely to attract an affluent market.

Seldom do you have an opportunity to choose an office location for your medical, dental, physical therapy, vision, hearing, insurance, law or other professional practice and achieve great success quickly. Right now within this 52,000 SF building complex, you can choose move in ready and fully customizable office spaces in virtually every size and configuration to meet your needs. Extra perks include assistance with build-outs and other renovations and a management team that is there to help you get what you need to set up a thriving business. Contact us for a free tour without any obligation.

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