Get All Access for $5/mo

Space Value

If you're in the market for new office space, take someadvice from an expert. Jack Gold, president of Sterling ManagementLLC, a New York City relocation consulting firm, suggests sometips:


*Determine how much space you need. Don't guess or estimate;mistakes in this area can be extremely expensive.


*Establish a budget both for the space (your rent) and for yourmoving and other relocation expenses.


*When considering a facility, find out what the rentable space isvs. the usable space. The rentable space is what you'll payfor; the usable space is the functional room you'll have.Typically, you'll pay rent for space you can't really use,including hallways, restrooms, lobbies, elevator shafts andstairwells.


*Find out about the building's power supply. Older buildingsmay not have adequate electrical power to operate computers, airconditioners and other equipment.


*Ask about building service and access. During what hours areservices provided? Many buildings turn off air conditioners andheaters at night. Will you have late-night or weekend access ifnecessary?

If you're overwhelmed by the relocation process, considerhiring a consultant. An expert will likely make the process go muchmore smoothly, allowing you to focus on running your company.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

Is One Company to Blame for Soaring Rental Prices in the U.S.?

The FBI recently raided a major corporate landlord while investigating a rent price-fixing scheme. Here's what we know.

Side Hustle

This Former Starbucks Employee Started a Side Hustle That's Making More Than $70,000 a Month — and He's Not Done Yet

When Tom Saar moved to New York City, he spotted a lucrative business opportunity.

Business News

Amazon Has a Blank Book Problem: Buyers Report Receiving Fakes of Bestselling UFO Book

The book looked fine on the outside, but the inside was out-of-this-world.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Paramount Leadership Alludes to Layoffs If Merger Does Not Go Through

Paramount is awaiting approval on its merger with Skydance Media from majority shareholder Shari Redstone.

Business News

Microsoft Reportedly Lays Off Over 1,500 Employees in Cloud Sector as Partnership with OpenAI Strengthens

Alphabet also reportedly laid off employees from several teams in Google's cloud unit last week.