When it comes to commercial properties, you can expect to find different types. These create much confusion within the business environment with people not knowing which one is the perfect fit for their business enterprise.
However, the fact is, when the line is drawn, there are basically two kinds of spaces that are commonly used in business. These are the office space and retail space. Now, the key to utilizing each property can be the difference between resounding success and abject failure for the brand.
In this piece, we are going to juxtapose both the retail space and office space to help you understand what’s best for your business.
This is one of the major factors for lots of people who need to rent space for their business. Let us take a practical scenario here. Office space in Los Angeles is very attractive in Hollywood circles.
If your business requires attracting celebrities and other eminent personalities to push your sales and drive profitability, going the retail route might be the best choice for you.
Retail space is also convenient for business owners with adept reliance on pedestrian and vehicle traffic to drive sales. Knowing your business is fundamental to identifying the right space for you.
• Customer Profile
Knowing your business is one. Understanding your customers is another thing entirely. Your kind of clientele will determine the type of space you need.
You could find office space Los Angeles that caters to the tech crowd due to the concentration of tech companies in the city. If you offer B2B services, then the obvious choice is to get yourself an office space. However, B2C services are better off going retail. The nature of your consumer should go a long way in determining what type of space you need.
Your budget should not be a factor here. True, it is common for retail space to cost higher than office space. This is in a situation where all elements are equal, and both office space and retail space are located in the same place.
This is why it is important to thoroughly do your research to know how to attract your customers or clientele before making an investment decision on what type of space you need.
Other factors are to be considered, but these do not have a significant impact on the type of space you need compared to the above points. An example of this is parking.
In an ideal scenario, your customers or clients need to have access to parking space when they pay a visit. You will agree that not all buildings offer this space, particularly for office space. Since retail is more expensive, you can expect to get this feature for your retail space.
In all, there are other factors, such as relocation and convenience to consider. But the most important factor is to choose a space that can help you attain your business objectives.
Your choice of an office in Los Angeles will significantly determine the eventual success or failure of your business. This is why you definitely want to get it right. Office Finder is your assured destination for locating that perfect office location in LA. Get a good office and work would be play!