How much office space do you need?
Many business owners waste time, at least half of a day searching for office space without properly estimating the amount of office space they need. There are 3 basic steps to estimate the amount of office space you need.
The first step is to find out how many offices, cubicle, rooms etc., you need. I listed the approximate square footage needed for theses items below.
The second step is adding 25-30% for circulation space.
The third step is adding 20-45% for the loss factor percentage. If you do not know what a loss factor is then your in for a big surprise. I created a quick video describing what is a loss factor. Find the link to this video below. I also created a video giving an example on the steps to estimating how much office space you need. Find the link to this video here; How much office space do I need? video link.
|Office space items||Square footage||Quantity||Total square footage|
Keep in mind this is an estimate. Because many businesses are unique make necessary changes to +/- the amount of space that your business needs. Please note that you will need to make the adjustments to the loss factor percentage based on the office building loss factor percentage. Review the video below on loss factors to get a better understanding of what it is. If your on the market for office space and would like a free consultation please contact me here.
Click on the following link to watch the loss factor video on YouTube: What’s a loss factor in NYC commercial real estate?