There are many firms coming up everyday due to the efforts of high and able entrepreneurs. The scenario in business is undergoing a rapid change. Various companies are investing in new offices in other cities and thus diversifying or expanding their businesses. Large scale and medium scale multinational and national level firms too are seeking expansion. There are various real estate builders lining up to offer these companies easy office spaces due to the lure of earning steady income through lease and rentals.

Risk factor
There may be certain jeopardizing factors approaching these firms. As a business man looking for expansion or diversification or a new opening, there are certain risk factors that are involved. The person making the investment may not have the necessary knowledge and time to look into these risks. What can be the possible risks?

-The person needs to introspect at first, the real estate requirements and specifications for his company in the small, medium and long run. Do I actually know them?
-Do I have any idea of the base of foundation specifications that I will want before as a final point before moving into the office?
-Are there any chances of any legal problems in purchasing an office space? If yes, what can be the possible ones that have not struck me?

Usual problems

-The space that the person has bought may be too small. It means that the proprietor made a wrong estimate of the office requirements at the start of the buy out.
-These problems of space create an unhealt

hy atmosphere and don’t allow people to work at the level of their personal space. It may also create congestion and inefficiencies.
-The human resource department may also face troubles in coordinating with the other departments. The business may thus suffer.

Tackling these problems in advance
-Professional help may be needed from architects and project managers who make exact calculations and thus come up with the right size needed.
-You must analyze the requirements for your firm in the coming years or on the basis of a long term, medium term and short term criteria.
-Foresight is an important need and the space available per head needs to be analyzed.
-The firm needs to look at various other perspectives such as nearness to the potential patrons, the competing business houses, the suppliers and the various stakeholders of the business.
-Air condition, 24x7 electricity and water supply, broadband connection, telecom facilities, parking slots required, etc. are the various vital and prime things to be looked into, well in advance.
-Office rent, maintenance charges, parking rentals, Tiffin rentals, electricity billings in the particular area and other potential unforeseen costs must be well calculated.
-Approach consultants and other experienced business houses or partners and prepare a check list of the various things to be kept in mind.
- The best option can be to outsource the responsibility to someone who is a professional in this area. A short term investment can lead to a long term gain.