Many a times, companies may be tempted to look for the cheapest or lowest rental rates that they may find in the market.
Lowest Rental Rates May Not Always Be The Best Idea
Although, cost savings can be important for businesses, it may sometimes be a better idea to invest in an industrial space such as a warehouse or factory which upholds a better corporate image for your company.
First Impression Counts
First impression, may not sound important to some, however, companies or potential partners who do not already know your company that well may only be able to judge or know you based on their first impression of your company since they only have limited knowledge about your company during the first or first few meetings. They may then decide whether to forge a partnership or otherwise if they feel comfortable or uncomfortable with your company.
Just imagine walking into an open concept bare industrial space with just portable tables, chairs and basic lighting as compared to one which has proper partitions, walls painted with corporate colors and classy furniture. Is there a difference in terms of the feel or first impression of the company?
Take Interview for An Example. Is First Impression Important?
Likewise if you are going for a formal interview and if you were to dress up with a tie and blazer as compared to another candidate with just shirt and pants but no tie or blazer. How would you feel if you were in the shoes of the interviewer for these two candidates for the exact same role? Who would you decide to employ if both have almost equivalent experience and qualifications?
Choose One That Suits Your Brand
Imagine if you are dealing with high end or upmarket products, would you still go for the cheapest rental rates without other considerations? More likely than not, a company with such a strong branding in the market would decide on something iconic which customers will remember for a long time. That is the difference which gives your business a better corporate image and stronger branding. Some say that you have to stand out from the crowd to be remembered.
Why Do You Think Companies Invest on Renovations?
Then again, if corporate image isn’t important, why do companies in Singapore invest on their renovations each time they rent a new premise? Companies can easily save on their renovation costs by just merely doing the bare minimum such as basic lighting and electrical points. However, this is usually not the case for business owners. Most companies see these as a long term investment and for building the brand in order to grow their business to the next level. Employees or staff may likely also feel more comfortable or motivated to work in a workplace which is well renovated. Instead of seeing it as costs, some see it as a strategy for the long term. After all, there are many other ways to save cost when operating from industrial spaces.