20 Questions Planning for 2016

With 2016 quickly approaching, now is a great time to look at your commercial real estate needs. Below are 20 questions for you to consider as you plan for a new year.  Many of the questions are specific to a single location and others for a company with multiple locations.

It is most important for an business to have a proactive approach to its real estate.  Typically your 2nd highest operating expense, your space is a critical component to your business planning.

  1. Do your business units each have a plan for rapid changes in market conditions?
  2. Can you tell the current state of your global portfolio in real time?
  3. Do you have accurate ways of measuring the performance of your portfolio?
  4. Do you know when you’re likely to run out of space, and do you have a plan to keep that from happening?
  5. Does your space fit in with your business strategy?
  6. If you need 200 new seats in the next 30 days, do you know what you’ll do?
  7. Is your current location conducive to a productive workforce?
  8. Does your workforce have the skills necessary to accommodate your future growth?
  9. Do you have the tools you need to evaluate alternative labor markets?
  10. Exactly how many leases do you have across your entire organization and what does that represent in square feet and annual occupancy cost?
  11. What are the critical notification dates and actions required in the next six months? How about the next twelve?
  12. How much do you save through annual cost audits?
  13. Is owning property really within your company’s core competency?
  14. Do you have significant capital invested unproductively in real estate, and could that capital be better used elsewhere in your business?
  15. Do you need to build a custom facility but don’t want to own it?
  16. Do your facilities have backup systems in place to handle emergencies?
  17. Do you have the metrics in place to evaluate the cost effectiveness of your facilities management?
  18. Is anyone in the company responsible for the “uptime” of your facilities?
  19. Are you focusing too much on your facilities and not enough on your business?
  20. Are you getting the information you need to monitor your operating costs?
    Aren’t sure about the answers? Give us a call and learn how Found can assist you with your real estate needs.