Law firms and law firm owners are often tempted to upgrade their office space. The thought is that the new office space might help increase morale. The thought is often that new office space might attract more clients.
The temptation to upgrade office space is often very tempting. In some cases, a law firm ought to upgrade their office space. In other instances, upgrading the office space can cause more problems than it can solve. So, how do you decide whether to upgrade the office space?
The decision can be a tough one. And, certainly, different situations can lead to a different analysis. However, here are some factors that can lead to a legitimate argument in favor of upgrading the office space:
1.) Your law firm is legitimately out of office space. From corner to corner, every nook and cranny of the space you have is occupied. Your employees are on top of each other as a result as they try to perform their work.
2.) Your law firm is doing well from a financial perspective and can comfortably afford a rent increase.
3.) Your law firm is legitimately in a part of town where you cannot attract the types of quality clients you would like to attract.
4.) Your lease is up and your landlord is seeking to raise your rent. While the landlord’s costs might have gone up, not enough improvements have been made to space or building to justify a rent increase.
Here are some factors that would lead in favor of not upgrading the office space:
1.) There still is plenty of room in your existing office to account for more employees and growth.
2.) Your law office is not doing well financially. And there is no certainty as a result that moving your law firm’s office location will result in you attracting more clients of the quality and caliber you seek.
3.) The landlord has been upgrading and improving the space over time to make it more appealing to your employees and clients.
4.) It might be that other lawyers and law firms you know have moved and that has given you a desire to shake things up as well. But moving because others have moved is usually not a good reason.
At the end of the day, moving a law office is a lot of work. From packing up and literally moving everything, to re-setting up the technology and updating all your online and print listings, the decision to move an office is a big decision.
Be sure that you have carefully considered the pros and cons before you move your law office. If you have any thoughts, feel free to share them below.