THE PHYSICAL SITE, BUILDING, OR ROOMS
If you are looking at taking on new space, where do you want it to be? We are talking about general location, not about specific buildings. In other words, proximity to people, places, and things. We know how exciting it is to start touring buildings, but until you know the specifics of your space-related initiative, it’s next to impossible to find a suitable site.
If you are expanding your current facility, these questions are already answered and you get a freebie on this one.
If you already have a building opportunity, that’s great! But we still recommend taking a step back and imagining that your opportunity does not exist. This will help you take a second look at whether the proposed site is actually the best choice for your organization. And if for any reason the site becomes unavailable, you will have a clearer path forward.
OBJECTIVE FOR THE EXPLORATION PHASE:
Discuss all the features of a site that might be a good fit for your organization. An important part of considering locations is deciding whether you prefer to purchase or lease, since some locations will offer better value for one route or the other. It is okay to change your mind during the process, but the exploration begins now. Answers are typically tied to an organization’s financial situation, long-term goals, partnerships, and the local real estate market.
KEY QUESTIONS FOR EXPLORATION:
What are the priority features you’d like your organization’s location to include?
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TO DO:
Create a list of all the features you would like to see in a location. For example, near downtown, in a creative district, near your primary audience, near a bus stop, walking distance to a school. You are likely to find that not all features are possible in a specific site, in which case the Leadership Team can start prioritizing “must have” vs. “nice to have” features.
Discuss the Leadership Team’s interest in renting vs. owning.