Locating your office downtown might be expensive. But are there any benefits? There must be. Otherwise, people wouldn’t bother paying the high prices. -Companies are constantly evolving, and changing offices is often a sign of growth. Renting offices in the downtown San Francisco area is an excellent choice for anyone looking to move their business to a different location.
This area is known for being diverse and an attractive spot for companiesWe’re going to investigate why some wealthy and successful entrepreneurs choose to locate their business in the most expensive part of the city, Downtown.
Worker Energy
Josh Dorkin, the man behind BiggerPockets, says that the reason he relocated to a swanky, downtown office was because of worker energy. He says that there is a certain hustle and bustle to downtown life. You can’t get that anywhere else. This is where all the most ambitious and active people gather, and he wants to tap into that. The downtown environment suits his business too. He’s constantly on the lookout for new people and opportunities to network.
Up-And-Coming Millennials
Millennials seem to love city life. That’s the observation of Andrew Thomas, the man behind Skybell, a marker of smart doorbells. Millennials, he says, are drawn to the middle of major cities because of all the opportunities to consume and have fun. Living in the middle of town also means less time commuting and can spend more time working. For Thomas, this has been a massive boon for his business. He’s been able to pick up dozens of talented millennials to come and work for his business, expanding it in the process.
Convenience
Office accessibility can be pretty lousy if an office is located on an industrial estate, way out of town. If it’s located downtown, it’s more convenient for workers and for clients, according to Jared Feldman of Mashwork. Easier commutes helps to keep employees happy. And being close to the center of town means that there are lots of options if he ever needs to take clients for lunch.
Economic Bonuses
Many state and local governments are desperate to get people to locate in downtown areas to “keep their cities alive.” While these incentives distort economic activity, for individual businesses, they can prove to be very beneficial. Brett Farmiloe of the marketing agency, Markitors, says that businesses can often get reduced taxes and rates by locating downtown. While simultaneously receiving all the benefits.
The Culture Is Already Built
Companies that locate to the busy city can usually just piggyback off the positive culture that already exists. According to Brennan White of Cortex, downtown areas provide the best entertainment and nightlife. This allows business leaders to build winning company cultures on the cheap. You don’t need expensive outings if you’re located downtown. Instead, you can take your team for a walk out of the office and find a new club, bar or restaurant.
Brand Recognition
According to Miles Jennings from Recruiter, there’s a lot to be said for being located downtown. If you’re a customer-facing business, you’ll gain brand recognition, since customers will regularly pass by your premises. You also stand to gain if you’re a B2B business since you’ll be right in the heart of the B2B community.
