Your startup has been steadily growing. The living room space has done its job as an incubator, but it just isn’t sufficient anymore. Perhaps the time has come to find a more suitable home for your business.
I am sure there are many office space options for you to choose from. It could even be a bit overwhelming trying to make the best decision that you and your employees would appreciate.
Why don’t we have a look and see what are some things to consider when choosing the right office space for your business.
One of the first things you will need to consider before even attempting to look for an office space is narrowing down on your ideal location. Of course there may be other constraints such as price that could affect the available areas of choice.
An average American spends roughly 30 minutes commuting to work each way, 5 days a week. That is 5 hours dedicated to getting to and from work every week. Think about that for a moment; that’s almost an additional work day that is spent on just getting to work.
You need try to establish yourself in an area that is within a reasonable distance. Avoid having to deal with pesky commuting times. It’s not only a time that is wasted with commuting, but also damaging to environment.
There are a variety of leasing options for you, but think carefully before taking the plunge. You need to understand that your company may grow quickly or could possibly even shrink.
Committing to an office space shouldn’t be taken lightly. Consider looking at your long term business plan and estimate your potential growth.
Always look through any possible alternatives that will most closely work with your needs. There may even be subleasing options available for you. This option may need you to get consent from the properties prime landlord.
Office spaces have a wide array of layouts that can offer different functionality to variety of businesses. Let’s say you are graphic design company or a tech start-up, you may choose to opt-in for a more open layout. After all, some of the best ideas are created in a collaborative setting – in which case an open floor plan helps foster.
If you have a financial advising firm, or a law firm, you may want to choose something that is more compartmentalized. Having closed off offices and privacy may be beneficial in this setting. If you deal with clients where sensitive information is being exchanged, walls and doors may be your go to option.
Evaluate your business and how you will best use the space available. Don’t hesitate to go and have a look yourself through the options that are available. Bring along your colleagues, they may offer some valuable input.
This runs along with the functionality aspect of your office space. What else does every office space need? How about bathrooms? Are there enough of them? Does the office have a kitchen? Do you even need a kitchen? Will you need a refrigerator? Is there enough storage? Do you have enough power outlets for all your equipment? All those things add to the functionality of the office as well as how easy it will be to adapt to the new surroundings.
Take a look at all the available parking you will have at your disposal. Will it be sufficient for your current employees? How about for any new recruits? What are other parking options in the event there is just not enough room?
Make a list of all the musts for your space and a list of things that would be “nice to have”. Depending on your budget constraints, some of the “nice-to-have” amenities may have to be sacrificed.
You may be able to find something that is in line with all of your criteria, the perfect office to continue business operations – but of course the price may not be to your satisfaction.
Create a budget that you can safely allocate to all rental expenses. Keep in mind that your budget should also contain what you are willing to spend on utility costs and furniture.
Consider this – it’s better to slightly overestimate the costs and be prepared for it, than underestimate them and then struggle to pay rent.
Be sure to assess your business’ needs and all the variables we have discussed. Your goal is to make the most cost efficient and optimal decision that will suit everyone’s needs.
Deciding on the perfect office space for your business is no small feat. Dedicate at least 3 months of solid research to help you look through all possible options.
It would be a shame if you jump the gun and decided on a space that will not suit you a few months down the road.