The majority of new businesses begin in home offices. Some entrepreneurs run their businesses virtually to save money on overhead, and they frequently hire remote workers to avoid paying office rent. However, if your company and staff members expand, you may wish to look for a new office space for your startup business.
Having an office space devoted to your company, whether or not you have a home office, can make a difference, especially if you want to provide a better environment for your present and future employees. The number of considerations that accompany searching for a good working environment can make the process very difficult when looking for startup office space.
You will have to meet the immediate needs of your startup business while also planning for the future, ensuring that the location you choose is both cost-effective and suitable for team morale and appropriately expresses your brand image. Here are some pointers to consider if you’re looking for the ideal office space for your startup:
- Choose Your Location Wisely
It would be inconvenient for everyone if the workplace were positioned far away from where you and your staff live. So, draw a map of where you and your team live and look for an office that is easy to access frequently. Creating a concentrated area is an essential element in the procedure. You’ll keep your staff members if you make it easy for your employees to get there.
It has been proven that choosing the correct location has a favorable impact on a company’s future growth, both internally and externally. As a result, it’s critical to consider the business potential and convenience of a potential new physical site for your company.
Another factor to consider while selecting your office space and location is your clients’ interests. The last thing you want is for clients to have trouble finding your office location. You’ll want to make sure your office space stands out in their minds for the right reasons. Therefore, do consider the attractiveness of your surroundings when making your pick – and that includes locating a facility with enough natural light.
- Decide How Much Office Space Your Company Need
When looking for office space for your startup, one of the first things to consider is how much space your company requires. Do you want to figure out how much space you’ll need? You can use an office space calculator to help you figure out how much room you need.
First, determine how dense you would like your office to be or how many square feet per person you want. Which one of these alternatives appears to be the best fit for your business?
• High Density (80 to 150 sq feet per employee): Most of the seats are open, with rows of small workstations. There may be a few private offices and huddle rooms available. We frequently found this type of office space in firms with many teams sharing the same area; sales, technology, coworking, and customer service offices.
• Average Density (150 to 250 sq feet per employee): A mix of open cubes, desk space, and private offices. This arrangement is a traditional workplace setup.
• Spacious (250 to 500 sq feet per employee): Large private offices make up most of the space. Historically, this can be found in the professional services industry.
To determine the overall amount of space you might need, multiply your employee headcount by the number of square feet you desire per employee once you’ve decided on the ideal density for your workplace. Planning for future development is a critical element that business startups must keep in mind. You’ll need to factor in how quickly your business expands and plan how much space you’ll need now and how much you’ll need throughout your lease.
For startups with rapid growth plans, this usually entails acquiring additional space and negotiating for expansion rights in your lease or accepting a shorter-term lease that will get you by for the time being, with the idea of expanding or moving as you grow.
A trained tenant representation broker can assist you in determining your company’s growth goals and determining which options are best for you.
- Examine the Price Tag
A crucial aspect to consider is whether the cost is appropriate for you and your startup. It may seem obvious, but it is essential to know that you’re not overextending yourself on your rent. Ensure that the office space you want does not impede your startup’s growth due to the cost.
Consider the hidden costs of your offices, such as internet connection, parking, and other expenditures that may come up unexpectedly. To ensure that you’ve chosen an economical alternative to your startup, it’s good to straighten out any fees before signing the tenancy contract agreement.
Your office budget will be limited, especially if you’ve just started your business. There are, however, several practical and simple strategies you may utilize to make the most of the limited space available to you. Shelving bays and installing lockers are two examples of space-saving storage solutions. The most important thing is to ensure that your team has enough space to function efficiently while staying within budget.
- Think Beyond the Rent
Never let rent dictate your office space decisions because it may affect your employees’ well-being. Better space impacts your company culture since it encourages creativity and motivates employees to work more. It can also affect your startup’s capacity to retain and hire talented employees.
While generating a pleasant and lasting impression on clients who will visit you, your workplace must have enough room to facilitate breaks and other vital team activities. Although appearances aren’t everything, they are frequently essential in the corporate world. It will be well worth the extra money to have a professional office with safe, clean, and well-maintained restrooms.
- How Long Should You Sign an Office Lease?
Another factor to consider for startups businesses is the appropriate lease length. Because startup businesses are frequently in the midst of rapid expansion, determining the optimum lease period can be difficult. It’s common for startups to sign a shorter-term lease to maintain flexibility and avoid over-committing. Established and stable businesses with well-defined expansion plans often prefer longer-term leases for those who want to lock in their rate.
If you’re looking for a shorter lease term, you might be able to find one if a space has been unoccupied for a long time. Choices, such as coworking space or a sublease, are another method to negotiate a shorter, more flexible lease. Check here for a typical sublease contract template. This alternative can provide you with a stable environment until you determine how much space you genuinely require during the growing phase.
Conclusion
Before you invest in an office for your startup, consider a few things. Whether you’re going to enlarge it or want more space for all of your employees, it’s always ideal to prioritize your needs and remember the pointers mentioned above. With those tips in mind, you’ll be able to select the best one for your developing business and specific requirements.
