A recent article, Young companies: How to find an office that’s right for you by TheSquareFoot, observes that finding the right office space is one of the most significant challenges a business encounters. It is a critical search because finding the right office space for your company can impact the image and overall operation of your business.
Here’s a list of things to consider when searching for a suitable workspace.
Small budget is normal for startups. Keep an open mind when viewing properties-having several options to choose from helps eliminate pressures and gives you an edge when negotiating a contract. Location and amenities will affect the price, so it’s important to analyze the costs versus the benefits of these factors. Decide ahead of time which amenities are a top priority for your office space. Then weigh the cost of your options, based off of which space meets the most of your needs within your budget.
If your company is an intimate size and you are uncertain of the growth path, a coworking office space might be a better fit for your business.
If your startup is anticipated to have a high-growth rate, it’s important to predict where your company could be in the next two years. You want your office space to be able to comfortably expand as your business does. Normally, you should be looking for 100-150 square feet per individual.
- Lease terms
Signing a multi-year contract can be unsettling, and finding a short-term lease is not an easy task.
However, there are some significant perks to signing with a long-term lease. Generally, the longer the lease contract, the more maintenance and support you can expect from your landlord. There is also the possibility of saving a decent amount of money. By locking in a set lease rate you could spare your business the unexpected costs of a sudden spike in rental property rates.
If signing a long-term contract still makes you uneasy, consider the benefits of hiring a business service provider dedicated to meeting your business needs on your terms.
The design and space of your office environment can make a big difference in productivity. Employees thrive in a work space that is a comfortable and engaging – the better the work environment, the better the work produced.
Considering the factors above will help you choose the right office location for your business. If hiring a business service provider seems to be a better fit, check out YourOffice– a leader in providing prestigious fully serviced office space and meeting space for any size business.