Finding the right office for your business startup is considered a make or break move. In order to get yourself the right kind of space for your start-up, there are a number of things that you need to consider. These considerations should be placed in a checklist so you don’t forget a single one.
To find yourself the best possible office for your new venture, here are the things you need to look into:
Of course, where your office is situated is your first concern. What you need to consider when checking out the location of your office include safety, transportation options, and what amenities can be found nearby. Is the space located in a safe neighborhood? Are there many transportation options for getting to the location? Are there restaurants, shops, hospitals, and pharmacies nearby?
The next thing you have to think about is finding the right office with proper sizing for your new business. Some spaces can be too big and some can be too small. What is the right size for your startup? It depends on your perceived growth rate.
If you anticipate that your company is set to grow bigger at a fast rate, then an office that has space for you to expand into may be your best bet. The ideal space allocation for each individual in your workforce is at 10 to 14 square meters per person, so look for space that fits this for your present number, or slightly bigger if you are seeing expansion in the near future.
You will also need to check the building where space is found to determine a few things, like security, maintenance, parking, and lobby or reception service. You should also look into whether or not you can have access to your offices after hours since some buildings do not allow 24-hour access.
One of the things most start-ups do not have is a lot of cash up front. This means that the options for finding the right office may be limited due to budgetary constraints.
What you need to do is to first find spaces that fit your specifications for the first two categories on this list, and then arrange these according to price. You can then rate each one according to suitability after the prices have been listed. You can then reach a middle ground for your choices by narrowing down your options to those that are suited to your needs and are low priced as well.
5. Lease Options and Terms
When choosing between the last few locations that you listed as ideal, you will now need to check what lease terms and options each landlord presents. This is where you will be able to pick that one piece of property that is ideal for your business. Some buildings do not offer short-term leases, while others only allow leases that are no more than 3 years in length. You will have to make your choice according to your current outlook for your business.
If you have a good feeling that your company will expand and do well, and you find the location as well as the building to be ideal for your business, then by all means, sign a long lease. Just make sure that you get the perks that are associated with long leases, like maintenance and support from your landlord, discounts, and free parking spots.