So your startup company is beginning to gain traction, and you’re looking to expand your business by moving into an office space. Moving into a new space can either greatly help or greatly hinder your company, so it’s important you find the right space that fits your needs. Here are some things to consider when looking for the right office space.
Things to Consider
Even the smallest detail, from the hidden costs to the type of neighborhood, can affect how your business will continue to grow.
Deciding to move your company into a new space is a big leap, especially for newer businesses that haven’t fully established their brand or built up a consistent client base. Depending on the location and size, the cost of a new space can vary considerably, and there are several factors to be wary of when searching for a location.
Determining a set budget range is a good precaution to take in order to avoid under or overpaying. Spending too little could result in buyer’s remorse, and spending too much could put you in a tight spot, financially. Other factors to take into account include hidden fees and comparative pricing. Hidden costs could include anything from maintenance fees and parking, to ADA standards not being met. These fees can add up quickly so it’s a good idea to thoroughly check for any hidden expenses. It’s also prudent to check the prices of other similar spaces that are in the same neighborhood. That way, you can tell if you are getting a good deal or not.
Whether you’re searching for offices for rent in Portland or New York, the old adage rings true. Location is one of the most important aspects of any successful business. The location of your space plays a great role in how happy your employees and clientele are. If the commute is too far or the location too remote, then it could interfere with your business, leading to low satisfaction and productivity. Security and safety of the area is always something to consider as well.
Price and location will mostly determine the size already but if you have options, it’s good to consider them all. A simple rule of thumb, though, is roughly 70 square feet per person, but every business is different. The number of employees will also be a big determining factor for how much space you need. If you have a large company, consider things like if you need a kitchen or a conference room or an area to meet with clients. And be considerate of the people that work for you. Make sure that you provide them with ample work area. Spending eight hours a day in a tiny, cramped office will lead to a drop in productivity.
A good landlord will cover certain costs and repairs, but a bad landlord could lead to headaches for you and your employees. Any business, especially one that is still growing, will need as help as they can get, and you don’t need a bad landlord getting in the way of that.