Getting an office space for your startup is very exciting. First of all, it signifies a big turning point in your business. Your team can now work together conveniently. You can finally separate business operations from your personal life. Finally, your baby business is stepping up to the competition.
As exciting as it is, you cannot get carried away and chose just any venue because your office space can actually make or break your team and in turn your business.
I’ve put together the most important factors you need to consider when getting a venue for your office. Carefully consider these factors and you can avoid getting the office space that ends your business.
Nature and Culture of Business:
- The first consideration when looking for office space is the nature of your business. The ideal space should be large enough to accommodate all your employees and operations. Also, remember that your office should have the necessary space to accommodate breaks and any relevant team activities, while also creating a positive lasting impression with any clients who pay you a visit.
For instance, if you are starting a manufacturing business, the chosen space should accommodate machinery, equipment, staffing levels and there should also be provisions for storage of stock, materials and anything else that is essential in the function ability of your business.
The ideal office space should enable you and your employees to uphold the culture of your business. Your new startup office space will undoubtedly go a long way in terms of cultivating the office culture you’re trying to promote within your company and project within your industry. Appearances may not be everything but, in the world of business, they often count for something.
- This is perhaps the most important factor to consider when choosing an office space for your business. Take your time and make sure your location is;
Accessible to clients and customers. The last thing you’ll want is clients struggling to find the place. Your clients and staff members should have an easy time accessing the office.Consider the state of the roads and traffic flows. In addition, consider the security and access to other facilities like restaurants and recreational facilities.
Also, consider choosing a location that is close enough to your team members and any resources your business may need.
- The layout of the office will determine if all the equipment and furniture that your startups need will fit. The space may appear large enough but some furniture and equipment may not fit depending on the layout. Check the lighting and air conditioning as well. No two spaces with the same square footage are the same. For example, a 5,000 square foot rectangular space is much more efficient and will support more people than layouts with round or angled corners. Make sure the alternatives you select have layouts that support your business requirements.
Before all this, however, you need to ask yourself, “Do I want an open concept or more closed-off workspace?”
- Another factor when renting your first office space that could impact your location decision is the available amenities. Consider looking out for the kind of amenities you may need like;
- Conference Room
- Telephone connection
- High-speed internet
- Electrical Outlets
- Burglar alarms
- After location, cost, is likely your next big concern. Don’t choose an office that is going to put your business too far into debt and stunt its growth. The goal of many property owners is to get as much as they can from their investments in terms of rent charges. Evaluate the pricing of each space to determine if you are getting value for your money. Look carefully at what’s included in the price. Does it include business rates, utility bills, and cleaning? Does it include some business support? If it doesn’t, these items can add up significantly so make sure you know what you’re taking on.
Renting or leasing might include additional monthly costs for which you hadn’t budgeted. Find out the cost of business rates and buildings insurance, because these can add significantly to your overheads.
- If you ask a landlord about parking, you’ll usually get a ratio and a comment that, “There’s plenty of parking.” Before you sign a lease, you need to walk the parking lot, identify your parking spaces and count them. Stay away from buildings where parking is difficult or costly for your employees and customers.
- After inspecting the space thoroughly and confirming that it is a perfect fit for your business, do not rush to sign the lease document. The property owner may try to rush you to sign the contract especially when the office is in a prime location.
Do not sign it before reading all the terms and clarifying any cost implications of each clause.Sometimes property owners will hide charges and binding clauses in the fine print.
Consider the lease period as well.
These factors maybe seem too much to consider but luckily there are online services like VenueHero.co that can help you narrow your search. All you need to do is search through available locations based on your requirements, see the prices and contact the space owners.