The day when your business is succeeding so much you require office space is a good day indeed. It’s an important step in your growing business and as such, requires careful consideration.
It can be quite tricky to gauge requirements, especially if your startup is experiencing rapid growth. The last thing you want is to quickly outgrow a space and equally you don’t want to spend money on unused space, so there is a balance to be found.
The following guidelines will help you to navigate the minefield of options and secure the perfect space for your growing startup.
Location
When considering the location of your office space, it’s important to assess not only your preferences and needs, but also how the location meets the needs of your future employees.
The location needs to be as accessible as possible for drivers and those using public transport. Therefore, being close to a rail station, served by a regular bus route and having some parking facilities in the vicinity are all desirable.
Ideally, select an office which is close to some amenities or alternatively somewhere which has catering and/or kitchen facilities on site.
Moreover, location has a considerable impact on the price of the space you wish to rent, with cities and other sought after locations falling into much higher price brackets.
Optimal Connection
Any office space you choose will need to be well connected to ensure your business can run effectively. When looking for space, be sure to investigate the available internet service options and consider office buildings which have multi tenant internet, as this is a built-in connection which will provide a stronger, more reliable internet service for your company.
When viewing potential offices, take note of the available power, internet and telephone points to ensure there are enough to meet your requirements. This may be something that the building manager can support with, but they may not be able to, so it’s worth gathering as much information as possible.
Future Fit
Another significant area requiring some attention will be ensuring whatever space you do choose is suitable for your needs, both now and in the future.
If your two-year plan involves doubling your income, then you might want to estimate how much resources you’ll need to support such growth. Of course, you don’t have to stay in the same space for this period. However, moving offices is both costly and inconvenient so ideally opt for a space that is expandable. For example, choose a building which contains larger offices which could be rented at a later date.
Space Optimisation
When viewing potential offices, its can be wise to take a tape measure with you! Measure the space from a practical point of view to gauge the maximum number of desks you can realistically fit within the space. Likewise, avoid purchasing office furniture before you decide on your office space as this may further restrict your options.
Remember, you and your workforce will be spending a significant amount of time in the office, so be sure not to overcrowd the space.
Navigating Contracts
Office rental contracts vary in what they offer. Some offices are serviced, and others are not. Before you fall in love with a particular space, ask practical questions and find out the details of what is covered in the monthly rental payment — i.e. are cleaning, electricity and water included? Usually phone and internet services are separate, but these can be supplied and included in some cases.
Discussing different lease options is also useful to ensure you can choose the most flexible opportunity that best suits your business needs.
