Choosing an office space for a business is a big decision, particularly for startups. You have to consider many things, such as finding the most suitable location as well as determining what’s included in your lease agreement. It is an exciting, yet daunting task.
If you are a first-time business owner, however, you may not know what to look for. Here are some important questions and key considerations that will help you find the best office space.
Keep in mind that choosing the location for your new office is like choosing a desirable suburb to live in. You would like to know the type of folks who live in the suburb, what amenities it provides, and how busy it is.
A crucial question that you should ask is: Does your new office location offer the opportunity and prospects to enhance your business? The right location for your new office is an area that can provide the chance for networking and collaboration with like-minded businesses. Although this opportunity is useful and invaluable for most organizations, it is especially relevant for startups.
How much money you can spend is often a crucial deciding factor when renting an office space. It is ideal to prepare a budget, and you should stick to it. Keep in mind that renting an office sometimes comes with extra expenses, and you could be overwhelmed by hefty bills if you aren’t prepared for them. Be aware of add-ons like electricity, maintenance fees, or internet charges.
You may be currently looking for an office space that is sufficiently large and comfortable for you and your team’s current needs, but you might need some extra space for expansion. You may need more employees, equipment, or machinery within the next two or three years of your lease. Some property managers, including Cummings Properties, will offer an expansion space guarantee so you don’t have to pay for the extra space until you really need it.
Parking is very important, especially in locations not readily accessible via public transport or if the work requires your employees to travel throughout the day. When researching your office space, consider if and how many parking spaces you will need.
When you visit a potential location, it may be helpful to ask these questions: Does your lease include any parking spaces? Is the parking space near the building paid or free? Are there any visitor bays? It is essential that you understand the parking situation fully before moving in.
When early-stage companies decide to lease their new office, the space sometimes isn’t sufficiently large to accommodate a private meeting room. All businesses, however, need a professional workspace for holding meetings. Determine whether your facility has access to boardrooms or meeting rooms, and if not, whether there are any rooms nearby. You should also consider if meeting room usage is included in your lease.
Make sure you understand your specific business needs and ask all the relevant questions during the research and inspection phase to make the most suitable choice for your business and employees.