Are you looking for a new office space for rent? We have some tips that will help make your decision easier.
Working in a coffee shop, or library, or even on your bed gets tiresome. As you scale up your business, you start to realize that you will need to set up a base for your business and formalize its operation. You need an office space for rent to boost your venture, but for a first-timer, this can be a daunting task.
But worry no more! We have some excellent advice for you. Just keep the following nine tips in your mind while looking for an office. We’re sure you’ll be able to get it right the first time.
1. Choosing the Right Location
This is the most crucial of tasks when looking for an office. The right location will keep your employees happy and your business too.
One consideration is the cost. Rural areas are not the right fit for your employees, nor for any facility that your business may need to avail. This may even put you in a remote location that may not be in favour of your enterprise. In cities, where everything is available within walking distance, as well as a location suitable for your employees, the expenses may be touching the roof.
Another is the ease of access. Is it too far away from the homes of your team? If so, they wouldn’t be too happy. And let me tell you, unhappy employees mean an unhappy customer and thus an unhappy business.
So, choose the location wisely that fits your budget and provides you with most of your requirements in its vicinity.
2. Size and Layout
The size and layout will depend on the way your business operates. If you have a large team, you’ll need a wider space, accounting for the workspace as well as other conveniences, including parking. On the other hand, a smaller team will require less space, but then the average cost may be more
Similarly, how you want to run your business will be decided by the way your team works. If you work in an informal environment, then a co-working space will be your best bet. But if your team or clients need more privacy and formality, then you should go for a traditional office setup.
3. Figure Office Expenses
Now, having decided on the location and the layout, you will have to think of all the resources that your business will need to run efficiently like the furniture, computer systems, coffee machines, etc. This will again depend on the layout that you choose.
A traditional space will require individual units for everyone and every room. For a co-working setup, though, you may not need as many units, but just enough to avoid traffic and any tiffs that may arise due to lack of equipment.
4. Customize Office Space
While leasing out the final space that you have chosen, make sure that you know all the areas that you can change and any re-modelling that may be required is permitted or not before signing the documents.
This may be there in the contract, or you may have to ask your landlord about such details. But make sure that you know all the areas that you can customize to make your office seem more you, to make it more personable.
5. Leasing a Dedicated Space or Coworking?
Do you want your business to have creative bearings or professionalism? Each requirement needs a different type of environment. To facilitate group work and communication, opt for an open co-working space. But if you have clients that feel the need for privacy, you should go for a more traditional looking office space for rent, with dedicated space for each employee and client meetings.
Read for details- Coworking or Traditional – What Type of Office Space Do You Need?
6. Don’t Overlook Parking and Bike Storage
While looking for a space to set up your office, make sure you have ample space for parking. Even with a long commute, the employees will still be satisfied as long as they have a space to park their vehicle. This is an important factor in organizations nowadays. Don’t forget that!
7. Keep A Strict Budget in Mind
It’s good to know what your budget is when looking for space so that you don’t overspend on your office. Also, it is not necessary to have an office for all businesses.
This pandemic has shown us how an enterprise can work even without having a well-defined home for that business. The technology has changed the working scenario. Now, you can set up an office space in your bedroom or even a coffee shop for that matter.
So, only set up an office space if you think it’s within your budget and will help in growing your business.
8. Never Sign a Multi-Year Lease
We say so because you are still starting. You never know if the business will do what you expected it to do. It may so happen that your business didn’t scale at the rate you expected or did way better than your expectations. In either case, the office space that you chose will be a hindrance.
If you run out of business, you will still have to pay for space you no longer use. If you do very well, you may have to upscale, and the previous space may not be enough for your new employees. So, be cautious of this fact before signing for a longer lease.
9. Speak to An Expert for Help
It is always advisable to talk to experts before taking any decision. In this case, realtors will be your best pals. They know the places that would best suit your requirements at the best prices.
Check with the experts at Novel Office by calling +91 99 0000 7879 and choose the best office space for rent that best fits your business requirement.