A Beginner’s Guide to Choosing Office Space for Your Business
Running your own business is tough. You have multiple areas to work on and spending long hours for thinking something particular is not your cup of tea now. But an important decision like choosing an office space has to be done carefully.
1) Consider the size of your company
The size of your office space primarily depends upon the size of your company. If there are less people in your company then opting for a small space is better than spending a higher amount for a big space now, thinking about the possible future expansion. If you are just starting out with 1 to 3 members then going for per seat model is better. Try for coworking or shared office space for cost saving.
2) Types of Office Space
There are various types of office spaces that you can consider when you go out for site visits like – a) Traditional Office b) Business Centers c) Managed Office d) Shared or Coworking space.
a) Traditional Office
Traditional office spaces are normally located in an individual building. To get an office you have to deal either through brokers or with landlords directly. It can be furnished or unfurnished in nature. If you get the office space in bare shell condition then you need to arrange for all the facilities yourself from scratch, like wiring, electrical connections, internet, seating arrangements etc. In a traditional unfurnished office space if you have the budget then you can customize it as per your wish with either free flowing open space design or normal office design comprising of individual cubicles and separate meeting rooms.
b) Business Centers
Business centers are perfect if your requirements are for smaller office spaces. They are generally one big building which houses many smaller offices located at premium areas of any city. You will get the premium facilities like reception, cafeteria, allotted parking etc.
c) Managed Office
Managed offices like business centers consists of office buildings that are fully equipped and are managed by facility management team. You don’t have to take any head ache for availing the day to day operational activities like cleaning of the office premises, internet, reception, and power back up, which are taken care by the facility management team. You can get medium to bigger office space options in the managed office spaces along with customization.
d) Shared or Coworking space
Coworking and shared office space is the trend of the season. You can avail workstations on per seat model. Coworking and shared office spaces are very popular for the facilities that they offer to the occupants at affordable rates. Here, you will share your office space with persons from other companies. Coworking spaces are dynamic in nature and cater mostly to startups and freelancers. Coworking spaces provides high speed internet, cafeterias, high end meeting and conference rooms and a community in which every occupant will be a member.
3) Costs matter
This is another important point to remember – the costing. You may get tempted seeing wonderfully decorated office space once you start your property hunt in the market, but tend to restrict your desires and never spent more in your office space. At the initial phase of your startup, your expenditure for office space cost should be kept at a minimum.
Well, location is always an important factor when you are thinking in terms of real estate, your office space being no exception. Keep in mind that proper location of office space is essential. Your office space location should be convenient enough for your employees to travel every day. Even if you are not thinking of the whole company but you have to think about your key employees. Just for the odd location of your workspace, your dedicated workers should not look for employment somewhere else.
Not only your team members but you should also think about your clients while choosing the office space. Your business address is not something that you will change frequently. Hence your office location should be such that your clients also don’t face any difficulty to reach the same.
5) Spend wisely in office interior decoration
Don’t overspend at decorating your office space. If you are opting for unfurnished bare shell office space then, you have to spend some amount for interior design like furniture and basic amenities like printer and Wi-Fi etc. However, buying is not recommended. Rent as many furniture as possible. Keep furniture purchase at minimum. Best option is to go for fully furnished office space, like plug and play and shared office spaces. In these office spaces you have no initial expenditure at all for interior set up.
6) Parking Facilities
Parking facility has become a mandatory requisite these days. It is advisable to have office space with allotted parking space. Remember that at least one parking should be there at your office space, especially if you are located in big cities where parking spaces are a rare commodity.
Not only outside but your office ambience from inside is equally important. Your interiors should exhibit your personality. Spend some time if you have the budget to choose the perfect colors for the walls and furniture. However, don’t overdo it. If you spend too much on your office space at the initial phase itself then it will be an additional burden on you. Create a professional ambience so that your workers and clients feel energetic and happy at your space.
8) Don’t go for fixed rental terms
While entering into rental agreement with the landlord avoid going for a long lock-in period. Keep in mind any unforeseen circumstances and hence opt for short term rental agreements and lock – in periods.
The neighborhood of your office is important. Avoid having your office space in a deserted locality. It will be problematic for getting proper transportation and other facilities like eateries and medicine shops. You can avoid this by getting office space in a shared office space where all these facilities are normally there like cafeteria and other facility management.
Your office space is the face of your company. You will not only spend maximum hours of your day there but it reflects who you are. So choosing the right office space is important.
Hope our guidance will help you in selecting the right office space for your business.
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