Picking an ideal location to base your start-up is no easy task, as there are many different factors to consider. Yet, choosing well can work wonders for your company’s success – boosting productivity, networking, and overall team morale.
Starting this search is daunting – but it does not have to be. Here are 5 things you should consider when choosing an office space for your start-up:
Location and Accessibility
The first thing you will need to think about is where your new office space is situated, as the last thing you will want is clients struggling to find the place.
If your office is difficult to locate or in an area with few transport links, this could directly impact employee retention and recruitment, not to mention client relationships. You might want to investigate what amenities are close-by; think cafes, shops, and bars (for coffee runs, lunches and after-work socialising).
Why not consider setting up next to like-minded businesses? Choosing an area where you can find other businesses in your sector can open networking and potential partnership opportunities.
How much space will your company need? As a start-up, you need to consider how much your business is going to grow. The number of workers you employ could change on a monthly basis!
Think about how you are going to accommodate new arrivals, whilst still being realistic – it is counterproductive to waste money on renting an office that is too large. Consider renting an office in a coworking space at first – not only are they flexible and easily upsized, but you will also save quite a bit of money too.
Nowadays, office spaces aren’t just functional – they can come with a whole host of exciting facilities! Consider a well-rounded, fully-stocked start-up space such as those provided by BE Offices.
With all-inclusive pricing, great social lounges and even unlimited gym use – what more could you want from your office space? Enjoy breakout areas, meeting rooms, high-speed internet and more.
These ‘nice to haves’ don’t always have to come at a higher price. Watch employee wellbeing skyrocket and thrive in an enjoyable working environment – set up for the long-term.
Staying on budget is likely the first thing you will factor in when looking for an office space to rent.
It is essential that before signing a lease, you are aware of the costs – hidden or otherwise. You do not want to be caught out by any hidden fees! Keep a close eye on anything that is not covered by your rent – think internet access, utility bills and general office maintenance.
Work out how much you can afford well before you begin your search.
Finally, when looking for office space, you will come across several lease types. Depending on the office you decide on, many landlords will want you to sign a lease that lasts for several years. However, as a growing business, being locked into a contract for an extended period is quite limiting.
Be sure to look out for flexible license agreements that will give you the freedom to rent a space for as long as you think you will need it – be it 6 months or 6 years. Typically, you will find that flexible licenses are agreed for shared or serviced offices.