Whether you need to find your first office or a new one to better suit your needs, here are some tips to help you find a great space for your business.
Many new startups begin life in a home office. To save on overhead costs, entrepreneurs often operate their business virtually and hire remote employees to avoid paying rent on office space.
However, as your team and business needs grow, you may want to seek out a headquarters for your company. If you already have an office, you may eventually find that your current space doesn't meet your needs.
No matter what your circumstances, the search for a commercial space can be daunting. Here's what you need to know if you're looking for a new office.
Signs you're ready for a new office space
You're feeling cooped up at home
It's a good idea to separate your home and working environment. Otherwise, you'll end up working when you are supposed to rest, and resting when you're supposed to work.
Your office space no longer meets your company's needs
Companies that are growing faster or slower than projected often need to adjust their office size to accommodate their current team.
You don't want to renew your current lease
Your current office space may be perfectly fine, but if your lease is about to expire and you can't or don't wish to renew it, it's time to start looking.
Choosing the right space for your business
With the abundance of coworking companies small businesses have a lot of options when it comes to office space. Small companies may want a flexible coworking space with lots of other people and various places to set up shop to avoid a "claustrophobic" feeling.
However, if you're approaching 10 or more employees, you may want to find a private office. This will allow you to establish a "home" for your company and start building your unique culture in a meaningful way.
No matter what type of office space you want, consider the following factors when narrowing down your options:
Budget. This is one of the biggest factors for most small businesses. Your budget may exclude certain locations from your potential list.
Location. Aside from the physical location of your office itself, you'll also want to consider the neighborhood and what's nearby. This includes public transportation options and how easy it is to walk or bike around the area.
Lease term. Short-term leases are often more attractive for small but growing companies who may need more space in a few years.
Other tenants. Find out more about the community of tenants within your potential space to see how well you might get along with them.
Building amenities. Coworking spaces often come with built-in amenities like free coffee and snacks, office supplies and printing, outdoor common spaces and community activities. Some large commercial buildings are now extending similar perks to their private office tenants.
Evaluating your options
Once you have a short list of potential office spaces, visit each location and see how you feel in the space.
Don't forget to ask what's included and what's not, ask about cancellations, deposits, guests, meeting rooms. These make a difference. This is where you're going to live Monday to Friday, 9-to-5 for the next five years, so make sure you like it.
You should also distinguish your must-haves from your nice-to-haves, there's no such thing as a "perfect" office space.
"You can’t get everything you want, the way you want it, the second you want it," he explained. "Prioritize these wants ... and find as close to perfect as possible. There will be a compromise, so go in knowing, 'I'd really like X, Y and Z. I need X and Y, and hope I get Z.' It's a much more pleasant experience."
Source: https://www.uschamber.com/co/start/strategy/how-to-find-office-space
