Renting the right office space for your small business or startup has a significant impact on the way you do business. Depending on your location, you should research all the places around you that could be the most beneficial for a new business so that it can help it thrive, allowing you to bring new customers into your office that may not have heard of your brand before.
The most important thing is to have an office that represents what you have to offer even from afar, which will make it easier for clients to see what you want to give them.
Moreover, the ideal office space for rent should completely support your team members and allow you to grow as a company.
There are tens of options available when it comes to renting an office space, however, making the right choice becomes difficult with so many options. A thorough planning and a quick research can solve the problem and here are some points to keep in mind while venturing out for new office space.
1- Decide on the Type of Office Space
As discussed above, the options are too many, i.e. some entrepreneurs may prefer to have a home office or rent a co-working space while others need a dedicated office.
A home office or a shared working space is ideal for solo entrepreneurs and startups with two or three people. But, when it comes to a small business of a startup that has a team of people who need to work in close coordination on daily basis, a dedicated office becomes essential.
2- Fix a Budget
rent that your company chips in for an office space must be decided well in
advance. You will have to compromise on the other expenses or facilities if you
end up spending too much or too little. Keep the numbers to the minimum to
allow your business to operate comfortably.
The strategic location of your office space is essential for day-to-day business operations. Is your office easily accessible to customers? Does your team find it easy to reach work without any challenges? Is your office in the middle of the entertainment district? Or is it tucked away in a quiet area of the city?
These are some fundamental questions that will help you to decide.
However, if you are looking for office space for rent in big cities like Bangalore, then there are some excellent online portals like BangaloreOffice which provides office space with well-connected locations.
Depending on your city, search for the service that offers office space in well-connected and strategic locations within the city.
4- Know The Perfect Size of the Office
The recommended space is 70 square feet per person which is the standards. However, if you want more space per employee, it would be better. Besides, you will need space to meet prospective customers, recreational area, lunch area, and the pantry.
Always plan to take up some extra space that can be used down the line when your business grows; then you can add a few more cubicles or work stations.
Check out for Other Amenities
need highly efficient internet connections, lifts, and security systems. Also,
check whether the office space is wholly or partially furnished. Make a
checklist and see if the office space you are renting fits the bill.
Interacting with people in the same block or offices will give you an idea
about the premises. Make sure the facilities are present, as promised by the
Usually, there are some extra expenses in addition to the rent which may take up a significant part of the costs. Budgeting for the office space must include all these additional expenses. Ensure that the budget expenditure like building maintenance, trash management, and other bills are quoted.
6- A Clear Lease Agreement
agreement of lease must include all clauses for charges other than the rent,
the lease term, and any other conditions therein. Get the help of a lawyer to
check it out before signing, to be on the safer side.
7- Get Expert’s Help
Entrepreneurs may not enjoy the process of hunting for office space for rent and is sure an ordeal for a newbie. Get the guidance of an expert realtor agent who specializes in commercial real estate.
The Bottom Line:
Renting the right office space is a tedious task which may exhaust you if you go unplanned. Consider the above points before renting a space, and you will find the process smooth and hassle free.
About Author: Grace Bynes
Grace is a Business Analyst by profession with more than 7 years of experience of working with digital businesses mainly eCommerce and SaaS startups. Grace also loves to travel and explore the world!