Every business owner has to make the tough decision of choosing an office space. Besides that, if you select the wrong location, you will face problems in the future.
In addition, when you select an office space, you need to think about the future needs of your business. Thus, you cannot just focus on your business's current situation and choose accordingly.
Choosing a new office space is thrilling. You might be very excited about shifting to a new location with your dreams, but you cannot miss out on the main factors while choosing a space.
Instead, you need to get an office space with proper facilities. Otherwise, your daily operations and brand value will be affected.
1. Is there enough space for your requirements?
You need to choose a space that is not too big or too small for your business. The office space should be able to fit all your employees and clients.
You might think about your immediate needs, but you also need to consider the future. Altogether, you have to keep up with your company's growth and new space requirements.
If you cannot afford a more prominent space for future needs, you can opt for other options. For example, you can try to get a shorter lease term or ask for negotiation rights for any vacant space in the future.
2. Is your business expanding, or do you want it to grow?
We are sure everyone wants their business to grow and expand. If a business grows, then there will be new employees.
These employees would require space. If you have new clients, you also need a bigger office. Thus, you have to keep these points in mind.
If your business is already expanding, you can lease a larger office space as per your estimation of new employees. Bigger and better office spaces also have a great impression on clients.
Also, if you are thinking of growing your business, you can negotiate about the future requirement of office spaces. Above all, negotiating beforehand helps you with urgent requirements of office spaces.
3. What lease agreements do they have?
Most of the lease terms are generally at least 5 to 10 years. You can customize the term for 2 to 3 years per your requirement.
If you're expecting some growth, you can negotiate for extra space. Add some additional words in the agreement that will offer you the right to add extra space in the future. Also, think about the termination process beforehand.
You might not terminate the agreement soon, but you need to know about their termination policies. This will help you if you outgrow the space and need to terminate in the future.
4. What is included in the lease?
When you agree, check what types of amenities you will get in the company. Also, check what is included in the lease. First, you have to check if there are facilities like an on-site fitness center.
Furthermore, if there is a range of restaurants for business dinners and employees' lunches, do not forget to check the building's cell phone and internet connectivity. Above all, you must check if cleaning services are offered under the lease.
Also, check the type of office space you are getting. For example, is it a sequestered office or an open floor plan? Most importantly, check if you can modify or renovate as per your business requirements.
5. Is this an appropriate place for my business to be?
If you are thinking of growing your business, you must choose a place to help you. By that, We mean that you need to have an office space accessible for everyone.
If your business requires modern facilities, you have to get an office space in an Urban area.
Also, if you have a lot of customers and employees, you need to have a parking lot. This allows your employees or clients to have a space to keep their vehicles.
If your clients do not get access to the basic amenities in the area, they might not want to visit. Above all, ensure that you do not lose your key employees with office space at the wrong location.
6. Is the office located in a convenient area?
As a business owner, you already know that most large companies have their offices at the city's apex. At places like this, everything is readily available.
Firstly, you get transportation all around the city. Other facilities like cafes, cab facilities, and after-work bars are also available in these areas.
Thus, it is an excellent option to look for office space in an urban area. Your employees will be able to travel to the location hassle-free. Above all the clients will be impressed at the location of your office.
7. Do staff and clients find it easy to get there?
The transportation costs are increasing day by day. Thus, people do not want to travel considerable distances to visit offices. Also, they mostly look for jobs near their homes.
If you settle for cheaper office spaces in the suburbs, you might lose clients. In addition, your employees will not be able to give their 100 % after traveling a lot.
You probably wanted to lower expenses by leasing cheaper office space, but you will lose many clients. Thus, you will have to look for offices in urban areas. The location you choose must be accessible through public transport.
8. Traditional office Vs. Coworking Space
You already have a clear idea about traditional office spaces. Besides, you also know the limited facilities you can get from a conventional office space.
To be precise, there is not much you can get from traditional office spaces. Here, coworking spaces play an essential role. Coworking spaces are a solution to all the problems faced in traditional spaces.
For example, in a coworking space, you get facilities like free wifi, printing facilities, parking facilities, pantry area, conference rooms with projectors, snacks on-call, and more.
You pay a monthly rent for your office space or yearly rent in a co-working space. So, you do not have to worry about lease agreements.
Read more : The Anatomy of Best Coworking Space Design
In conclusion, you need to choose an office space based on the earlier points. You can check out other things as per your wish; we say so because there are office spaces that do charge you an extra fee for painting the walls or even hanging paintings.
So when you sign a lease agreement, look critically into all the points in the agreement so that you do not have to lose extra money than you are already spending. Above all, it is better to opt for Coworking spaces because they are better than traditional office spaces in many ways.