Much haste less speed! Choose your office space carefully, otherwise you will on the lookout for another in just no time.
For a startup business, teamwork is critical to growth. Hence, an enabling working environment comes handy. A well structured office paves the way for your team members to easily communicate with each other and and work in peaceable accord- this is the key to organisational growth and success.
All said and done, creating an enabling working atmosphere for your team is a function of your decision while selecting your office space. Make no mistake, your decision will either make or mar your business. This is why it is imperative for you to understand the basic tips for renting an office space before you even start to negotiate for one. Here is a profound insights into getting the best commercial space for your business.
Location is the key factor
Location, location, location! Commercial real estate realtors would always capitulate on location. They say location is key factor to consider when buying or renting a commercial space. They are not in their sentiment.
Location always comes on top of the list of critical factors to be considered when searching for an office space. Your team location, the nature of the business, customer location, and distribution channel all unite to factor your where your business is to be located.
Having selected your team, you would want to locate your office close to them. If you haven’t got a team yet, you would want to locate your office where you can attract talents to join your team.
Selecting an office space is not just about the team and the team alone. It is also about your about your the nature of your business. Most startups thrive in densely populated areas where more customers are attracted.
Getting your products to the consumers is very important. Hence, your distribution channel also plays a key role in determining your business location. If you would implement on-demand service platform in your distribution, you have to located your business where there is good and accessible road network.
Find out how much space you need for your office
Do some homework to figure how much space you will be needing for your office. This begs 4 questions:
How many people do you have in your team?
What are the chances of future business expansion?
How would you want the interiors to be structured?
How much space is needed for furniture equipment and other gadgets?
What about the price tag?
Having figured how much space is needed, make a budget plan of how much you want to pay for the space. Always calculate loss factor to determine usable square footage. This way, you can negotiate to pay for the exact space you need not the total space available. Your budget should be as strict as possible.
Critically analyze and evaluate your budget to make certain you can achieve your goal with your budget within a given space of time. If according to feasibility your budget is either too low or high, go back to the drawing board and redraw your budget road map.
Consider a virtual office if you don’t really need a physical space.
Ask yourself if you really need a physical office space. If your type of business can be run from any there and physical office is not required, consider getting a virtual office. The virtual office and team members will be located on the cloud. Your team will work from anywhere and you can manage your business from home. This economically significant cutting the cost for physical office, furniture and other physical arrangements.