When you decide to rent your first office space, this can turn out to be an exciting step for your business. However, just choosing any space could be a mistake from your part. You have to make sure that the space you choose is suitable for your team, and it should allow you to thrive and grow. What makes this task an intimidating one for most startups? Probably it is the idea of not knowing what to expect in their cash flow, or how it would appear in the next few months. The key is to maintain flexibility.
In most cases, the right space and location is the driving factor that can make a huge difference for your business. If you are searching for an office space for rent, in this article, you will learn more about the different factors that are extremely crucial for the process. If you overlook these, you will end up disappointed.
1. Do You Actually Need an Office Space?
To survive, any business needs a dedicated space. However, so many entrepreneurs today are not sure of why they need one, and whether it fits their business model at all. Some businesses may not even require space, and simply working from home may be the best choice. Sometimes, co-working spaces could work well. First, you should evaluate whether your business will be able to function well in an alternate environment or not, this will help you to save your money and time.
2. Choose a Convenient Location for Everyone
The location matters a lot when you decide to invest in an office space. It is essential that you choose a dedicated office space, and the location should be convenient for your members as well. You need to ensure that the office is close enough for them to commute. However, if you do not have a team right now, you should choose an office space that is close enough to a populated area, which should attract people to it and increase your chances of making better sales.
3. You Need Expert Help
If you are not being able to decide on the right location, and the nature of your business, it is best that you seek the help of professional real estate experts, like Watkins Commercial Real Estate. Such experts will have complete knowledge of the property market around, and the will be able to guide you well on the best option that would fit your business model. They can give you options in full unit properties, or a commercial complex for various businesses. Furthermore, they will guide you on the leasing process, or any paperwork that should tag along with the process of having an office space. You will be able to learn about tax implications, so you should consult an agent that knows the ins and outs of this process.
4. Consider the Nearby Amenities
Another important factor you should consider when renting the first office space is how the location would affect your decision. This means you have to see whether it has nearby amenities. Most probably, your staff or team would appreciate an office space that is close to coffee shops, restaurants, banks, and other important places that they may need to visit.
5. Choose a Secure Area for the Office
The building space should also offer security to you and your team. To keep them safe and secure, probably you should consider whether space has a security guard or not. It should have a secure entrance and offer offers of security.
6. Consider the Space You Need
You should also provide your real estate agent with an estimate of the space you need. While you may have an idea of the number of desks you need right now, you have to consider the future as well. You have to be sure of how many more you will end up adding in the days to come ahead. You should estimate the space in hundreds, or depending on the number of employees you plan to add. Accordingly, you should consider the shape of the space, anticipated future hires, and maximum occupancy rates.
7. Stick to Your Budget
Once you choose the location, the cost should be the next big concern for you. You should not choose an office that will put your business in debt, or stunt its growth. Before you look for properties, set a budget, and operate only within this budget.
8. Know the Lease Terms
You should make sure that you know what the lease contains. Make sure that everything is clear in the papers, and take your time to see every aspect with your real estate agent. If you have any doubts in mind, they should be able to help you and guide you through the process.
These are just a few considerations you should pay attention to when searching for your first office space for rent. For further assistance, visit a nearby local real estate agent in your area, and they would be able to guide you well on the entire process. They will give you better options, and more property choices.