Tips for finding the perfect office space

Although the age of the internet means that there’s no need to purchase office space straight away to build a successful business, at some point, you will need to find a physical base of some sort to give your company more room to grow. Upgrading to a physical office that both meets your budget and your business needs can be a both an exhilarating and stressful time for many entrepreneurs, but it doesn’t have to be the latter. Read on to discover some handy tips to help you find the perfect spot in your hunt for an office space.

Consider Your Employees

Usually, start-ups will need an office space when the time comes to hire employees. Although remote and home-based workers are becoming more common than ever before, for many businesses it is still essential to have in-house staff to run smoothly and be successful. When choosing an office space, one of the main things that you should keep in mind is your workforce. Where do your employees live? Will your employees be able to commute to your office? Are parking spaces available for employees who drive, and, are these free or paid? Asking these questions is important as keeping your employees satisfied is a key part of business success. On the other hand, you should also consider your location when it comes to potential future employees. A high-demand area such as London is often a great place to find the best new talent and up-and-coming professionals. See The Workplace Company for more information.

Know Your Measurements

When selecting an office space, you will likely be presented with a range of different office sizes to choose from. Knowing exactly how much space you need will ensure that you make the right selection, avoiding wasting money on leasing too much space and preventing the problems that not having enough space for everybody will present. Typically, a good rule of thumb to stick to is to budget for around one thousand square feet of office space per 4-6 employees. This basic formula works to ensure that there’s enough space for everybody to work comfortably in most office layouts.

Negotiate

When it comes to finding the perfect office space that’s still within your budget, negotiation is often key. There are no hard and fast rules on securing an office space; you should always negotiate rent down to around 5-20% less than the asking price. For someone who’s used to always paying the asking price, this can be quite a daunting prospect at first. But, you will be surprised at how low some people are willing to drop the asking price to when you negotiate with them. Depending on the state of the market at the time, you may even be able to secure deals such as free rent for a month every year that you re-sign the lease.

For many start-up owners, finding an office space signifies their first big business growth spurt. Finding the right office space is essential for directing your company towards further future success!