5 Things to Consider for Your New Office Space

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Finding an office for your company can be challenging but keeping a few simple points in mind should take most of the pain out of it:

  1. What are My Must Have Amenities?
    Whether or not your employees work collaboratively or individually will determine your need for open versus private or enclosed spaces such as conference rooms. In determining layout needs, don’t forget to sweat the small stuff like the number of electrical outlets, the setup of the bathrooms, and breakrooms, and the quality of the Wi-Fi. These things might seem insignificant, but can cause major stress once moved in.
  2. Will My Company Grow Here?
    While you may have started with a couple of employees, a business owner should keep in mind the future needs of his or her company. The key will be determining whether to invest in the extra space up front or whether it would be cost-effect to sublease and move again. Some landlords may require lease terms as long as five to seven years. Being able to anticipate future growth and the potential added costs that come with it, could save money in the long run.
  3. Will My Clients and Employees Be Happy with the Location?
    In some cities, such as New York, certain areas are associated with certain industries (i.e. Fashion or Financial). Having an address amongst other notable companies in your field, while somewhat superficial, could have an impact on landing future clients.

    Also, if you regularly need to host clients, having a space that is convenient to your customer base is a top consideration. This includes learning about traffic, parking, and mass transit access.

    Location will also be important to your employees. It may be worth having certain members of your team weigh in on how a new office location may affect their current commute. You don’t want to lose key employees, or scare off highly-qualified potential ones, because of an inconvenient location.

  4. Should I Just Share an Office?
    While many successful startups began in poorly lit garages, it doesn’t mean all businesses should take that same no frills approach. Being able to share office space provides a chance to save the business money not only in rent, but in other office-related expenses such as kitchens and bathrooms (which require regular maintenance).
  5. Can I Afford This?
    It is important to take into consideration cost, not of the lease, but in terms of energy use, taxes, janitorial, and other expenses. Don’t forget to add up the extras.  Loft ceilings look great, but the added energy costs may not be.  A qualified Commercial Real Estate Broker can walk you through not just what you’ll need financially to sign the lease, but what to expect thereafter.
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