With the bustling startup scene, the importance of finding appropriate office space has never been understood better. And the first thing that inevitably pops in mind is the price - although that is not everything you should look out for !!
Too low a price would mean a sub-par location with poor ventilation and infrastructure. And too pricey a location is a huge stress on the budget. Hence proved that price is not the only criteria to choose the office location for your business.
So, what could be the best bet to have the best of both worlds? Here are 4 best tips to choose an office space for your business with revenues outweighing the costs.
Whether you are leasing an executive office unit or choosing to purchase your own office space, the price to be paid must be factored in well. For a personal office space, you might have to shell out around 3 to 4 times higher rent every month if you are leasing an entire suite/building; when compared to a leased executive office unit. And while doing so, always consider if there is a buffer rent for the next 6 months to sustain. Do not forget to look for the hidden costs involved apart from the basic rent.
The best office space is the one which is easily accessible both for your clients and employees. After all, your business would always need them both to sustain, and losing either of them is not an option. Thus, a central place in your city, which is well-connected to your target client base, should always be the ideal location.
Building an impressive infrastructure demand investing huge amounts of funds. Where it is never a problem for MNCs, it is enough of a roadblock for a small business owner. Any business guru would advise you to take the advantage of shared infrastructural spaces. When big corporations are taking the route, it surely has it's own perks and benefits. With something as niche as ready-to-move-in salons or spas available for lease, the sector has come a long way for uplifting startups. Look for your niche to find the best setup and start operations right away.
Finding the perfect size place is vital to comfortably accommodate every employee and client, arranging consultation sessions, and factoring in the projected growth for the next 12 months. Do not forget the extra space needed to store extra office supplies and common areas for employee recreation.
Selecting the best office space takes up a lot of time and productive work hours. And to avoid such wastage every few months, it is always better to go smarter in the first go itself!.