Deciding the right office space for your business is more difficult than starting the business itself. Renting your first office space may sound exciting. But choosing any office space without considering the future of the company, can put your business in shade.
Considering the fact that a most of lease period of commercial space can go from three to five years, it is important for entrepreneurs to consider the following criteria before choosing the ideal deal for office space.
We have listed down few things you need to consider before renting an office space.
Business goals vary from business to business. Your office space can have a huge impact in aligning your team with your business goals.Before choosing your office space, consider asking the following questions to yourself.
It is ideal to match your business goals with the atmosphere you are providing for your employees as future prospects.
For business owners looking for the possibility of making a move, here are some of the most compelling reasons to work in a shared office space.
This is one of the most important factors while choosing your ideal space. From shared office space, executive office suite to virtual office, there are a number of options for modern entrepreneurs to choose from. It is imperative to decide on what type of office space you wish to move in before deciding the location, cost of the space or amenities required.
For example, when it comes to virtual office space, technology is the vital factor than having a physical location. Likewise, Executive office suite considers space and locality as the vital factors than the technological amenities. Depending on the size and type of business, you could choose the type of business that matches your business image or is cost efficient to run the business in the long run.
The area where your business is located is more important than you can guess.A posh locality or getting a space in Infopark can give an impression of financially sound company with the potential of longevity and not to mention high employee satisfaction.
Before choosing the location, consider these 3 factors:
If you have the choice of having furnished office space in Kochi, for example, the Indian city known for its entrepreneur friendly offerings, the worry of finding the right locality gets crossed.
This is one simple yet costly mistake most of the business owners make: No room to expand! While choosing an office space, It is important to check that the office space can accompany your technologies and employees in the long run. You need to consider the possibility of growing your company in future, which means more employees and more space to accompany them.
For business owners to have a long-term gig, these factors are vital to please the stakeholders in projecting the growth and image of the company.
New office space means relocation costs and fit out expenses for your business. It is vital to plan all the cost which you are likely to incur and how your business can sustain the costs before choosing your new office space.
More often, your office will be alive 24/7, if you have international clients. In this case, security of your employees during the night shift should be taken into consideration. Choose a space which provides high level of security and addition power incase of power failure.
Amenities are one of the least considered factors while choosing an office space. While renting your office space, make sure there are banks available nearby for ease of transactions and amenities like coffee shops in case of business meetings. Amenities inside the office space like cafeterias and meeting rooms are also something which both your clients and employees are likely to enjoy and appreciate.
These criterias can vital for your business to sustain in the long run and to have an office space you will never regret to have!