Did you know that Google was started by Larry Page and Sergey Brin in a garage? Or that Facebook got its start in a college dorm? Being an entrepreneur, your home or garage can serve as the first headquarters for your newly launched business.
But as the business grows, it becomes necessary to move to a more professional setting. Physical office space will not only house your business equipment and employees but also act as an extension of your brand.
While remote working is growing in popularity, a physical office space helps maintain a consistent, productive work environment. It also presents an optimal setting for collaboration and learning.
If you’re looking for the perfect office space for your growing venture, here are some factors to consider. Take a look.
A prime location plays a crucial role in the selection of your office building. An office in a well-connected urban area might cost more, but the convenience is worth the expense.
The office should be located in an area where employees can easily commute without wasting too much time or money. The same is applicable to your clients. Even with video conferencing tools, many people still prefer to negotiate major business contracts in person.
The office space and layout should be adequate for your current and near-future needs. It should comfortably accommodate all your current employees and equipment. It should also be spacious enough to keep up as your business grows.
Having electricity and internet connections is essential for every business. Factor in the cost of the connections, and ensure that the service is top quality and uninterrupted. Explore AGL electricity rates to discover a suitable plan for your new office.
Private vs co-working
When the business is still in the growing stages, you might not be in a financial position to afford a private space. That’s where co-working spaces come in. By renting a co-working space, you can enjoy the amenities of a professional work setting without the overheads.
On the other hand, if your business involves working on confidential projects and demands privacy, then a co-working office probably isn’t the best idea. Rent a private office to protect private business data.
Just like when you’re searching for an apartment, you need a friendly landlord when you’re choosing an office as well. Look for a landlord who is professional and trustworthy. Ask neighboring businesses about their experiences with the landlord, or connect with previous tenants before signing the lease.
Is a conference room a must for conducting business meetings with your clients? Do you need a kitchen for your late-working employees? Make sure your new office is equipped with such amenities or has the potential for renovations.
Your office will be a space where you host potential clients, so it’s necessary for it to be a good representation of your brand. While the interior of your office is easy to alter, it’s much cheaper to choose an office space that already aligns with your brand image.
The bottom line
Take your time in selecting office space and don’t rush into signing a lease. When you’re considering a space, remember that the rent is always negotiable. Office rent will become a major operating expense, so make sure you do your best to lower it as much as possible.