Unfortunately, finding the perfect home for your business is not quite as simple as stumbling across offices to rent that fit in seamlessly with your budget. There are several other important considerations that you will need to keep in mind upon commencing your search. These considerations are highlighted in detail below.
1. The type of office space
There are three main types of office space available to rent – and this goes far beyond just choosing between small and large offices.
- Leased offices
The first option is that of conventional leased offices. This is when you rent an office space from a landlord for a certain period of time (usually a good few years) and pay them a specific amount of rent on a weekly or monthly basis. Leased offices are great options to consider if you already know which area you want to settle down in.
- Services offices
The second option is that of serviced offices. These offices promise more flexible leases and usually come furnished and ready to use. They help to reduce the amount of downtime involved in the move and are ideal alternatives for businesses that are still working on becoming established within the local market.
- Co-working spaces
The third and final option is that of co-working office spaces. Co-working office spaces are essentially shared office spaces that are occupied by the employees of more than one business. The main benefit is that you only rent the amount of space that you need, which could save you thousands in the long run.
2. Your partners
In order to successfully find the office space that fits in with your needs, you might require a bit of professional assistance and input along the way. The best source of information and guidance is that of a commercial property website within the area of your choice, such as The Workplace Co., for leased and serviced offices close to Kings Cross station, for example.
3. The location
Location is everything when it comes to business. Ultimately, you need to ensure that you are setting up shop in an area that is home, in abundance, to the demographic that you are targeting. However, what is even more important is to do plenty of research into other businesses just like yours that may be operating close by.
There is nothing wrong with a bit of competition. Having said that, you definitely do not want to lease an office space in a region that is already overwhelmed with businesses that offer exactly what yours does.
If you are uncertain whether you have made the right decision in terms of location, it can be much safer to opt for serviced offices, as opposed to leased offices. That way, you will benefit from a shorter lease to suit your requirements and avoid hefty penalty fees should you need to move elsewhere.
So, be sure to do plenty of research and to get the right experts on your side right from the very start. You will soon be moving into your brand-new office space ready to make waves with your products and services. Good luck!