When you’re running a startup out of a shared workspace or even your parent’s garage, it might seem like getting your own office space is light years away. But as your startup grows into a sustainable small business, chances are, you’ll quickly find yourself out-growing your space. Even if you’re feeling a space crunch, you shouldn’t be hasty when it comes to choosing office space. With rent being one of your biggest operating expenses, every startup should be careful and strategic about where they call home.
Before you sign the dotted line, make sure to consider these five things, so you can find the perfect office where your team can get to work and be happy too.
1. Location, Location, Location
Your office location is everything. Narrow down your target list of neighborhoods and locations, think about what’s important to you, and do your research. More than anything, you want your office to be accessible and efficient. Time spent commuting to and from meetings or lunch isn’t time spent productively, so choose a location that puts your team close to the people they do business with regularly. And being close to convenient transportation will make commutes easier- which will decrease stress levels and make everyone much more relaxed and happier.
2. Infrastructure 101
When shopping for office space, startups usually make the mistake of glossing over the importance of the building’s infrastructure. The truth is, your team won’t be very productive without a solid Internet connection, phone lines and more. Make sure the location you pick has ample connectivity, enough bandwidth, and a good selection of service providers, while leaving plenty of room for your business to grow. As a resource, our website, wiredscore.com, has a database of detailed connectivity information for hundreds of buildings, and can give you a clear idea of what to look for and what to talk to your landlord about. And keep in mind that it can take time to wire, configure and test office networks (and plenty can go wrong), so be sure to address all your infrastructure concerns with your landlord before your move-in date – or your team could have a lot of unwanted free time on their hands while you get set up.
3. How Much Space?
Plan to allocate about 175 square feet of working space per employee, but if your team can benefit from working closer together, you can trim that ratio down a little. Your company will use certain areas of your office more than others, so design your floor plan to accommodate heavier traffic flow in those areas. Since you’re pretty committed to your floor plan once your team is moved into the office, being strategic now will help you maximize your productivity in the future.
4. Your Ideal Relationship
When comparing offices, be sure to research the lease and ask your broker or landlord to explain the details, so that you fully understand what will happen in every scenario – like if you had to break a lease or expand into a bigger space. With startups, a lot of things can – and will – change in your business plan, and the last thing you want is to have signed an office lease for a set amount of space and time, only then to outgrow it in a flash without the potential to expand within your building or get out of your lease. Talk to your landlord or broker- there are buildings and landlords that will work with you to allow for the kind of flexibility that you may need.
5. The Price Is Right
Finding an office that’s in a perfect location, is close to transportation, and comes with top-of-the-line facilities and infrastructure, is probably going to be pretty expensive. If you don’t want to spend all that money on office space, then you’ll need to find a compromise. While shopping for office space is fun and gives you a chance to imagine the possibilities, be realistic, and get an office that you need, not want, while still giving yourself some room to grow.
Considering these five things before looking for office space will make your search smooth and seamless. But before you do anything, first sit down and spend some time deciding on your office space requirements. Settle on what kind of working area you want, the number of offices, seating types, and amenities you’ll need like break rooms, cafeterias, or conference rooms. Your office is your company’s home. With a little bit of focus and a lot of strategy, you’ll be hanging up your sign on your new office door in no time.