Renting your very first office space can be an exciting moment in your entrepreneurial career. It is important to take your time and find the office space that best fits your needs instead of just choosing the first one that becomes available. Below are 11 tips to ponder before choosing your first office space.
- Determine if you really need an office space—Before rushing off to find your first office space ask yourself, "Does my business really need an office space to survive and flourish?" Many times an office space can be unnecessary for a business' growth.
- Stick to your budget—One thing to be extra mindful of when searching for your perfect office building is your budget. Determine how much you can comfortably spend on your office each month and be sure to not go over your set budget.
- Choose a location that best fits your needs—If you've determined that it is a necessity for your business to have an office space, one of your top considerations needs to be the location of your potential office. If you have employees, you may want to look into a location that is close to them. If you do not have a full staff just yet, you may want to look into more populated areas. Another thing to consider when looking at locations for your office is the space that the building provides. Be sure it is large enough for your business to grow into; however not too large that you are paying for extra rooms/space that you will not be able to fill.
- Make a list—It may prove to be helpful to create a list of all of the features you would like your future office space to possess. It may be square footage, a particular lease length, a certain number of bathrooms, a break room area, etc. Whatever your "must haves" are, go ahead and write them down before beginning your search.
- Check out the parking area—Make sure to check out the parking area of any potential office spaces you may be looking at... Your employees and customers are going to need to have a place to park so make sure that there is a designated, secure lot. It may also be beneficial to have bike storage, as well.
- Determine who is responsible for repairs—Make sure you know who is responsible for repairs, should you ever need them.
- Know how you will receive the office—Sometimes the office you are shown may not necessarily be the office you would be getting... Make sure to ask exactly how the office will look if you choose to rent it.
- Find out what you are allowed to modify—Of course you are going to want to make your first office space your own, however there will probably be certain things the property owner will not want you to change... Be sure to speak with him/her before signing your lease to see what they will allow you to modify.
- Take into consideration the lease length—Take into consideration the lease length of the property before you sign any papers... Sometimes property owners will have a longer lease length than you may want to commit yourself to for your first office space.
- Study your lease—Make sure to study your lease before signing those papers. Read all of the terms and conditions and fine print. Make sure you understand everything completely.
- Bring your list on tours—Do you remember the list you made? Be sure to bring that when you go tour potential office spaces... You may find that your office requirements vary a little after looking at a few different spaces.