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Tips for choosing your first office

One of the ways new business owners keep their costs low is by running their business at home. However, what happens if your business grows and you need to expand? You may need to consider getting a dedicated office.

Like all business decisions, you need to ensure your new office space has been chosen in the best interests of the business, not just because it looks fancy. If you choose your space for style over substance, you could forfeit the future of your business.

Tip 1 - Check your requirements

To ensure your new office space meets your requirements, you first have to be aware of what your requirements are. To stay on track during your search, write out a list of your requirements, so you can always have them on hand when youre looking through the different listings.

If youre unsure where to start when thinking about your requirements, consider the following:

  • How many people will be working there? - Considering how many people youre hoping to fit in your new office space will give you an idea of how big the space has to be; after all, you dont want them all crammed in uncomfortably or to be overpaying for a space thats too big for your current needs.
  • How much equipment will you need? - Its all well and good thinking Im hiring one person, so I need two desks. Are you also having a breakout area in the office? What about a printer? Every piece of added equipment and furniture takes up space. P.S. Dont forget office chairs to go with your desks.
  • Will you need it to come furnished? - Some office spaces come with furniture; however, you might find that you end up paying more rent for the space than for those that come unfurnished.
  • How long will you require the premises? - Knowing how long youre planning to be in the space could give you an idea of the type of tenancy agreement youre looking for. For example, if youre planning on moving out when you get another employee in six months, then a month-to-month agreement would work better than a two-year agreement.
  • How good is the internet connection? - Every business now needs an internet connection, especially with the changes coming with digital tax, so knowing what youre getting and how youre paying for it is crucial. Some office spaces include internet in the rent, some charge extra for it, and others require you to source it yourself.

A new office

Having your list of requirements written out is a good place to start when hunting for your ideal space, but it also has to work with your budget. You may have grand plans for a staffed reception desk, but you only have the budget for a pigeonhole. Knowing what you can realistically afford can help protect the future of your business.

Tip 2 - Flexible lease agreements

No one knows what tomorrow will bring, and even the best laid plans might have to change. The same can be said when it comes to growing your business.

You might rent an office space large enough to fit 10 employees, whom youre planning to hire over the next 12 months. But what happens if business slows down and you can manage with only two additional sets of hands? Suddenly, youre paying over the odds for an office where you dont need all the space.

Having a flexible lease in place means you can adapt the office space to what you need, when you need it. While it can be annoying moving office every time your business changes size, it can give you a sense of security knowing that you wont be paying out of pocket for a space thats too large or stuck in a space thats too small for what you need.

Tip 3 - Location, Location, Location

Have you considered how important location is when looking for your first office? Not only does it need to be convenient for you, but also for your employees. Because while work-from-home options are now available in most businesses, if youre renting an office specifically to accommodate in-person employees, they need to be able to access it easily.

In the same strand, you need to think about whether youll be hosting client meetings and whether they would be able to find and access your office. Because if your clients are frustrated trying to find you or spend more time than necessary trying to access the building, they might not be willing to continue doing business with you.

Finally, you need to consider the business located close to where you are. Do you fit in with them? Would clients expect to find you there? Or are there too many of the same type of business in a close vicinity? If the market is too saturated, you might find that youre spending all of your time attempting to keep up with your competitors, rather than working on the areas of your business that need attention.

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