Most startups start up in a casual workspace, often at home, or sometimes in a coffee shop or library, or anywhere you can plug into wifi, get focused on your project, and begin to build your dynasty. But sooner or later, as your company grows and you acquire partners or employees, and your client base begins to expand, you will need an actual office space to conduct business.
Making the leap from flying solo to building a team brings with it growing pains, and also additional expenses that may strain your resources. When it comes to choosing an office space, you want to get the most bang for your buck, without shooting yourself in the foot. These five tips will help you make informed decisions that can save you money and keep you from getting in over your head.
- Location, location. In looking for an affordable office space, it is easy to get focused on money and forget about how your location can affect your business. Issues like safety, parking, easy access, and natural light should all be taken into consideration. Is the space located near enough to public transportation so your team and clients can easily get there? Will the surrounding area reflect negatively on your company’s image? Even if the price is right, don’t let location be a tradeoff that hurts you in the long run.
- Do your homework. Take time to do some research to find out more about any space you are considering. Speak to other tenants to learn more about the landlord and building. Find out what issues have arisen in
- the past with the building and the neighborhood. Take a walk around the neighborhood to get a feel for the general vibe. Identify nearby businesses like restaurants and shops that could be an asset.
- Consider your current needs. Make a list of “must-haves” to help you identify what constitutes a deal breaker. Don’t put yourself in a position where you are forced to make do with a space that falls short of meeting your needs to effectively run your business.
- Visualize your future needs. It is hard to predict what the future holds, but when you rent an office space in the early stages of your business, you can expect some growth. Will the space still meet your needs six months or a year from now? Don’t get locked into a long-term commitment for a space you will outgrow before the lease is up.
- Opt for flexibility. Business can be unpredictable, especially when you are just getting started. A shared workspace can provide the ideal solution for you. Most offer flexible terms that allow you to upgrade of downsize as needed, at reasonable rates that won’t drain your budget. Add in attractive furniture and decor, multiple amenities like cleaning, conference rooms and kitchen space, parking and accessibility, and you will be patting yourself on the back for being such a savvy entrepreneur.
Office Space that Grows with Your Company
Getting locked into an inflexible long-term lease for office space can create unnecessary expenses and limit your company’s growth. At Bridgeworks, we understand that companies need some wiggle room to adjust as their business grows. When you rent with us, we make it easy for you to upgrade or reinvent yourself. Enjoy the amenities of a clean and professional work environment where you can meet with clients, brainstorm with your team, and network with other professionals who share your values. Contact us today to schedule a tour, and see how Bridgeworks can work for you.