5 Things to Consider Before Renting an Office Space

Whether you are a new startup or an established business with growing pains, finding the right workspace is an important step toward successfully expanding your business. Providing a productive work environment for yourself and your team can be a game-changer when trying to establish and legitimize your brand. But before jumping at the first office space that becomes available, you should carefully consider the unique needs of your business, and make sure you understand the costs of maintaining an independent office space.

5 Important Considerations for Choosing the Right Office Space

  • Budget: While money is not the only factor to consider when renting an office space, it is probably the most important one. Many startups with optimistic plans for growth and a generous pool of investor funds make the mistake of splurging on their first office space. However, funds can run out quickly, and if your product is not making enough money to meet your expenses, a high-end office space can literally put you out of business.
  • Overhead: In addition to monthly rent, be sure to factor in overhead like electricity, water, phone, wifi, furniture, cleaning, security and other monthly expenses. Will moving to a larger space require multiple phone lines? Will you need to hire a full-time receptionist? Will clients visit you at your office, and if so, will they require special amenities?
  • Location: While it is nice to have an office space within biking or walking distance from home, there are a number of factors besides your personal convenience to consider when renting your office space. Some things to bear in mind are the commute distance for employees, the relative location of your clients, space for shipping and receiving, access to major highways, available secure parking, and the overall safety of your office location.
  • Future Growth: It is important to strike a balance between meeting your immediate needs and planning for long-term growth. Renting office space often means committing to a long-term lease, so a too-small space could inhibit your ability to grow your business. However, committing to a larger space than you need can cost you thousands in additional fees and overhead, so leave yourself some room for growth, but don’t go overboard.
  • Image: Your workspace embodies who you are as a company. If clients will be visiting your office on a regular basis, you will need to furnish and decorate in a way that projects a professional and polished image. Your work environment and office culture also has a profound impact on attracting and retaining staff, and on your team’s productivity.

Long Island Office Space for Rent

Before you sign a lease on a long-term office space, consider a co-working space instead. At Bridgeworks, you share space with other business owners like yourself who are in the early stages of growth, and not yet ready to commit to an independent office space.

At Bridgeworks, you can still enjoy the privacy of your own office while sharing spaces like restrooms, a break room, printers and FAX, cleaning and other amenities. Entertain your clients, hold meetings and receive mail and phone calls. Save money while maximizing productivity in a brightly lit and well decorated space, centrally located for the convenience of staff and clients alike. Contact us today for a tour, and see why Bridgeworks offers the perfect solution for your office space needs.

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