Factors to Consider Before Choosing Startup Office Space
- August 17, 2017
- Posted by: APS Group
- Category: Blog
With lots of different options out there, it becomes intimidating to choose the right working space for startups. How can you navigate the process of finding work space? So, in this post, we’ve highlighted some details how startups can determine what kind of office space suits them.
Clearly Defined Objectives
Make yourself prepared and start with clearly defined objectives. Take some important aspects in mind like location, transport, parking space and optimal space configuration. Some other important considerations include technology, timing and budget. If you successfully wish to find and occupy a space, always start with a clear understanding of your needs, budget, process, time and specifications.
Involve Important People
You need to at least get your IT, HR and finance departments from the start. Make sure you have a team of advisors who specialize in representing tenants, specifically startups and newer businesses. Also, get an experienced real estate attorney to help you negotiate your leasing process. Check out with your attorney, if the terms, and conditions are protective and fair. This is important to avoid any pitfall.
Right Time to Find the Working Space For Startups
Usually, small businesses ignore the time and effort needed to find the working space for startups. If you’re finding office space on lease, you need to consider many factors that will affect the timeline for your search. The market conditions, availability, negotiation time, size space, permits, build time and lease documentation.
Evaluate the Space Required
Most of the office spaces are available in carpet sizes of 300 sq. ft upwards. Below are some tips on how to choose the right size working space:
More efficient spaces
Look for efficient spaces such as angled corners of a building and rectangular spaces. Floor plans and layout matter. As it is likely to have two spaces of same square footage with different design and layout.
Always choose to lease the space so that you face no issue while reaching the occupancy limit.
Expansion rights on contiguous space
It is important as growing in an adjacent space is far less disruptive to your business.
Narrow Down the Search
You’ll need to consider all the feasible options. And this can really be a time-consuming process. There are various variables that can affect the quality and quantity of your working space and help narrow down your search to a manageable list.
The longer lease term means more choices. But, always identify building and space needs before you head off for signing your lease term. Choose only for the length of term that suits you.
Rather than choosing rent per square foot, determine up front your budget for rent and office related expenses. This expenses may include relocation, tenant, insurance, parking, tenant improvements, furniture and other office expenditures. Try to focus only on alternatives that do not overdo your budget and will help narrow down your search to a manageable list.
Relocating is disruptive for everyone. So, ensure you choose a location that your employees can commute to easily. As a startup needs to create a right impression on its clients, consider whether or not the location is convenient for them.
Also, check out the availability of basic amenities like conference room, food options, security, kitchenette, housekeeping and maintenance facilities and even banks, boutique offices, ATM’s and retail stores. This can help you differentiate between two similar space options. The brand image and company culture must be your top priority when searching for working space for startups.
Need a working space for your startup? Call on +91 9569300400 to find an ideal office space at Tricity Trade Tower that offers a great value for your money.