How to find cost-effective office space?
If you started with a home-based office, but now have a few employees and are looking for cost-effective office space, here are some tips for finding the perfect space for your business.
Location – Office spaces in the heart of the city, near the airport or in a mall will often cost a lot more than less prime locations. If most of your customers reach you online or if you need to visit your customers, maintaining an office in prime locations is unnecessary.
Infrastructure – For small businesses running heavy equipment or those that need quick online access like a technology company, it is essential that you consider if the building owner offers additional services. However, if these services are not required, you can look at other sites that are less costly.
Square footage – Set out a minimum of 125-225 square feet per employee.
Growth potential – If you intend to hire more staff or equipment shortly, include some extra space. Start off by creating a growth plan and then attach a timeline to ensure that your hiring and equipment goals are met.
Lease – Newer buildings will have new air conditioners, heating and will also have fewer repairs. However, older buildings might have older facilities and equipment that don’t work as well or need constant maintenance. Before you sign a lease, create a checklist and make sure every area is clarified before signing. You should also ensure that the owner covers large repairs and these details included in the lease agreement.