Finding the perfect office space for your business can be a daunting task as there are many available options. Hopefully, this guide will help you decide on the perfect type of office space for your new company.
A home office can be a great place to start on day one. One big benefit is that you don’t have to lay out any money on office space rental, you will likely want to upgrade you home office to ensure you and or your team can be productive. No rent will give you one less thing to worry about and you can see whether your business will take off before you must consider finding yourself an alternative space. For a smaller company, this option will work well, but if you need more space for supplies or deliveries, you may need to rethink.
Shared Office Space
If you like the idea of being able to leave home to go to work or know that you will need to employ staff straight away, a shared office space could be a good option. Either coworking or executive suite office space could fit your needs. It will allow you to rent the amount of space you need and, the chances are that as you expand, you will just be able to rent more space rather than having to change location. Another great advantage of shared office space is that it will give your business a professional image and address from day one. As soon as you open for business, a client could walk through your door, be greeted by the receptionist, and then get shown into a nice meeting room. In industries where the image is important, this could be invaluable to your business. Most shared offices will offer you creature comforts such as vending machines, janitorial and parking.
You may think that you need more office space than your really do to accommodate storage space. This can be a more expensive way to accomodate storage needs. As a start-up business, it will be important to keep your costs down as much as possible. So, it might be worth considering renting storage space separately rather than having to rent a larger office. It can save a lot of money and provides lots of flexibility. You can always rent more storage space or increase the size of your office as you expand and it could mean that your initial overheads are lower.
Your Own Office Space
If you know that you will need a lot of staff and a large amount of room, you may need to consider a large office from the start. This could be cost-effective if you know you will need the space soon after setting up, as it can save you the cost of relocating later. However, you should factor in the costs associated with renting your own office space. Among those expense is business property insurance. There are quite few companies, like The Hartford Insurance Company, available to arrange business property insurance for you at a cost-effective price that will give you peace of mind.
If you are considering either shared office or renting your own office space, make sure to consult with a tenant rep. We have some of the top representatives available to assist you and at no cost to you. Give us a try. Contact us today for a no obligation discussion on how we can make sure you avoid costly mistakes and get the right space at the right cost.