As a business owner, you have plenty to worry about. The hiring process and employees, advertising and marketing, as well as the financial state of your company affairs are all major concerns for the typical business owner. One of the biggest problems you could run into is having an inadequate office space. Before you choose an office for your business, make sure you understand your officing options to decide what fits best with your company’s needs. Here are a few of the options you will want to take into account.
Office Building Classifications
The Building Owners and Managers Association (BOMA) is the end-all authority on office space leasing and rental. This organization has separated office spaces into three classifications. These classifications do not have specific criteria so that they can be adjusted to different areas. The three general classes are as follows:
- Class A: High quality space, best possible utilities, ideal location, accessible to employees, and excellent security.
- Class B: Not as well maintained as a Class A building, still quality utilities, has functionality although not ideal, and decent location.
- Class C: Less desirable, not a good area, difficult to lease, and mostly obtained for remodeling purposes.
Office Building Types
Once you have selected which building classification you want and can afford, you need to decide what type of building will work best for your business needs. Until you are searching for a potential office building, you may not realize how many different types are available.
- Traditional: The most common office space. The leases can run for up to 15-20 years on these spaces. Typically they are over 1000 square feet in size, allowing for a high functionality and many employees.
- Executive Suite: These suites are smaller than the traditional space and are under 1000 square feet. Although they offer more flexible leases, they do not allow the room for extra storage or employees. Executive suites work best for small businesses run by just a few experts. More
- Coworking: This is a relatively new style of shared officing where the community is the focus. Their mission to enhance the 3 Cs of community, collaboration and cooperation. More
- Virtual Office: A virtual office space is not necessarily the place in which your office is directly located. Instead, it is an office where you can have your company’s mail and faxes sent to, and a space to hold meetings as needed. If you want your business to be run out of your home or a similar location but still have a professional image, a virtual office lease is for you. Additionally, the leases are most flexible and are renewable on a shorter term basis. More
Aside from these common office types, there are a few others to consider. Will your business require a warehouse, and can it be run solely from the warehouse location? Are you interested in establishing other business relationships by moving to a business park? Will you have a small staff that could fit comfortably in a corner office?
When choosing an office space, you should keep in mind not only what your business will require, but what will make your employees feel comfortable and prepared to work. After all, you want a space that will engage them in their work.
Consider if you want the work area to be open or closed. Will your employees work better when they are isolated or could an open and collaborative atmosphere be better?
Also consider what the office space provides in terms of break areas, recreation space, and office hierarchy. Your number of employees will also affect the storage area, IT infrastructure, and even utility costs. Remember that your employees are a vital part of your business so you need to accommodate to their needs while selecting your office rental.
Choosing the right office space is just as, if not more, important as choosing a new home. After all, your office will be your business’ home, possibly for several years to come. Choose a space that fits your functionality, your needs, and your price range so that you can focus on running your business in a comfortable environment.
Guest post by: Theo Schmidt who has an interest in computer science, business, and engineering, and he uses that interest to fuel his blogging. He is a blogger for Montreal’s Liaisons Business Center office rentals.