How to Grow Your Business with Office Space Rentals
Part of running a business is planning for the future. Right now, that quaint little office in the suburbs outside any major American city works fine. However, while the location of your business has steady foot-traffic, in a year, two or even three, your business could experience an upswing, outgrowing your current office space.
For many business owners, finding an appropriate office that will allow the business to grow comfortably is a never-ending task. As issues related to parking and transportation arise and the occupancy levels become uncomfortable, business owners have to come up with office solutions quickly to address the space issue. Luckily, there are many ways find office space that will allow your business some room to grow.
Keep reading for some easy-to-implement tips regarding office space rentals that will allow your business to grow.
Consider Alternative Leasing Options
The conventional office space asks most to commit to at least a year, and for a better deal, renters have to commit for a longer time, up to five years in some cases. This can be problematic for business owners because market rates and the business’s own success rate are not guaranteed, which puts the business owner at a huge disadvantage.
Fortunately, in today’s fast-paced economy, would-be entrepreneurs can take a few routes that will allow them to save on start-up costs typically associated with leasing an office. Co-working spaces, executive suites, and virtual offices take the worry out of searching for office space rentals. With co-working spaces, professionals share a space in an open plan where common areas are shared. Executive suites are spaces that have an open plan or private offices. Finally, the virtual office space allows the business to operate with a physical address but space is used only for meetings, virtually eliminating the costs associated with overheads.
Those who are self-employed or businesses that are growing will find all three types of leases more flexible. For a start, these types of leases allow for a month-to-month payment plan. Also, these spaces provide staffing and additional amenities that would cost the business extra at the end of the month in a more traditional setup. For relocation purposes, alone, any one of these plans are good for businesses that are growing because the terms of the lease can be adapted as the business’s needs change.
Layout of the Space
One of the first things to consider is the versatility of the space that you will possibly occupy. Review the floor plan to see whether space can accommodate growth. One of the ways to check out the versatility of the space is to review the floor plan and add desks and people, rearranging the space until it looks too cramped. As a part of this review, you want to include both a kitchen (staff lounge) and bathrooms because initially, you might only need a small amount of space for both, but as the business grows you might need to adapt the space to accommodate more people.
Business owners should also look at the style of the building as well. In the initial stages, your business is going to need a space that is primarily functional. However, as the business grows, you will want to attract a more diverse clientele. One consideration might be whether the art and other furnishings can be updated without being overly expensive.
Look at the building’s infrastructure (cable, electricity, internet and phone access) to see whether the connections are outdated. With older buildings, you might have to have the office space refitted to adapt to newer technology. When thinking about workspace, consider whether or not you want to take on the added expense of making the space compatible with current technology.
Plan for Growth
Ultimately, the major consideration in planning to lease an office is to find a place that will attract clients but also can grow as the business grows. When looking for space, always keep in mind the importance of being able to adapt to new technologies, in addition to being able to inexpensively make room as more clients and employees occupy the space.
The best part of owning a business in today’s climate is having the numerous office solutions that will allow you to reduce the number of monthly overheads while being able to present a professional image to the public, office space that grows as your business does.