Five things to consider when you need office space
Whether you have recently set up a business and are now looking for your first office space, or you are looking at relocating because you have outgrown your existing premises, there are a few things you need to consider first.
Top of your list of priorities, when choosing office space, should be the location. First things first, where would be most beneficial for your company?
If you own a digital agency, for example, then you might want to consider Bournemouth, Liverpool or Brighton. Why? Well, while you might have thought London was the location to be, it actually turns out that 74% of digital firms are now based beyond the capital and these three have come out on top.
Basically you need to do your research – imagine if you moved your business (and all your employees) to London, where you think you should be located, only to find that you are paying the extortionate rental prices for the wrong location.
At the same time you need to consider your staff and clients – is it easily accessible? Are there good transport links? Will you be uprooting people if you relocate your business?
Next you need to consider the size – how much space do you really need? You don’t want to settle on something too small and then find you start growing quickly and space is running out. At the same time, you don’t want to choose somewhere too big and then be paying for space that you don’t really need. Could you take advantage of self-storage to give you the extra space you need, perhaps? There are storage units across the country – which comes with the convenience of a no-ties agreement, cheap rent and flexibility.
The length of the lease
This is especially important if you are a new business or if you are relocating a significant distance away. You want to ensure that your business will be a long-term success and the location is right for you before being tied down to a long-term lease.
Does it have any perks?
You need more than just space – so consider the benefits that come with it. Is there an on-site café or gym? Is there parking? Is there a stationary cupboard or printing room you can access? You want your employees to enjoy where they work – and if these are available without you having to provide them all personally – then even better! As well as this you want benefits for the business as a whole – that will make life easier and perhaps save you money.
Can you put your own stamp on it?
Take Innocent Drinks, dubbed ‘Fruit Towers,’ as an example – the office has a “chill out zone” complete with synthetic grass, park benches and a ping pong table. This alone starts to tell us a lot about the company and is why it has been high on many “best offices to work” lists.
Your office space is a reflection of your business – which is why it is important to be able to put your own stamp on it and make the space your own. So, make sure you find out whether you are allowed to do this before you commit to anything.
While this is an exciting time for your business and the start of a brand new chapter – it is also important to think about it carefully. With the average length of commercial property lease being between 5 and 10 years, it is a long-term commitment and huge expense – so you don’t want to get it wrong!
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