A big milestone for many small businesses is renting their first office space. As a small business owner, you need to locate quality office rentals that are inexpensive. Many small business owners get excited when thinking about renting their first office. However, there are some important things to keep in mind when renting office space that you might not be aware of. Continue reading to learn how to find cheap office rentals that meet your company’s needs.
List Your Requirements
Listing your requirements for an office rental can help you make the right choice for your business. Small business owners renting office space for the first time should make a list of the things that they need in their office space. List where you would like it to be located, what size you would like your office to be, and how long you would like to be there. You can also list thing you consider “must haves”. For example, if you are constantly answering and receiving calls on your cell phone, one of your must haves might be good cell reception. Depending on your area, you may need heat. In such a case, inquire about the heating bill. If you list your requirements before looking for cheap office rentals, you will narrow down your options and expedite your search.
Pick An Accessible Location
If you already have employees, you should pick a location that is close to their homes and easy for them to get to. Your employees are part of the reason that your business has grown enough to need office space. Choosing a space that is far from their homes could cause you to loose some of your most valuable team members. This tip might not seem important for small business owners who do not have employees. However, if you do not have employees, you should try to pick an office space near an area with potential talent. In doing so, you will find cheap office rentals that adhere to the needs of current and/or future workers.
Avoid Long Leases
Do not sign multiyear leases as a small business owner. This is something many small business owners make the mistake of doing. This is your first office building and your business is still young. Your business might unexpectedly expand and require that you move into a bigger space. Or, your business might not do as well as you expected and require you to downsize. Your flexibility is your best asset as a small business. Do not give it up in your first lease.
Calculate Space Requirements
Identify how much space you need for your new office space and try to stick as close to your needs as possible. If you will only have to fit a couple of desks and executive office chairs, do not purchase a space that can fit twenty. Renting more space than you need adds extra expenses that your business does not need. It’s acceptable to rent slightly more than strictly necessary, in case your business expands. However, you must be realistic. Also, If you have remembered not to sign a multi year lease, expansion should not be an issue.
Try A Co-Working Space
Try a co-working space to save money and enjoy a flexible arrangement. Co-working spaces typically house multiple start-up businesses. If your business is very new, a co-working space might be perfect for you. You can rent these spaces from an hourly basis to an indefinite basis. Use office organization ideas to create a collaborative, comfortable environment. You can take advantage of these rental practices, making it easier for you to find the right space to suit your needs.
Renting your first office space is a big step for many small business owners. Firstly, make a list of all the things that you want your office to have. Then, make sure that the location is close enough to your employees’ homes. Don’t give up your business’s flexibility by signing a multi-year lease. Rent for the space you need not the space you want. Try a Co-working space if your business is young or if you value flexibility. Keep these tips in mind to find cheap office rentals that meet your company’s needs.