Selecting an office space is a monumental task for any company, but it is particularly challenging for young companies doing it for the first time. While landlords typically want a tenant to stay for 5 to 7 years, this is often not ideal for new, growing companies who don’t really have an idea of where their business will be in the near future. While this can be a bit of a pickle for startups or growing companies, the key to finding a suitable office space is thinking about the specific needs of your business. Here are a few things to consider when searching for an office space, as suggested in the article “Choosing the Best Office Space for Your Startup”:
To figure out what kind of layout your business needs, think about what kind of company you are. For example, if your work is based in creativity or even technology, you might want to follow the open office space trend to foster an environment of collaboration and idea sharing. However, if you are a law firm, you might want something with more private spaces so clients can feel that they can discuss sensitive issues in a more one-on-one environment. If you think your company could benefit from contact with similar businesses, look into options that allow you to share kitchen space or conference room with other tenants. This might give you an opportunity to meet and work with other small businesses that complement yours.
#2 Special Features
Make sure that an office space has all of the amenities that your business requires. A good way to approach this is to think of things to your business absolutely needs and things that you would ideally like to have. Think about not only features within the space, such as the kitchen or conference rooms, but also things like the parking spaces or restaurants and other amenities services in the area that your employees might need.
#3 Lease Length
New startup companies typically want to aim for leases that are on the shorter side. You might only have a handful of employees now, but that number could grow and a matter of months. Keep an eye on your long-term business plan as you look at spaces, and try not to get locked into something that could stifle your growth. Talk to landlords about your options if your company grows, such as subleasing space or having the potential to expand into other space on the property.
This obviously needs to be a bottom line in your decision. While businesses often calculate costs according to the price of the space per employee, it might be helpful for new business to think about how much you can actually spend per month total for your team. Don’t forget to factor in things like utilities, furniture, and other hidden fees, as these things can quickly increase the total cost of the space. Remember that a lot of these things will differ depending on the location where you are looking. It is important to give yourself several months to research and plan a transition before actually moving.
If you are a small business looking for your first office space, is important to have a good idea of what you want before you begin the negotiations. Often this is the kind of decision that can make or break a business, so make sure to consider it from every angle before investing in a rental space.
Are you an entrepreneur looking for a small office lease in Kansas City? Give a commercial real estate broker in Kansas City a call at 913-685-4100 for more information about our available office spaces.