So your small business has become successful enough to warrant moving operations out of your basement or garage — congratulations!
While it’s an exciting step, choosing an office space for rent can also be a daunting proposition. How do you know what to look for?
Before you start browsing commercial real estate listings, read on for some questions to ask yourself in order to ensure that the office space you rent is perfect for your small business.
How Many Employees Do I Need to Accommodate?
If you’ve been conducting operations out of your home, but now need to find an office space for rent, it’s likely that your staff has grown. (Of course, it could also be that your spouse is tired of eating dinner on the couch because you’ve taken over the living room table!)
Even if you have just hired one part-time assistant, give some thought to what your business will look like a year or two down the road. With any luck, continued success will necessitate a few more employees to keep things running smoothly.
If you envision having 5, 10, or even 40 more employees in the next few years, make sure the office spaces you consider are large enough to comfortably accommodate them. You don’t want to have to up and move again anytime soon.
Which Equipment & Work Spaces Will We Need?
Similarly, plan for expansion when it comes to the equipment, inventory, and workspace you will require.
Is there storage space for the supplies you’ll need to keep on hand? Is a conference room necessary? Do certain members of your team need a quiet, enclosed office space in which to work?
Naturally, if you expect to receive clients, investors, or other visitors to the office, you’ll want to choose a space that is attractive and reflects your business’s style. If it’s just you and that PT assistant, things can be a little rougher around the edges.
What Are My Location Requirements?
The nature of your business may determine where you look for office space to rent. A retail establishment or service provider needs to be in an area with lots of foot traffic, convenient parking nearby and visibility.
On the other hand, a marketing company that conducts the bulk of its business online can be tucked away in an office park or an out-of-the-way building.
When searching for office space to rent, consider whether your employees will be able to take public transportation to work or ride their bikes from residential neighborhoods. Location can make a difference in the type of talent you will attract.
Can I Afford It?
Perhaps the most important consideration is the cost of the office space for rent.
In most industries, it’s smart to keep your rent costs below 10% of your gross income. Should your business not grow as rapidly as you expected, it won’t matter how beautiful your office space is if you can’t keep the lights on.
An Alternative to Finding An Office Space for Rent
A virtual office space can be an excellent solution for small business owners.
You might not even need a traditional, permanent space. In that case, a virtual office can provide you with an address and communication tools such as a receptionist or answering service. A virtual space can even incorporate beautifully equipped conference and meeting rooms where you can conduct client-facing business when necessary.
For more information about virtual offices, and to find out how affordable they can be, give us a call at Twelve Twenty Two!
Twelve Twenty-Two Offices
1222 SE 47th Street
Cape Coral, Florida 33904