Finding an office that suits your company can be a tricky task. There are lots of things to consider when you’re searching for your dream workspace: the price, location, and type of office, to name a few.
To help you navigate the office space market, Lilli Hender from Office Genie, will guide you through everything you need to know in order to find your perfect workspace.
First things first…
There are three main types of office space, get your head around the differences and you’ll be able to decide which is best for you and your business.
Shared
A shared office is generally either a coworking space or an office rented by another company with a few spare desks. Consequently, individuals and groups from different organisations occupy the space. Lets are usually on a rolling contract and your work station will be set up from the off. You’ll have access to basic facilities and often be given the option to work the hours you choose.
Advantages: Lots of flexibility and a sense of community
Disadvantages: Lacks some of the facilities in a serviced office. There can be security issues associated with sharing a space
Serviced
Serviced offices are purpose-built, all-inclusive office buildings that house a number of businesses. There is usually access to some, or all, of the following services: a reception, postbox, IT support, and executive meeting rooms. You simply occupy the space and use the services, you’re not in charge of the building, its upkeep, its day-to-day running, or its contents.
Advantages: All-inclusive, reliable services
Disadvantages: High price point
Traditional lease
A traditional leased office involves taking out a lease on a property and managing most aspects involved in its use as an office. The tenant is responsible for the space’s maintenance, outfitting, and management; organising everything from setting up the broadband to providing the necessary equipment. The contracts for traditional leased offices can be anything from 3 to 10+ years.
Advantages: Lots of control at a comparatively low cost
Disadvantages: Lots of responsibility and high initial spends on legal fees and furnishings
Price
After you know about the various types of office space, you’re better informed to make a decision on the price you’re willing to pay. If you have a small company, renting desk space in a shared office can provide the perfect balance between flexibility and cost. Desk space can be anything from £85 per person per month in more rural locations to £700 in highly sought-after areas of London.
A larger company would suit a serviced office or a traditional lease. If you’re busy and have a long list of priorities that come before fitting out a new office, a serviced office would be great. The services available often make up for the steeper price.
If you’re the opposite and hoping to create an on-brand home for your business, a traditional lease is usually the answer. While the initial price of setting up can be high, traditional leases have a lower monthly cost and you can personalise the space, making it truly feel like your office.
Location
When you’ve set your budget, you can start exploring potential office locations. With each location you consider, ask yourself the following questions:
• How easy will I, my employees, and my clients, find getting to work?
• Will commuting costs be high?
• Is this a prime location for my business?
• Can I comfortably afford this location?
It’s a difficult task but you have to find the most favourable solution for all of the problems posed. For example, a city centre may seem desirable (particularly when a prestigious postcode comes attached) but the property prices are generally higher. Similarly, a rural location could entail a difficult and costly commute for employees and clients despite a potentially lower price.
Weighing up the advantages and disadvantages of a location can take some time. Visiting offices in the areas you’re contemplating can prove really useful. It helps you get a feel for the location and you can see first hand what you’d get for your money.
Future aspirations
As a final point, it’s worth considering where you want your company to be in the near future. If you’re still a small company, perhaps you’re the only employee, a flexible option in a serviced or shared office would probably be best. A couple more desks can usually be added if necessary.
If a longer traditional lease appeals, there’s always the option to earn money renting out spare desks while you’re waiting for employee numbers to rise.
Finding the perfect office is no mean feat and one that takes time, money, and effort. There are so many offices out there and there’s bound to be at least a few that would be a great fit; using the tips above should help you find them!
Author Bio –
Lilli Hender writes for Office Genie: the desk and office space search engine for entrepreneurs, startups, and small businesses.
