Things to Keep in Mind When Selecting an Office Space for Your Startup

Leasing an office space for a startup is a huge challenge. This is the key reason for the success of Co-Working spaces who offer spaces for Volatile at a premium price. However, these are not the best spaces as they don’t offer privacy and conducive environment for many. Startups can hire their own private office if they work smartly on it. Here is how you can hire the best office for your needs.

Budget

Hire an office that you can afford even in a rough patch, plan such a budget for the space that you can set aside an amount equal to six months of rental aside before leasing the space. Don’t look for a better place, look for a place where you can stay for long in case of austerity.

Distance for Team Members

Always choose a place which is convenient for your workforce. Remember, a great looking office space is of no use if your team is losing time and energy in reaching it. The best place is one which is closely located to the dwelling places of your workforce. The closer they live to your office, the more time they can spend on their work.

Legal Agreement

Startups are volatile, your team might grow in a flurry if you have one successful quarter, it might go the other way if your performance falls below the mark for a quarter. So, make sure you have place for leaving the place for better or for worse. Always remember, startups are volatile, they can expand in a blink and might get out of business in a flurry as well.

Trusted Agent

Find an agent you can trust as they draw the paperwork, help you negotiate better price and better legal agreement with the landlord. Top agencies like https://www.execusuitesinc.com/offer complete protection for both parties. They even offer mediation when you need to move out or need a larger space.

Negotiate Well

Negotiation is key to getting a better legal agreement, better bargain on the rental and flexibility to pay the rent with a little delay in case of a crisis. Such agreements are made only before leasing the space, once you have leased the space there is no room for negotiation. So, take time and negotiate with the landlord for better rent and legal conditions.

Work on Extra Expenses

Once you lease a space, there are other expenses like housekeeping, internet, etc. Plan well ahead and make a list of all the things you will have to arrange immediate to start working in the space and the expenses that will incur every month when you are running your business.

Choose the Right Size

The toughest call is to choose the right size, your team is volatile and can increase or decrease in blink of an eye. So, there is no right size for the future. Lease a space according to your current needs with 10-20% of extra space to make sure you don’t have to move out immediately when your business grows. Always remember, you can send an independent team of sales, design etc. to a nearby Co-Working when there is sudden demand of workforce.

Choosing the right space is challenging, you can never predict the future of a startup. So, always ask yourself to meet the requirements of today instead of being future ready. Startups have small budget and don’t have the means to be future ready.

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