Finding the right office is an important step in your business’s evolution. You’re ready to make your mark on the world – you just need the right space from which to do it! Taking the time to do your due diligence, research your options, and select the best fit is critical. In this article, we are going to outline some tips for renting your first office space. After all, this will help you build brand awareness, create a professional image, foster legitimacy and trust, and, of course, set the scene for productivity, creativity, innovation, and growth. Now… How do you do it? Check out these five tips for renting a private office.
5 Tips and Tricks for Renting a Private Office Space
Before you sign on the dotted line:
Ask Yourself If You Really Need an Office
Many professionals do not need a private office, depending on the nature of their work and business. Some are perfectly productive and happy working from home – or even from the neighborhood library or coffee shop when they need a change of scenery. But others require a space that is dedicated to their business for a variety of reasons:
- Legitimacy. Being able to provide a physical and reputable business address is typically more favorable than offering a standard PO Box. While you could provide your home address, there are safety and privacy issues with this.
- SEO. Search engine optimization helps potential customers/clients, partners, investors, and other key stakeholders to find you online. When you have a physical address, and you verify your Google listing, you will show up more prominently in searches and on Google Maps.
- Productivity. Many professionals find it easier to maintain and increase productivity, creative energy, and satisfaction when they have a dedicated and professional workspace. This is true, too, if you are bringing employees or partners onto your team. Your space says a lot about you as a business.
- Meetings. When you meet with important stakeholders, from potential investors and lenders to prospective customers and clients, they will make a snap judgment about your business based on your surroundings. Fair? Well… while we don’t judge books by their covers, we do tend to attach a lot of meaning to the environments in which we work. An office is private, comfortable, and professional.
Think About Your Needs
One of the best tips and tricks for renting a private office is on space. How much space do you need? Is this likely to change in the next few months? Year? Do you plan on adding new team members? How much space do you/they need to do your work optimally? Do you need private space (i.e. a door you can close!) or would a communal, coworking situation work for you better?
It is important to keep these questions in mind. Typically, commercial leases are expensive and have multi-year commitments. A space that works now might be too small or too big in six months or a year. A space that is fine for your work may not be suitable for a small team. Any number of issues can pop up in your business, and it is important to have space that can evolve with you.
Nail Down Your Budget
The last thing you need at this point is to go into debt to secure the space you need. While you do have to spend money to make money, as they say, be sure to set a reasonable budget that is within lines of your business needs. Include associated costs involved with the space, including maintenance, mail service, furnishings, equipment, insurance, etc.
You also need to know what amenities are included in your agreement. These can include: high-speed internet, fully furnished spaces, onsite management, printers/scanners/copiers, etc., available conference space, coffee, and tea, shared or private receptionist, and more.
Again, you want to make sure you are getting a great deal – and one that will help your business grow and thrive. Flexibility is key when it comes to the terms of your agreement.
Be Selective When It Comes to Location
You’ve heard it before. It’s all about location, location, location. A desirable business address enhances your business’s image and credibility. It can also make getting there easier for you and other stakeholders, as well as a more positive, pleasant experience overall. With this in mind:
- Is there public transit nearby? Major roadways/interstates that make access more convenient?
- Are there restaurants, shops, hotels, and other services nearby that will serve visitors, employees, and others?
- Is the office located in a business hub that can help you grow a profitable and sustainable company? Hire talent? Access lenders and investors?
- Does the location have prestige? Does it make your business look solid and established, trendy and hip, cutting edge, etc? What image do you want to project?
Consider Flexible Office Space
Conclusion: Tips for Renting Your First Office Space
Tying yourself to a long-term lease may not make sense financially and logistically for you. In this case, can you take advantage of all the benefits of an office without the huge investment? Renting private office space with a provider like Office Evolution allows you to stay flexible and make decisions that are geared toward moving your business forward on solid footing.