Looking For an Office Space for Your Start-Up? Here Are the Tips
A new space for your newly born business is a big task and some due points are important to consider for that. Take a look what should come in your notice on this subject.John Thomson
Wow! Finally, the dream has come true and you succeeded to bring your own start-up on the actual ground. Now the first need is to find a shelter for your infant business. Means a place where you can make things look more professional. This calls for an uncompromised attention on the type and quality of the office space you are looking for.
Here are some tips that can give you the due direction to ease the search of a good place for your start-up.
Decide what is your need
Buying an office is not a daily routine thing; it includes a big investment and final decision demands utmost care. It is necessary to stay clear about your actual needs. Pay special heed to space and the thumb rule in this concern says, an area of about 1,000 square feet is perfect for 4 to 6 employees. However, it is on your own need as, if this number of employees is not your plan then it is fine to deduct some square feet.
Also take a stand on whether you want to take a place on rent or you want to buy it. Location too is a big concern. Where do you want to get settled? In the heart of the city, outer area or in your own locality? Decide it right now as commercial properties or in fact any property, responds drastically different according to the difference of the location. You can understand, how important is this aspect and how better this part needs to be treated.
Match your need with the budget
Once the first part of priority is final; it is time to check your pockets, bank balance (business) and everything that can add to your funds. Here is the need of a calculative mind and also a patient attitude. Oh yes, remember the ‘buy or rent’ thing? To get a place on rent, you have to work differently on finances and to buy it, your limits on funds act differently.
Do not do the mistake of getting driven by the short-term desires. For instance – your budget may not allow for a lavish office space but your newly blossomed confidence on having your own business made you take a wrong turn. You take an expensive space, which later acts cunning on your finances. Stay calm, patient and rational. Never forget your financial limits and cut your dress according to the cloth.
Consider Co-working space if your plans are –
· To move to a new location after some time OR
· The budget is limited
The whole world is doing this and going quite well in their work. In case your situation belongs to above two points, a co-working space can be a perfect decision. Most of the start-ups are doing the same and in fact sitting with them will bring you the opportunity to sit with the like-minded people. You can share your ideas and exchange enhancing experiences. The best part about this decision is of course the cost part, which is sure to remain in your control. There are certain things that come complimentary with the space such as printer, table chair, tea and coffee thing.
Different places can serve you different benefits, explore them, compare them and take a FINAL decision. By the way, the need to borrow funds may arise and in that case, you also need to decide the loan amount. For start-ups, the loan market has some idol figures to lend. In fact they do this beyond credit score status, if you have a bad credit you can avail funds and that too without any obligation. For instance – the £5000 loan for bad credit with no guarantor is not a new term for the businesses in their infancy.
If on rent, make sure experience with landlord is not awful
Bad landlords are good enemies of your business growth. For sure, you know that, right? They have enough courage to spoil your future plans. To play safe on this part, talk to the other tenants in the place. Try to know the other side of the coin, nothing is better than the reviews. Are they happy or do they have any concerns. If ‘yes’ to the latter then listen to their concerns with concentration and try to relate them with yours.
Is this something that can affect your business too or may be the thing they are talking about are not much big. It is true that few things are actually avoidable and you should always be ready to judge without getting judgemental.
To give a positive start to your start-up business, a good space is necessary. To ensure a smart selection of that necessary space, it is important to take care of the few things. The tips above can make you aware of the important aspects on this matter.