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Congratulations! Your startup has grown and reached the point for you to now need an official office! You have enough predictability and a stable income for finding office space that fits your requirements.
Finding office space for a new startup is both exhilarating and overwhelming. You have the right to be proud of your expansion, and its also completely normal to feel a bit stressed with all the options.
The problem is, how can you find the right office that fits the needs of both you, your employees, and the next stage of your business growth?
Thankfully, we’ve constructed this article to give you those exact answers! Keep on reading to learn everything there is to know about finding office space that will help your business to grow, and not sink down the financial hole.
Let’s get started
1. Think Creatively
When most people visualize an office space, they think of the typical setting with white walls, desks, chairs, and cubicles.
However, this does not have to be the case! When finding office space, consider investing in a warehouse space, or even a heritage home.
You do not have to take the first price seriously when finding office space. Instead, play some hardball and aggressively negotiate the price. The worse that could happen is hearing the words “no.” Learn more first about negotiation for office space before you decide to go that route.
3. Know the Jargon
There are a lot of terms used in the commercial real estate world, knowing these terms will help you during negotiations.
Some of the terms used are:
- Shell space
- HVAC systems
- TIs, build-outs
- Personal guarantee
Get comfortable using these terms in a sentence when finding office space, the more you look like you know what you are doing, the less you will be bossed around.
4. Know the Size Needed
Do some research ahead of time and find out how much square footage is needed to host the business of your size. Consider a bit of extra room for when your company expands.
5. Consider Company Culture
An essential question to ask yourself while finding the right office space is if the potential space aligns with your company culture. If the space isn’t right, it could affect the overall “tone” that you are going for in your company.
Consider waiting it out until you find the right space so you do not have to keep moving. You can also consider using a co-working space until you find the right office.
6. Use the Right Agent
You are being particular about finding the right office space, so why not be particular about using the right commercial realtor too? Take your time to interview multiple realtors until you find the right one for your company.
7. Interview the Landlord
Aside from having the right agent, you also need to make sure you are not getting stuck with a landlord that makes your office life feel terrible. Interview the landlord before signing the papers to make sure they are also a good fit for you.
Learn More About Finding Office Space
There you have it! The best guide to finding office space for the next phase of growth for your business!
If you found this article helpful, check out more like this under the commercial real estate section of our blog!