One of the many challenges involved in setting and running small businesses is finding the right sized premises. This is usually the case when your home-based business becomes successful to the point that you feel that the home is not big enough and more office space is needed.
Finding the right premises is such a major issue for the home-based businesses, small and mid-sized companies. It is a decision that each business takes into consideration from time to time because it has an effect on the business in the short and long term.
It is quite tedious searching for space for lease as well as time consuming especially for those who are new for you will find it overwhelming as to how many things you are going to need for your business.
In as much as location is a key area of focus, you have to seriously think about the amount of space you will be needing for your business. To make a good decision on the correct amount of rentable square feet, put the following into consideration;
- Private or Shared Office Space
Deciding on what type of office space will be best for your business is important. This helps in getting to know how much space you will need. Shared office space helps to limit the total amount of office space particularly if you share amenities such as the reception area or conference room with other companies. You need to know whether you would like all the private offices to be of similar sizes. Choosing the right space will ensure you get an office your business needs for a price it can afford.
- Type of business
The type of industry that your business is under tells a lot about the amount of square footage you will need when leasing space. Some businesses have specific minimum amount of space for it to operate smoothly. You should pay attention to industry standards to determine the space necessary for your case.
- Number of employees
You may not need a very large office when you are a small company with few employees. On the other hand, if your company has over a hundred employees, the square footage that you may need will be much larger.
- Office equipment
You will need to consider the printers, fax machines, desktops and cabinets among other office equipment that your business uses. You should have ample space for these items.
The demand for office space has been experiencing rapid growth. Flexible office space provides larger businesses to be able to downsize their office space and enable small businesses to grow into bigger space when needed. The option of expanding or downsizing an office is the best solution for renting space that meets current requirements for your business.
The flexible office space provides many advantages as it shifts away from the traditional office space that tends to limit options. With the flexible office space, you pay for space that you need without incurring the extra expense of paying for space that you may need in the future. By saving on the space you don’t use, you get to channel the money to developing your business instead.