As you grow your business, you may find that you need more office space. This is especially true if you decide to scaling your coworking space or add new services.
Shared work space can be a particularly tricky area for startups because it can be extremely expensive, but there are ways to make sure that every dollar spent on rent is worth it.
I’ll walk through some key steps for finding the right office space for your growing business:
Guide to your Office build-out or renovation
Steps to surviving your Office renovation:
- Office space is expensive, but costs can be minimized by looking for a space that’s affordable and in demand with local businesses.
- Check out commercial real estate listings for the area where your business will be located.
- and find out what other companies are renting office space from landlords in your area.
- If possible, negotiate a lease that allows you to use part of the building without having to pay for its entire cost upfront—this will allow more flexibility with when and how much money you need to pay each month.
- Is it easy enough for clients and employees to get there?
- Are there good routes into town?
- What about parking?
- The easier it is for people who have never been there before (or even those who have) to get around in your new location.
When Is It Time to Scale Up?
When it comes to scaling up, there are a few different reasons why you might need more space. You may be growing faster than expected, adding on employees or partners, or expanding your product or service offerings.
Although it’s never too early to start thinking about how you’ll grow your business and how much space will be needed in order to accommodate the growth, it’s usually best not to make major changes until the company reaches a certain point of maturity. This means that if you’re still making minor adjustments with equipment and staff before making a larger investment in office space, then stay put for now!
If you want to scale your business, consider co-working spaces. Co-working spaces are small offices that rent out space at low rates.
They often have shared resources like printers, copiers, and even conference rooms for hire (that some may be able to reserve for private meetings). Some provide perks like snacks and coffee in the morning or beer at happy hour.
Co-working spaces are an affordable option for entrepreneurs who are just starting out as well as those with more established businesses looking for a change in scenery. In addition to being an affordable option, co-working spaces can help you meet other like-minded people who might be potential partners or collaborators.
Virtual Office Spaces
Virtual office spaces are a great option for startups, as they can be used to establish your business’s credibility when you’re just starting out.
Virtual office spaces allow you to have a physical presence even if you don’t have an actual office yet. You can rent them on a day-by-day or week-by-week basis, which makes it easy to scale up when needed.
With this in mind, the takeaway can be “To summarize, it’s important to consider how you’ll scale your business as it grows. Office space is especially important when you’re trying to grow your team and manage an office environment.”
Of course, there are many other ways to scale your business. If you’re ready to take your company from small to large, we hope this guide has given you some helpful insights into how you can make it happen. We wish you the best of luck on your journey!