So you’ve signed your contracts, got your money, started developing your idea, and you’re looking for potential recruits. The next logical step in your business plan would be to start looking for a business office to rent. After all, all that equipment you’re going to buy and the employees you’re going to hire need a place to stay, right?
A lot of startups like to use their own home as their office, but it lacks professionalism and unless you’re a content creator that wants to focus on blogging or YouTube, you’re going to need a dedicated office to impress your business clients, investors and partners. But renting an office is no easier than picking a home or apartment to live in. There’s a lot of research involved, lots of choices, and those choices can make a very large impact on how you operate your business. Here are four different things to look out for when you invest in renting a business office.
- Location is key
It might not seem as important as if you had a commercial business to run, but the location is very important even for an office building. This is because you want to have relevant local services nearby such as tech companies and computer repairs in case something goes wrong at your office. You also want to be near a recruitment hotspot, such as being close to universities and colleges so you can pick up new graduates as they leave school to bolster your workforce.
- Evaluate the building
Many businesses fail to check the building they rent and trust in the advertising. There could be hundreds of things that are wrong with the building or unit that you plan to rent. Does the unit have a fast enough internet connection for your use? Does the building share internet or does each unit get their own line? Do you need to install more leased lines? Does the air conditioning unit need to have its air con hose fittings replaced? Do all of the lights work? These are all important when it comes to evaluating an office for what it’s worth so you can plan ahead for future building works that need to be done.
- Too much space is bad
Determine how much space you are going to need to get your business started, but don’t get complacent and plan ahead for expansion before you even make your first sale. Try and imagine the layout required by your business and if the office you want to rent doesn’t suit it, then consider a different location or ask the landlord if you’re allowed to make renovations to the existing space.
- Read the lease
It is very important that you understand every word of the lease. It’s a binding contract that can be enforced by the law, so always check for extra hidden costs or expenses that your landlord hasn’t explicitly told you about. When in doubt, question your landlord and ask them about each clause that you aren’t familiar with.