There comes a time in every startup’s journey when it outgrows its first, small office space and needs another. Startups tend to begin their story in bedrooms, garages, attics and basements. But, eventually, they outgrow these make-do spaces and have to move on. Some of the factors you need to consider are so important, we’ve put together a list of the ones you need to pay attention to before making this big decision.
This is obviously the most important consideration you’ll have to make. The amount of money you’ll have to pay to rent your office space will likely be one of your biggest expenses. It’s important that you calculate exactly how much you can afford to spend each month. You’ll have to continue paying this expense even when times are lean, so it’s essential you’ll always have this money.
This is important to keep in mind because if you have staff, they’ll likely have become used to working in a specific location. It might make sense to move to a cheaper area, but if it means every staff member will have to travel for many hours and have no access to public transport, i just doesn’t make sense. In the same way, if you rely on passing foot traffic, being accessible to the public is important.
It’s important to think about the type of environment and company culture you envision for your company. Do you want everyone to work in one large, open space? Do you want individual cubicles? Do you want a mixture of the two? It’s important that you consider this before you make the move as it will have an impact on the atmosphere and productivity of the office.
Every business has different security needs and it is important to think about these before you make decisions about your next office space. Think about how many people will have access to the building and if it’s important for the public to have access. If the latter is true, you’ll need to have enhanced security in place. You’ll have to think carefully about the need for security officers, alarms, bollards and turnstiles.
Potential for growth
If your business has already grown enough to need more office space, it should be clear that you’re on a path for increased growth in the future. Therefore, you’ll need to choose new office space with the understanding that you’ll need more space. It doesn’t make sense to find something just big enough for your current needs. Rather, choose an office which has the space for your team to grow over the next year.