Whether this is your first startup or your tenth, the process of finding a small office space for rent can be a difficult one.
This is where you and your team are going to spend a substantial amount of time brainstorming, bonding, and collaborating, so the space needs to tick a lot of boxes. Therefore, it’s important to consider what you need and what options are available.
So where do you start? Put together a plan and decide what’s most important to your business. We’ve compiled a checklist to consider when looking for a small office space for rent.
1. How much can I afford?
If you’re running a startup, your budget should be one of the biggest factors you need to consider when choosing an office to rent. You want to create the best working environment possible that will motivate yourself and your team each time you step in the door, without burning a hole in your wallet each month. Carefully calculate what you can realistically afford from the get-go. This will ease a lot of the pressures that come with running a business.
2. Location, location, location
Where do you need to be? This is important for several reasons and ties in with the other points within this article. Traditionally certain types of businesses need to be in specific areas. They need to be near both clients and within easy access to the services they might need. However, where your office is located is also important because it helps establish the right image for your business. An office in the heart of the CBD portrays a very different image to one in an industrial park.
Finally, the location should be easily accessible for you and your team. Hard-to-reach locations can be a turn-off for employees, especially the ones who don’t own their own vehicles. Choose somewhere that is centrally located and near to good transport connections – you’ll thank yourself in the long run.
Most startups will lease an office space as opposed to buying one. As such, there are several factors to consider. The first being, what type of lease best suits their circumstances? Traditional office spaces tend to have fixed-term leases. If you decide to go down this route, then you’ll really need to have a good idea as to how long you require the space before it no longer fits your needs.
If you choose an office for rent at a coworking space, then you’re likely to have a lot more flexibility. They tend to allow flexible rental arrangements, so you’re not locked in for a long period and able to grow your space when the time’s right. The best providers will grow with you, allowing you the flexibility to scale as you grow.
Your office space will be integral in determining your company's image.
4. How much space do I really need?
This depends on many aspects including how many employees you have, what type of business you’re in, and what type of environment you want to create. What are your growth plans and expectations? There’s no point in getting a space for five people if you’re planning on hiring another eight more after a couple of months. Mapping out your HR needs ahead of time can save a lot of logistical issues later on.
Once you’ve figured that out, it’s time to decide on a layout. There are many different ones to consider when choosing an office space. Some like to go with a fully open plan, while others prefer a mixture of enclosed office spaces and cubicles. It’s really down to personal preference, although some have a bigger propensity to improve productivity. You’re also going to want to consider additional spaces such as kitchen and break rooms, reception areas, storage, printing facilities, and meeting rooms.
5. Making an impression
Your office might set the right mood for your team, but will it also do the same for your clients? This can be very important depending on the industry that you’re in. If you work in finance, then you may want to set a formal mood for your team and your visitors. Whereas those in the e-commerce or marketing industry might want an environment that’s more artsy and laid-back.
This can be achieved in a few different ways, which should be considered when looking for an office space for your startup. First, pay attention to its interior design. And we don’t just mean the layout. You’re going to want to pay close attention to the theme of the office, either what’s already there or what you think you can turn it into. Is the quality and style of the fixture and fittings what you need? Walk through the front door, go into the meeting room, and even the bathroom facilities, and imagine how you would feel walking in there for the first time as a client.
If the office is a flexible office space provider such as a coworking space or some type of serviced office, does it have a reception? If so, how were you greeted? It’s important to ensure that you achieve the mood and experience that you need from the moment you enter the office.
Finally, who are the other tenants in the space? This is important whether it’s a private space or a flexible office space. Will the other tenants add value to your business and experience in the office space? They might be a source for networking, but does being in the same building as them enhance your image? This is very important to consider as a startup.
Flexible office space providers help startups reduce their CAPEX costs drastically, with facilities such as meeting rooms and turnkey offices.
6. What services and facilities do I need?
The type of business you’re operating will determine the facilities you require. For many startups, minimising upfront costs is extremely important. A traditional office will require you to provide your own facilities, from the furniture to the office. You’re likely to have everything provided to you in a coworking space. This can include printing facilities, reception and mail services, and meeting rooms with the latest IT equipment. Everything to enable your business to run as efficiently as possible without the added burden of costly upfront expenditure. Be sure, however, to check for additional charges if you’re using any services or facilities.
7. Choosing the right office provider
As a startup, it’s likely that a flexible office space provider such as a coworking space will give you the most bang for your buck. With many options out there, it’s important to choose the one that best suits your needs as the services and facilities can vary greatly. Of course, many offer options like hot-desking and small private offices, but that’s where a lot of the similarities end. The quality of the offering, its location, and the costs are all important factors to take into account.
Flexible office space providers help startups reduce their CAPEX costs drastically, with facilities such as meeting rooms and turnkey offices. You only need to move in. With shorter flexible leasing terms, they can provide you with a solid base to build your business from.
Come check out our flexible office and coworking spaces through the links below and get your startup on the right track for success today.
Kuala Lumpur: https://www.arccspaces.com/my-en/locations/kuala-lumpur/
Hong Kong: https://www.arccspaces.com/locations/hong-kong/