There are many things to consider when looking to rent a new office space: does it have everything we need? How much space do I need? Can we afford this? At North Notts Business Centre we know what it can be like for a new business or a business looking to expand. We have had the opportunity for some great companies to move into our facilities. We have put together this blog to help give those looking for a new space some great insight into what they need to consider.
In our eyes when you are looking for a new office space to rent, there are three important things to take into consideration.
Your business has requirements and so do your clients. Your business needs might include parking or access to mass transit for your staff and many other options. Clients might expect you to have a professional reception area or amenities for tea and coffee.
How much money will you need for expenses like the internet, tech tools, staff, and office supplies? – things can add up quickly! Think carefully about what these will cost and also take into account slow periods for your business and worst-case scenarios. Compare your income to expenses and you’ll have a good idea of how much office space your startup business can afford.
If your business is just beginning to grow, a small space now might be a better fit for your business and your staff. On the other hand, if your startup is growing by leaps and bounds, leasing more office space than you currently need and subleasing the extra space on a short-term lease could be a good idea. This way you’ll have office space in place as your business grows over the next couple of years.
Other Factors Worth Your Consideration
The type of extra resources and amenities they need
Room to grow:
Think bigger picture amenities, ones that you and your team can grow into. Do you need conference rooms? Do you need access to printing, copying, scanning, and other office technologies? Do you need dedicated parking for themselves, employees, and/or clients? Having a full picture of these needs will help you find the office space that is best suited for them. Determining the full scope of needs is an important first step in order to effectively sort through all the options.
You should consider both your short and long-term needs, as best you can. It can be difficult for early-stage companies to forecast out beyond 1-2 years, but you will need to do your best to consider whether the spaces you are considering would accommodate your needs for one year, two years, five years. We always recommend reaching out and asking these questions early on.
Prior to getting a dedicated office space, you should consider the type of environment in which you and your team work best and the type of community you’re interested in being part of. You may find the idea of being in a collaborative, shared work environment with other energizing individuals a great idea, while others may find the same setting distracting. We always recommend that you should consider you and your team’s personal work style, your interest/need to connect with others, and other personal preferences before committing to a space.
Resources for Finding the Right Office Space
Finding the right office space for your startup means striking the perfect balance between what your budget allows and space that allows your staff to do their best work possible and help your business grow. You don’t want to end up losing valuable talent or clients because you’re trying to save a little extra each month. On the other hand, there’s a point of diminishing returns where paying extra for amenities, like pet sitting services or nap rooms, doesn’t increase your revenues.
We always recommend researching your options and finding out what is best for you and your company. If you have any questions about office space and renting office space please contact us today. We have many years of experience and are happy to help new and existing businesses.
The North Notts Business Centre
If you are interested in renting an office space in the Mansfield area please consider the North Notts Business Centre. At the North Notts Business centre, we have more to offer than just an office space to rent. Our facility as a whole is top-notch, we have everything you could possibly want from a Hubspot of creativity and hard work. Other businesses who have worked in the North Notts Business centre over the years have built a vibrant working community in which other businesses have collaborated. We hope you found this blog useful if you have any questions about office space to rent. Please contact the North Notts Business Centre today.