A lot of small business owners panic about where to launch their business.
Working from home comes with many benefits, especially if you’re a freelancer or a new business owner trying to save money.
However, once your new business has grown to the point of having 3+ employers, or maybe even 2+, you will probably need to consider buying office space.
This can be a daunting thought. However, taking it one step at a time can make it much more achievable.
First things you need to consider are:
• Office Location
• Office Size
• Budget
Once you have these three elements in mind, you can start to view potential offices.
Office Location
The Successful Northern Business Panel held by instantprint, involved a discussion around office location with successful business owners.
Below is some advice taken from the business panel around office location:
James Kinsella, co-founder of instantprint: ‘‘Picking a location is entirely dependent on what a businesses’ value proposition is and what factors are going to be key to help it compete in the market. For example, if you are starting a design agency, recruiting the best talent may be critical so location should be chosen for this reason – such as a city centre with a large talent pool.’’
Matt Russell, co-founder of Music Vine: ‘‘For those desperate to find an office, consider if you really need an office. If it is vital to your business then yes go for it, if not then why not save that money and put it to better use. If you don’t have an environment that’s suitable to work in, then hot desking is a low-cost solution that offers great flexibility and can be a brilliant way to network.’’
Therefore, when picking your office location, consider where your potential new employees may be and if you need to pay more money for city centre or if you can afford to go somewhere a little more off the beaten track.
Office Size
Office size can be tricky, especially as an office can quickly look bigger without all the furniture inside. Bear in mind the amount of furniture you will have in your office, along with desks, cabinets, draws and space for people to eat lunch etc.
This also depends on how many employees you have and how much space people need to do their job. Do you need space to brainstorm? Space to make a video? Space for a lot of files?
You also need to consider the layout of your office space as well as the space. Such as, if you’re a technology or creative company, you may more than likely want an open space, as it’s better for collaboration.
On the other hand, if you’re setting up a new law film you may want something more office focused so you can discuss sensitive matters behind closed doors.
Budget
The budget is always the hardest part to decide on, especially if you’re a new company. However, try to not think of it as how much you’re willing to spend ‘per head’, but rather how much you can afford monthly. Things like furniture, utilities and other office fees will really add up at the beginning, so it’s better to go for something you’re you can afford than going all out there on something you may be able to afford.
Remember, you can make any space look great with décor, plants and a splash of paint. Concentrate more on ensuring you can afford to stay in the office space and then you look to go somewhere bigger.