Having your first office space to call home can be a glorious moment. For the first time, you can feel in control of your destiny, especially when you have just recently been working from your basement at home.
Although the extra expenses may seem daunting at first, working from your own rented office space should give you the drive to push for profitability as well as the option to hire more hands for your business.
However, before you recklessly dive into the pool of available offices out there, it’s crucial to understand your needs as a first-timer.
Dedicated or Shared Space
If you’re working alone or as a unit, and you discover that working in isolation inhibits your drive and work inspiration, then you should consider making use of shared workspaces.
These are spaces that are already outfitted for instant work with business facilities such as Wi-Fi, office chairs, and desks. Having a dedicated office will take more time as well as resources, as you’ll need to buy office equipment such as a Xerox machine, furniture and other trappings of an office.
The Right Location
The right location is not always the most expensive one. It’s usually the right one for your budget. It’s a fact of life that renting in the city center can be costly, especially as a first-timer.
Let us assume you’re going for an office space for rent Houston. You would discover that it’s way more expensive in the Downtown Area compared to other parts of the city.
As a newbie, this could drain your financial resources, which could be better invested in your business. It’s wiser to choose an affordable location so you can spend on other areas.
Knowing What You Need
The excitement of renting your first office space can overwhelm you, pushing you into making bad choices. This assuredly can lead to your financial ruin in the long-term. It’s important to know what you need so as to not go over the top when renting your first space.
When searching for office space, there are two types of spaces to consider; Class A and Class B.
Class A office spaces are ultra-modern with full-option amenities at your fingertips. Class B spaces may not have the features of Class A, but what you may forgo in facilities, you get with the price. The best value as a first-timer is to look for a Class B office space that is rented by a reputable landlord.
Office spaces are usually determined by how much competition there is in the market for the available space. Typical office spaces for rent in Houston go for around $29 per square foot, with Northwest Houston going for $23 and Downtown available at $35.
Bigger is not always costly, and a small office in the latter can set you back financially more than the former. If you really need to sacrifice space to be in the center of the city, then you can consider letting your staff work remotely.
In conclusion, there is no standard rule for what is applicable when choosing your first office space. For all we know, you could be a high roller with lots of cash to throw around. However, should you choose to manage your expenses, these tips will come in handy.