Searching for office space doesn’t have to be a daunting task, especially if you are looking for your first office. Other than your budget there are a few points that Loc8 consider to be ‘major’ factors that will require your consideration before you start your search and this will ultimately determine your search criteria. Loc8 understand that every company is different and only you will know in which order of importance these come.
How much space does the business need? It’s very important to remember that if you are going to be growing the company in terms of the number of employees over the first few years then you will need to make sure you have either, a) enough space to facilitate your planned growth or b) flexibility within your office agreement to take on more
space as and when it is required. A number of start-ups, SME’s and high growth businesses are taking full advantage of the flexible office market by only taking on additional office space when it is needed. Companies are making sure that the yearly budget is only being spent on office space that is physically being used and in turn allowing them to invest in other parts of the business. As well as having the flexibility within their contract to grow and subtract as required Serviced Offices provide businesses with the infrastructure they need to succeed without the need for a large outlay on capital expenditure. Throw in the networking and collaboration benefits of being in a multi tenanted building and it is no wonder that the flexible office market is growing at such a pace and showing how key they are to the sustainability and growth of start-ups, SME’s and high growth businesses.
Another thing to consider around the space element is the spec of the building and the office itself. Your office says a lot about your business and having the right kind of space can have a big impact on clients and potential employees who come to see you. If your business is client facing and you need to make an impression then it is likely you will require a higher grade of space than if you were running a back office admin team who aren’t client facing.
In most cities there are certain areas that are known for housing certain types of industries. For example Old Street or ‘Tech City’ as it is now known has a reputation for housing Tech companies just as Canary Wharf is known for housing banking and financial institutions. Research certain areas to see if you should/need to be in a specific area as your business may be able to benefit from the local networking and collaborative opportunities that the areas present.
Accessibility to the office is another important factor to consider, especially if you are looking to grow your headcount or have clients coming to see you. Making sure you are close to public transport will cut down on the journey times of both clients and employees and this will only add value to your business. If you are in an out of town location then you will want to make sure that you have adequate parking facilities on-site or close by for both employees and clients.
If you are looking for office space or want to discuss your options in more detail please don’t hesitate to give us a call or send us an email. We offer Free impartial advice covering the Serviced Office, Managed Office, Co-Working market in London and across the UK.