Growing startups are meant to be lean growth machines, which can prove some different circumstances when faced with office space. Startups should avoid long leases, as well create a more suitable environment for their needs to inhibit growth and success for a small but growing business.
Timeline for Growing Startups
It can be tough to determine or see beforehand how long exactly it will take to find the perfect office, especially for a startup. It’s never an easy feat to find your office space for your startup within 30 days, but still possible in some circumstances.
Your best chances at finding the perfect space is to plan ahead, however, planning isn’t always an option. Keep all of these tips in mind for finding an office space, most specifically when you’re tight on time and planning leeway.
If you are indeed short on time, you can look at private offices at coworking spaces for your startup team. These are generally smaller offices that are private to you, and on a month-to-month subscription style payment plan, so you can cancel when you want. This can be great for a temporary smaller space that still allows you the flexibility of having your own office and gives you freedom to move into larger spaces as your business and team grow larger.
You’ll also need to account for the space factor in your team’s health and wellbeing throughout an office day.
Identify Deal Breakers
Take a look into your business, team and other structures to identify exactly what you need from an office. Write them down and research the needs, find alternatives, discover pain points for each factor, and consider them in your search. You’ll want to know and have research all of your identified pain points before you even set off on the search for office space. All important for growing startups looking for that perfect space.
There’s one thing every entrepreneur should know is true, especially when finding an office space. Negotiate everything, even rent. Rent isn’t always the actual price that is listed. You can generally negotiate 10 percent, even sometimes a 20 percent decrease off the price of the office listing.
You can also try asking for a free month if you are signing a one year lease, or even two months free if you are going with a two-year lease. However, keep in mind your growth signals in your company, if you need to downsize or (hopefully) upsize, that lease won’t do you any favors.