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Whether you are a newbie in choosing an office space or you are a seasoned vet, here are 10 tips we recommend you keep in mind when looking for that perfect space for your business.
1. Budget
Make sure you have a budget! Plan it so that it is strict, but you also have some wiggle room. Don’t choose an office that is going to put your business too far into debt and stunt its growth. Get your budget together before you even start looking so that you will be able to operate comfortably. Remember that “wiggle room” I mentioned? That is for the extra expenses that tend to sometimes come with renting an office space. Which can include utilities, phone, data, Wi-Fi etc. Make sure you understand what is included (and not) in the quoted rent and that it is made clear, and that it’s spelled out clearly in the Lease. Here at Executive Plaza your utilities are included in your monthly rent! Along with a few other things that we will get into later.
2. Location
When choosing your location, you want to make sure that the office will be convenient for your team, as well as your customers and clients, to get in and out of your office. Being close to things like public transport, parking, food and amenities, as well as green space, will make it all the better. Also keep in mind how close you will be to your competitors and partners. You want to position your business in proximity to your partners and competitors, without creating any additional competition. Executive Plaza is conveniently located on the corner of Lake Forest and Read Blvd. Within walking distance to us we have Joe Brown Park, New Orleans East Hospital, the library, and both the police and fire departments. We are also only ten minutes away from downtown!
3. Design
The design of the overall building is also something you should keep in mind when looking around. This along with the aesthetics within your workspace are important considerations because they will have an impact on your image and reputation in the market, from employees to customers and stakeholders. You also need to think about functionality as well as visual appeal. It is a place of business, but it’s also where employees will spend much of their week, so it needs to be comfortable while still presenting a professional image to visitors. Think about if you would want to start with a blank canvas and design your own space or find a fully fitted out office that you can move into quickly. Here at Executive Plaza we have office spaces that can fit your vision. With amazing views from your office, and your choice of paint color, and freedom to decorate how you see fit, possibilities are endless!
4. Amenities
From shared meeting spaces to cafes, outdoor space, public Wi-Fi, concierge services, security etc. amenities are things you need to keep in consideration. Without a doubt, having access to all these services and facilities right in the building makes the workday much smoother for your team. Having access to these facilities can save you money by reducing the amount of space you need in your own office. At Executive Plaza, 24-hour surveillance, security during normal business hours, 24-hour access for tenants and 3 days a week janitorial services are included in your monthly rent!
5. Lease
Now you have figured all of this out and you have found your perfect office space. Here comes the paperwork. Nobody really enjoys doing it, but it is extremely important. You need to make sure that everything is clearly spelled out in the lease. You don’t want to just take your landlord’s word on anything, make sure it is all written out. Decide on whether you want to do a short term or long-term lease. For your first office, you might not want to get tied into a really long-term commitment. You don’t want to be stuck with an office space if your business folds, sells or outgrows the space. At Executive Plaza we only require you to have a minimum one year lease then you can decide whether you want to renew or leave.
6. Changes/ Repairs
Repairs for your space can be a big expense. If the landlord is responsible for those expenses, make sure they are willing to take care of them in a timely manner. But if you are, make sure there’s some wiggle room into your budget. Offices don’t always come as advertised. You must ask the right questions if you want to know what the space will look like if you decide to rent it. Do you require improvements like paint and carpet, or do you need walls and doors moved or added? Who will pay for these improvements? So, before you sign anything, see what you’re allowed to do to the space without them charging you for damages. When you sign a lease with us here at Executive Plaza, unless otherwise stated that you will have to complete the repairs yourself, our team will make sure that your suite is move in ready!
7. Parking
Parking is an important factor that might be overlooked when renting your first office space. You need to make sure there are enough parking spaces nearby so that your team can get to work on time without much hassle. Or if you’re in an area where there are more bikers, make sure there’s a rack or enough space somewhere in the building for employees to store their bikes. A secure parking lot or dedicated area is a plus. Aside from the onsite parking, consider access to nearby parking for clients, visitors and employees. Executive Plaza offers ample parking in the front, rear, and side of the building.
8. Room to Grow
Flexibility is key, so look for a space where you could potentially expand, or go for a shorter lease or one that will allow you to exit should you need to. And while it can be difficult to know exactly how much room your business may need over time, looking for an office that has room to grow with your business is critical. A bit of extra space can be a good thing, especially if you plan to grow within the length of your lease.
9. Office Layout
Like it or not, your office sends a message to others about your business. Do you want an open concept or more closed-off workspaces? Different bosses and teams have different preferences. So, think about what style would suit your team best and choose an office that lends itself to your preferred layout.
10. Make sure you are CONFIDENT
Take your time in choosing the right office for your business. It’s a big decision and one that will impact almost every aspect of your business, from staff to clients to productivity. Don’t feel rushed or pressured, and make sure you’ve done your homework to identify the services and facilities your business needs. For that reason, you really must think about where you see your business at the end of whatever lease period you choose. If it’s a five-year lease, where do you see your business in five years? And do you have an actual plan to get there? Making the wrong choice can have an impact on your ability to attract and retain the right staff. It could even cost you clients or business opportunities. So do your homework and take your time.