Nothing is more thrilling than renting an office space for your new business. An office space brings opportunities to bring awareness to your brand. It also makes your business legitimate and increases team productivity. Still, you first need to decide if you need office space or if you will be better off with a virtual office in Calgary. So, before you do rent physical office space, we recommend considering the following:
How Much Space Do You Need?
Your space requirement can vary depending on your business and your geographic location. For example, if you are a startup or first-time entrepreneur, you might benefit more from using a smaller private office or coworking space.
Also, take the number of people working with you as a team and look at your growth projection. Then consider how many square feet of space you need for each person. Lastly, consider the work environment that will help your team thrive.
Another crucial thing is how much you expect your business to grow during your lease.
What Amenities Are Included In The Lease?
Renting office space requires considering the amenities included in the cost. You want to provide your team with fully functional modern amenities to make a difference in their work. These include a fully furnished workspace with on-site management, fiber internet, on-demand conference rooms, printers/copiers/scanners, mail service, and more.
Once you narrow down your selection of office spaces, you need to compare the office layouts as you can find different types available. For example, you may only need an office space a few times a week, or you can find office suites that work well for growing teams to customize according to your needs.
Alternatively, consider using a virtual office space with a Calgary Business Centre that is useful for working remotely with a professional business address and a place to collect your mail for deliveries.
Look at Your Neighboring Area
As important as choosing your office location, the neighboring area also needs to be ideal. You need easy access to public transportation and more. Other essential factors are nearby coffee shops and restaurants. Still, if you consider a coworking space, you may find it has an available cafeteria, recreational room, conference room, and more.
Consider Your Budget And Avoid Legal Pitfalls
The most important thing is to look at your budget, as you need to invest a lot in your company for it to move forward. So, it helps to have a financial plan looking at the broader picture from monthly leases, amenities, taxes, and more you need to pay.
Another important thing is to consider your lease terms carefully. Always pay attention to the lease length, when it will begin and if renewal options are available. Also, see if the lease includes property taxes, insurance, and maintenance costs.
Does your lease ask for a security deposit, and what conditions do you need to do to get a return? Go through your lease agreement carefully, as having a flexible term is essential if you need to get out of the lease.
As important as having a physical office space to bring awareness to your brand. It only helps to rent a single office space if you can afford it. So always keep your budget in mind, and at first, if you cannot afford a private office space, you always have the option of renting a coworking or a virtual office space until your business expands.