The new rules of choosing an office space for your business
Moving to a new space in 2017? Why you should consider the location, flexibility of the lease, and internet speeds in your search
Entrepreneurs often make use of their homes or a local coffee shop as their first office space. However, a company growth spurt or an increase in demand for their product or service can see the business need to move to a more professional arrangement.
Finding a workspace that leads to productivity is crucial for entrepreneurs and small businesses, but that the process can be very difficult with many founders unaware of what to look for, says Greg Beadle, founder of The Bureaux, a flexible workspace provider based in Cape Town.
However the process can be made much less risky if entrepreneurs take some practical considerations including the location of space and the flexibility of the lease to the speed of the internet.
Here are Beadle's steps to take to narrow the search.
1. How fast is the internet?
"Internet [access] is probably the single most important aspect of running a successful operation these days,” says Beadle. "Check whether the upload and download speeds are the same and if the internet is fibre-based. You may have to work after hours, or if your business runs around the clock over different time zones, you need to be sure you can count on reliable and fast internet 24 hours a day not only from 08:00 to 17:00. Confirm what contingency plans are in place should the primary internet service not work and ask existing tenants for their opinion on how reliable the internet is."
2. Where is the office located?
"Everyone needs to take a break from work to refuel and rehydrate, so location and surrounding amenities like restaurants, gyms and coffee shops are important. However, it’s not only about how close you are to your next caffeine fix, but also if the workspace puts you conveniently close to your key stakeholders making meetings easy to arrange," says Beadle. "When considering location, keep in mind the commute for all employees when travelling to work and whether parking and public transport options are convenient."
See also: How to be productive in any office setup
3. How long is the lease and are they flexible with these terms?
“For a new start-up business or a consultant taking on project contracts, flexibility is very important. Having the option to easily upsize or downsize according to your needs helps a lot because you may not want desk space for five team members until March next year,” says Beadle. “Our maxim is that tenants should stay as long as they want to, not as long as they have to so find out what the minimum notice period is to cancel your lease. A three-year fixed contract rental is something that should be avoided, especially if you want to keep a tight hold on your business expenses and can’t forecast budgets too far into the future.”
4. What is not included in my rental?
"If renting a boardroom comes at an additional cost, you’ll never be able to follow an annual budget for expenses for this line item. Don’t be shy to ask if usage of a communal kitchen is billed in addition to the rental fee; even this can become a premium add-on. Sometimes the superior high-speed internet is offered at an additional fee, so do be aware of these extras that you may not expect and look for all-inclusive options that suit your needs," advises Beadle.
5. Is the workspace available 24/7 and can I leave my personal belongings on my desk?
"Safety is undeniably important," says Beadle. "It’s important to check whether 24-hour security is provided. Should you have to work late, you want to feel comfortable doing so. Find out from current tenants if there have been any breaches of security and be sure to check that you don’t have to lock your laptop away every time you leave."
Hot desks are to be avoided because service providers tend to 'oversell' this option. Beadle explains, "If you rent a hot desk, you have to pack up and take home your personal belongings every day, not knowing where you’ll sit the next day. On busy days you may not even find an open desk. Ideally, you want your own safe space where you can leave your laptop and files, knowing you’ll find them there when you return the next day."
6. What comes as a value add when you rent office space here?
"Enquire about reception services; this is very useful if you want to maintain a professional appearance with clients. Having dedicated receptionists to receive couriered post or forward calls helps you to focus on the important work you need to do," shares Beadle.
7. Can I use workspace at your affiliated locations?
"You may want to meet or work in a different part of town from time to time; it’s important to find out what affiliated locations are available with your rental contract. Know what you can expect at other locations that could make your work life even easier."