5 Tips to Determine the Best Type of Office Space For Your Business

Figuring out the best type of office space for your business is an important consideration. Whether you’re looking to move your business out of your basement or simply upgrading or downsizing your existing office space there are a few important things that you should consider.

 1. Office Size

Getting an accurate idea of how much space you actually need for your business is an important first step. Space that is too large can leave you paying for unused space in rent as well as utilities, which will add up over the long haul. Choosing a space that is too small, however will leave your employees feeling cramped and frustrated and may project a sense of incompetence to your clients.

Choosing the right size can be a bit daunting especially when you’re not sure how much your business will grow during the terms of the lease. A virtual office can be a great option for those just starting out or those who aren’t sure just how much their business will grow over the next few years.

 2. Office Location

Location is a huge consideration. Your business’ address can be the difference between a client deciding to go with your company or choosing the guy up the street whose address is in the more prestigious part of town. Having a residential address can be a problem as well, since anyone familiar with the area will automatically be aware that you’re an at-home business causing you to seem less competent and less professional.

However, office space in the prestigious part of town can come at a hefty price tag. If you’re not in a position to spend the money it takes to make sure your business is located in a good area then a virtual office may be an excellent option. With the ability to have a prestigious business address at a fraction of the price, virtual offices are a popular option among small business owners and entrepreneurs.

 3. Price of Office Space

Price is an important consideration for any business owner as well. It’s important to determine just how much you can afford while still obtaining the type of space that your business actually needs. If you short-change your company it may end up costing you in lost productivity. On the flip side, however, if you go way over budget it will negatively impact your bottom line.

 4. Office Space Versatility

Versatility is a major priority especially if your business is just starting out. It can be difficult to accurately predict just how much space you will need and for how long. If you need a more flexible lease term, or would rather not be locked into a long-term lease in the first place, a virtual office may be the perfect solution. With the ability to have access to lots of office space as well as conference rooms and a virtual receptionist, a virtual office is the perfect middle ground for those who need a flexible and affordable lease without losing the perks of a well-established office.

 5. Business Technology

Technology is becoming essential in the business world today. Whatever office space you ultimately choose it’s important to make sure that the space is adequately equipped to accommodate whatever type of technology you intend to use. If you choose office space that is not equipped for what you need it will end up costing you in the long run in regards to productivity and it may also look unprofessional to potential clients.

Choosing the right type of office space for your needs is an essential step before making the plunge and signing on the dotted line. If you’re not able to adequately predict what your business’ future needs may be, or if you’re not prepared to pay expensive monthly fees for long-term rental offices, it may be time to consider a virtual office.