Should you buy or rent an office space? That is the question that every new business owner struggles with, and with good reason. And while there are compelling pros for both of these options, we are all about renting a good office space and in this article we will give you a few great tips when renting your office in London that should make the whole process a bit easier for you, so if you are interested keep on reading this article.
Do you know where you want your business to go?
Although this may seem obvious, knowing where you want to take your business and how you want it to grow can really impact the type of office space that you are looking for. Knowing how much your business will grow can be difficult, but it is important because just saying that your business will have more clients isn’t good enough and you need to make sure that you are actually going to get those clients. This is because signing a lease is a big deal and will take you a lot of money, so to make sure that you don’t run out of money you should be conservative with how much you think you’ll business will bring in in the beginning.
Figure out how much space you actually need
Having a lot of space is great, but more space costs more money and is something that is difficult to come by in a city like London and if you are just starting out or are on a tight budget a lot of space may not be an option at all. So, one of the best tips when renting your office is that you should really look at how much space you really need to fulfill your business’ needs. When thinking about this, try to also think about the space that you may need in a few months, should you want to hire more people and put that number of desks into your calculations. Consider things like the shape of the space and try to go for a rectangular space, the number of future hires, the maximum occupancy rates and so on.
Is the location of the space good enough?
Location is everything, especially in a city like London and that is the truth no matter what anyone tells you. Having good access to public transport, airports, restaurants, gyms and bars and so on is something that will not only be extremely beneficial to your business but something that your clients and employees will really appreciate as well. Of course, a good location will cost you a lot more money, so make sure to take a good look at your budget and find the best that you can at the budget that is available to you.
Finding the right space sets the tone for the type of business that you are running and the vibe that you want your customers to get out of your business. Hopefully, these few simple tips when renting your office will help you find just the right space in London for you and your business, and if you make the right choice you will be able to see your business grow right before your eyes.