Picking a Shared Office Space for Rent: Tips for Startups
March 31, 2021
There are several factors to weigh in when you set out in search of the perfect office space for your business. From space and furniture requirements to your potential landlord’s reputation, choosing a place to rent will always require due diligence.
Given the emergence of various options in terms of modern offices, you may also be wondering whether they’re worth taking a look into. Take shared offices for example: what, exactly, do you have to share with other occupants when you choose a shared office space for rent? Also, will it accommodate your growing company’s present and future requirements? In this post, we’ll take a look at some tips and information to help you decide whether a shared office is ideal for your business.
Furnished Office for Rent: How Good is the Shared Version?
Coworking and shared office spaces were earlier considered useful only for one-man-businesses and freelancers. However, these days they’re slowly, but surely, being adopted by startups and small businesses.
Such spaces are undoubtedly becoming more popular due to various benefits but they aren’t without their disadvantages. The biggest of these involve the social nature of such spaces since these aren’t as structured as their conventional counterparts.
Shared Spaces are more Social
Renting a shared office space in Noida can be a mixed blessing. On the one hand, increases ambiguity regarding socializing – you can’t always tell whether your employee is having a work-related conversation on the company clock or a random chat during their break. In such situations, the efficiency and productivity of your team are at risk thanks to a greater number of distractions. However, you cannot control these distractions – all you can do is trust your team to remain on schedule despite them.
How this can Actually be Useful
This can be turned into an advantage by business owners in the same space. After all, they’re likely to be having similar issues as you. Hosting networking events like workshops and happy hours will help like-minded people from similar fields interact with each other in a more productive manner.
In a shared office space for rent, you’ll be working alongside multiple startups like yours. This makes your business more visible to investors looking for a promising startup like yours!
Limitations on Decor
Even though you and your staff can quickly begin and conclude their work in a shared space, there’ll likely be limitations on decor. You cannot make changes to it or switch up your setup in any way.
After considering these points, you may find it easier to decide what to choose between a shared or a traditional, furnished office on rent. There still are, however, certain factors you must take into account regardless of what you choose, like:
How Much Space Your Business Needs
It is important to consider the precise amount of square footage your operation requires before you begin your search. This will reduce your efforts and help you narrow down your list quicker. Besides, you don’t want to waste money by paying for extra space you don’t need. Nor do you want to have your employees work in a cramped space – it affects productivity and morale. Therefore, determine how much space you require – and how you plan on using it – at present and in the future.
Ask yourself questions like the following for a basic idea:
- What is your employee count?
- How do you plan on increasing your staffing?
- What is the employee count you expect in the next 5 years?
- What will be their office space requirements?
Proper awareness of your employee strength and its projected increase will help you compute a rough estimate of required office space. Generally speaking, the average employee needs around 175 to 375 square feet of space. Of course, this number may change based on your industry, staff strength, and typical requirements.
Choosing the right furnished office on rent is no Renting office space for your business is certainly a big decision. Mistakes can cost you dearly, especially in the beginning. That’s why it’s essential to go ahead with a budget and a clear set of requirements with room for growth. With Procapitus, you can figure out what’s best for your business. Reach out to our experts and let us know your ideas. We’ll help you find a great office space that matches your needs and expectations.
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