Posted on: 16th November 2022
Reading time: 9 mins
Choosing the right space for your business to take its next steps isn't something you should jump into too quickly.
Flexible workspace options help employees in a variety of workforces. They’re especially helpful in workforces where previously employers have expected employees to uproot themselves and change their patterns.
Having said that, it's important to look into your real business needs before deciding on commercial office space, without an assumption of the physical space required.
Below, we explore different commercial office spaces, including flexible workspaces, to help you determine what’s the right office space for you and your business.
There's no single answer to this question that satisfies all businesses looking to find an office.
Some will be happy with some desk space, while others need a floor of a prestigious city center address with a mix of small offices and communal space. It's easier to break the task down into a series of factors in your search for office space.
Bear in mind that the perfect office, which fulfills all your needs, might not exist, so often it's about making smart compromises.
For example, it’s unlikely you’ll find a quiet city center office with parking for 100 cars and acres of countryside to spend your lunch hour in. But you can more easily find a suburban office that fulfills some of those needs if you know what you can do without.
Here's what to look for when renting an office space, with considerations ranging from client and employee locations to opportunities for growth and scalability across the globe.
Before embarking on an office space search, ask yourself if you need a dedicated office space for your business.
Professional office spaces come with a host of benefits like centrality, networking opportunities, amenities, and flexibility. However, there are still times when you can get by without a formal space.
This is especially true if you're just one person with a laptop and a great business idea, in which case hot desking may be the best route forward. When you grow, you can consider moving, but it's sometimes better to concentrate on the business itself.
When you've decided on the type of workspace, the location becomes perhaps the most important factor.
If you're on your own or part of a small team, somewhere close to your home is probably important. However, there are other things to consider.
● Where are your clients based?
● Is it important that you're close to them?
● Are you part of a sector that has its own recognized quarter in the city? (For example, banking, law, and digital sectors often cluster together)
● Do you have a brand image that means you need to impress clients with a prestigious location?
● Where is the center of gravity for your employees' homes?
● Is it easy to commute to?
● What are the typical rent costs in a given area?
● What are the local amenities? (For example, are nearby restaurants, shops, and parks what you’re looking for?)
These questions and more should be answered when seeking new office space.
A small business will usually be fine using an open-plan office space where everyone works together. However, once you start growing, or if you're dealing with sensitive information, you might want some private offices or meeting rooms in your new office.
There's also the question of whether you'll be stuck with the landlord's layout or whether you need a custom office to stamp your personality and needs on it.
Office space is one of many costs associated with running a business. Cost is a critical issue and can be what determines whether you can secure "the perfect office space".
Sometimes, a contract that you find will be negotiable, so it's always worth pursuing a deal. However, balancing the cost of the rent with the potential profitability a particular office can bring should be at the front of your mind.
Agreement terms aren't just about the length of the agreement for the space, although that's vital.
You should also know exactly what's expected of you. Some non-serviced office contracts will demand that tenants pay for cleaning and maintenance, repairs, and so on. The amount you need to pay for energy or even WiFi also varies from landlord to landlord.
It's not uncommon to pay per employee with some contracts, so that's something to bear in mind if you're expanding.
Our professional advisors can walk you through all services and provisions that come with a bespoke flexible office package. A standard, cost-effective, and flexible office space package with Regus can help you spend less time managing bills, and more time focusing on your business.
If you can see your business growing soon, or if you're planning on switching to a hybrid model, it's useful to have a commercial property that’s flexible. A little wiggle room for growth and the ability to cut costs if you shrink or change models.
The nature of your business is a key consideration when finding a space.
Some business owners like a collaborative environment, with open, frictionless workspaces. Others need space for employees to get their heads down and concentrate on the job with the minimum of interference.
The layout and design of the office all contribute to that mood, and some might prove to be wholly inappropriate. A custom office allows you to take control and design a workspace that perfectly matches the style of your business.
Finally, office spaces come with a range of facilities. These range from a simple desk and socket right up to kitchens, gyms, bars, and car parks.
When leasing your space, it's good to know what's included in the cost, what's available at a price, and what you'll need to go elsewhere for (or bring your own).
Almost every office will have a minimum of WiFi, printers, scanners, reception desk, and toilets.
Within these options, there are also a few distinct types of arrangements that you can choose from when you're looking for the right office space.
Here's a quick summary of the different office spaces you can choose from:
■ Traditional office: These are office spaces that are on a contract, typically for small to large companies. They can be flexible too, but sometimes commercial real estate providers do not allow customization of any kind.
■ Private office: These are typically smaller spaces designed for fewer than four people. It usually has furniture included and is useful for sensitive or private work. Or, simply where there's a need for peace and privacy.
■ Hybrid office: These allow a company to set up a hot desking system and not take more office space than needed.
■ Coworking space: A shared office that's used by people from different organizations, freelancers, and entrepreneurs. Coworking spaces are useful for flexibility and cost-effectiveness, but also great for networking.
■ Day office: These offer all the benefits of a private office, but you rent it by the day instead of signing a long-term or short-term contract.
Whether you’re looking for your first office space, you're upscaling, or you’re reaching out into a new region, Regus is here to help. Have a look at our office spaces across the globe for more information.
Regus offers office spaces all across America, with office space solutions in New York, California, Texas, and beyond. You can find different office spaces to fit your business and your way of working, ranging from coworking spaces to virtual offices. Work your way with Regus.
Want to know more about how we can help with hybrid working? Give us a call.
We’ll get you set up straight away.