the essential guide to finding the perfect office space

BusinesSuitesOffice Space, Virtual Offices & Meetings Rooms

Find a Location at businessuites.com/locations/

Phone: 1-800-261-0120

When you are looking for a location to “hang the shingle”, there are many obstacles and elements that you have to consider before committing to a location. Your office space is just as important to your business as your logo, slogan, website, and everything else that makes up your corporate brand.

SucceSS iS much eaSier to achieve when

You have the right foundation.

If this is your first time renting an office, the process can be daunting. Luckily, there are some simple steps you can take to make the transition a little easier. Check out this short guide from BusinesSuites on how to find an office location that fits your company and your vision.

guide to finding a perfect office Space



Phone: 1-800-261-0120

assess what Your company and Your clientS reallY need

Finding an office space is similar to putting a puzzle together. Before you can see the full picture, you have to look at the individual pieces. An office should accommodate your company needs, your budget, and your business plan. Ask yourself the following questions:

what amenitieS do You need for Your BuSineSS?

You know your business better than anyone, so you know what tools and amenities you need to operate. Examples include:

Janitorial service

Business phone service

separate from your personal cell phone

Business-class Wired, Wireless

internet

printer, copier/

scanner, Fax

Kitchenette / reFrigerator

dedicated Meeting rooMs

storagefor documents and equipment

Front desK / reception area

oFFice Furniture

access to the highWay or puBlic transportation

for your team and your clients

utilities

These amenities will factor into the location you choose for your office space. Some may be needs and some may be wants, but they all have to be considered when choosing a location.



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have You conSidered Your clientS’ perSpective?

When searching for the perfect office space, it’s easy to forget about your clients’ wants and needs. Ask yourself these questions to address your clients’ best interests:

• What type of office environment do your clients expect to see?

• What kind of work will you do with prospects and clients in your office?

• What does your office need in order to leave a positive impression on your clients?

And while it’s a tall task to adhere to all of your clients’ expectations and preferences, keeping an organized office is one that every business is expected to meet. But let’s face it, that’s easier said than done. Offices get busy, things can get messy, and supplies and equipment can get a little out of hand.

However, you have to keep your client in mind. While it’s OK for you to work in environments

where things look somewhat hectic, it’s not what your clients want to see when they step through the door.

One simple solution to masking a cluttered work environment is to have a separate area to meet with clients that gives off the professional feel of an executive office. For instance, maybe you want to have a small conference room, complete with a projector for presentations, and a small kitchenette or refrigerator to offer your client a beverage while discussing business. Or perhaps your office gives off a pleasant, organized atmosphere, but machinery like copiers, printers, and fax machines interfere with the professional look of the space. Having a separate “printing / copying” room may be a requirement in order to please your clients.

no matter what the need or want may be, it is important to understand what your client expects from your business’s overall atmosphere. ultimately, your clients are the ones that have the power to make your business a success.



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how much Space do You need? what do You need the Space for?

The amount of space you need will depend on the nature of your business. A financial planner might get away with a single office, while a tax firm may need a series of offices and conference rooms. Also, be sure to consider the current and future needs of the office space based on expected headcount. There’s no sense investing in a location that you have to move out of in the first year because it suddenly becomes too big or too small.

Furthermore, make sure you account for the furniture and equipment needed to run your business when you assess special requirements. For instance, if you have a team of phone application designers, you may need a slightly larger room to suit a team environment. If you host board meetings and other events, you may need a conference room that can support a large table, chairs, buffet tables, and more. The average square footage space per person is figured to be about 150 sq. ft. – Keep in mind this figure was calculated for businesses whose employees work in cubical spaces with many other employees.

As business owners, there are several resources available to you to calculate the amount of office space your business would need to function. One such resource is the Space Analysis Worksheet provided by Guidancebrokers.com. This worksheet takes into account the exact number of employees you have, common workspaces, personal workspaces, and more. However, if purchasing or renting a full-time office with enough space for meetings, events, etc. seems excessive for your business needs, a shared office space may be a better option.

A shared office space is an arrangement that allows multiple companies to share the amenities, services and costs associated with running an office. With shared office spaces, each company may give up some amount of privacy and “ownership” of the office in exchange for lower costs. Shared amenities typically include conference rooms, a kitchen/cafeteria, reception services and janitorial service. In short, shared office spaces are a cost-effective way to have a professional look and feel, without having to fork over a huge percentage of your earnings to maintain that atmosphere.

http://www.guidancebrokers.com/



Phone: 1-800-261-0120

iS a virtual office an option? or do You need a full-time workSpace?

Perhaps having a full-time office space isn’t a necessity for you, your business, or your clients; in which case, a virtual office space may be the perfect solution to your needs. A virtual office includes some set of business services, like a mailing address or phone answering service, but does not include a dedicated, private office space.

If your business often receives important mail, or if you ship and deliver products, having a “mail only” service may be the answer to your needs. This service gives you a local address, and makes it easy for you to drop off and pick up items that you need mailed or have received by mail, rather than using a home address.

Maybe your business requires you to meet with clients in short increments each month, but all of your other work can be done from a home office. A virtual office space can include certain amenities like conference room hours, or an on-demand day office. This may be a good solution because you can show your clients a professional atmosphere, but you don’t have to worry about all of the expenses that a full-time office can incur.

If you employ multiple people, meet with clients regularly, or need a full-time office in order to get work done, a virtual office is probably not the best option for your business. However, if you require only minimal amenities or prefer working from home, a virtual office may be a viable solution to your workspace needs.



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What is your Budget? Of course, a great location means nothing if you cannot afford to pay for it. It’s important to translate your needs and wants into a budget that you can afford. This can be difficult when there are so many things to consider. Keep these three things in your mind as you try to clarify your budget.

1) Write things down, even if you don’t have numbers.

Make sure you document your decisions about what is important for your office. As you look at different options, you’ll need to make sure you know what is and is not included in the pricing you see. If you have things written down, you’re less likely to sign up for something that you’ll later regret.

2) Think about up-front costs vs monthly expenses.

Setting up an office can require significant up-front investments in remodeling, furniture, equipment and service activation. Different office space options may vary in terms of how much money your business needs to spend just to get started. Make sure you know what you’ll need to spend before you ever start working in your new office.

3) Don’t devalue your time.

It can be tempting to take a “do it yourself” approach to setting up and managing your office in order to save money, but don’t assume that your time is free. As a business owner, your time is best spent running your business, not running your office.

Next, let’s move on to business location. What should you consider during a search for the best office space?



Phone: 1-800-261-0120

find a location that meetS Your needS & expectationS

Regardless of industry, each company has a unique way of accomplishing their business goals. When assessing which location is best for your business, try to find a place that will make you and/or your team the most productive.

how Your location maY influence Your productivitY

great viewSSome find it inspiring, while

others find it distracting

in-town vS. out-of-town

What is the proximity of your office to your home, your clients, and your employees?

overall environmentDo you feel ready to work when

you get there?

corner officeMaximum exposure that

comes at a price

acceSSiBilitY Restrictive access to your office (e.g., security measures) or the

ability to walk right in

proximitY to Similar BuSineSSeS

May draw in new clients, or it may drive them to your competitors



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the location of Your office iS important in the deciSion proceSS. when chooSing an office Space, You muSt take into conSideration:

acceSSiBilitY

other BuSineSSeS/attractionS in the vicinitY

SafetY & SecuritY

Accessibility is important for everyone involved – your clients, your employees, and yourself. Your office should be in a location that is close to current and prospective clients to allow them easy access to your office for times that visiting the office is necessary. Typically, a good practice when choosing an office location is to find an office space near a major highway to provide an easy – and quick – commute, and simple directions that are easy to follow.

For current clients, a dramatic increase in the commute to your office location may cause them to be unhappy or terminate their services with your business completely. However, your location should also be in an area that will attract new clients. If you own an interior design business, for example, your prime office location would do well in a city/urban area, rather than a rural community. Before choosing an office location, keep in mind your current clients, and be sure to research the area’s demographic information to determine potential new buyers or clients.

Other businesses and attractions in the area could be a make-or-break factor when choosing an office space. The presence of a competitor in the vicinity of your prospective office location is something to consider. Moving into the same area could increase your business – if your competitor is doing well, there could be a high demand for your services in the area. However, if your competitor is popular within the community, matching their reputation – or superseding it – can prove difficult. Also, consider other businesses in the area as potential partners, or as complimentary services.

Be aware of the area directly outside of the potential office space as well as the surrounding area and the community. do you feel safe there? Would you and your employees feel safe if you were working or leaving the building late at night? Do other businesses close early, or are they open late? Your office will be holding some valuable equipment and information.

does the building have the necessary security measures to keep your property secure? Assessing the area is beneficial to your brand, your employees, your clients, and yourself. An area with a high crime rate, or a location that is not properly secured can put you and your employees in danger, dissuade prospects and clients from visiting, and can put your property at risk of theft or damage.

Consider what security options are available at the location. Minimally, you want to have sufficient lighting in both the parking lot and around the building as well as an updated security system. Other security features you may want to consider are:

• Security guards on the property• a coded entry• Security cameras• vicinity to emergency services (police,

fire, ambulance)

When choosing an office space, the area outside your office can be as important as the area inside. Having a professional interior with all of the amenities does little when the location isn’t ideal for your business. Research the area, the local businesses, the population demographics, and the security features at the location before leasing an office space. It never hurts to be thorough with your research when you are making a huge decision with your business.



Phone: 1-800-261-0120

underStand Your leaSe agreementWhen you have found a favorable location, the next step is to review the lease agreement. It is crucial to recognize that commercial leases are quite different and more complex than residential leases. The lease for your office may include a set of amenities or options that you will not have to pay for out of pocket. If certain amenities aren’t included that your business requires, you need to determine the cost of covering those amenities on top of a lease. Some inclusions for the lease may be:

security: It is important to choose a location where your clients

feel safe. Some security features to consider are

an on-site security guard, surveillance cameras, security

gates, or an on-call officer.

oFFice staFF: Your lease may include a secretary or personal

assistant that works for the entire set of office suites, or you may have to hire one on

your own.

Furniture: Similar to office equipment,

certain office suites may include desks, tables, chairs,

etc. that are needed to run your business.

utilities, property taxes and coMMon area Maintenance: Some leases require you to share the

building operating expenses, and they may even require a “true up” at the end of each year if expenses are higher than projected.

signage options: Can you put a sign in the window or on the door? If

it’s a shared office space, will other businesses do this, too? Will you be listed in a building

directory?

Janitorial staFF: Does the office provide

janitorial services, landscape maintenance, pest control,

etc.?

Mail services: How will you go about collecting

mail? Is there a designated mailbox at the office or a

mailroom you can rely on? Some office suites require you to

receive mail at the post office.

oFFice equipMent: Fax machines, printers,

computers, and more may or may not be included with your

office space.

to ensure the office is worth your investment, review the lease thoroughly to understand the terms and agreements as well as included amenities stated in your contract.



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what kind of time commitment are You prepared to make?

Most conventional office leases require a term of three or more years. If you’re just starting out, you probably need as much flexibility as possible in case you need to adjust your business plans. In that scenario, a non-traditional leasing model might work better for you.

Virtual offices and business centers typically require an average commitment of 3 months, but there are business centers that offer a month-to-month contract with fully-furnished offices. Sometimes these office spaces include perks like a cafeteria or lounge as well. With a little bit of research, you can rent an office space with the amenities your business needs without carrying the burden of a long-term contract.

compare rent priceS to find the BeSt office for You

How does the rent rate for your desired office compare to other locations? When you consider the amenities, location, value, and budget, make

sure you are not sacrificing necessities for a lower rent. Use the Office Expense Worksheet attached to the end of this guide to determine which office space will give you the most value for your money.

what can You learn from thiS?

Digest all of the information in this guide, and then ask yourself, “What can I take away from this to better my office search?” The most important takeaway is to recognize the difference between business necessities and wants, and using what you’ve identified to guide your search.

Explore your options thoroughly before making a decision, and don’t disregard options like shared offices or virtual office spaces. Read over the lease carefully to ensure that everything is included in the contract, and the terms and agreements are fair. Also, remember to choose the office space that makes you feel good to be at work.

happY office hunting!



Phone: 1-800-261-0120

rent workSheet

The Rent Worksheet is a resource created to assist you in your search for the perfect office space. Organize your locations at the top of the rows, and record your information at each location in the columns. using a simple scale of 1 to 5 in the top part of the worksheet, grade each of the services, amenities, or equipment listed in the column headers. For instance – while visiting Location 1 – you are pleased that there are furnishings provided, but they are of an outdated style that doesn’t suit your brand’s appearance. In this case, you may grade this section as a ‘3’. While it is a plus that the office comes pre-furnished, you may end up having to purchase different furnishings that complement your brand.

the bottom half of the worksheet is similarly laid out, however the information recorded should be quantitative. For instance – at Location 2 – be sure to ask the landlord if there is a setup fee you would have to pay upon moving in. If there is, record that amount in the corresponding column. If not, mark the section as non-applicable or as included in rent cost.

location 1 location 2 location 3

Address

Grade the following items on a scale of 1-5, 5 being the best 1 being the worst.

Meets Space Requirement

Commute Time /

Accessibility

Safety & Security

Amenities Onsite

& Nearby

Equipment & Supplies

Furnishings Provided

total Score



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location 1 location 2 location 3

Fill in and cost information for the following.

Base Rent + Operating Expenses

Equipment (copiers, prin-ters, etc.)

Phone Service

Internet Service

Office Support

Setup Fees

Janitorial/Maid Service Cost

Utilities Cost

total cost