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Tips for Finding a New Space for Your Growing Company
As a new business, you hope to grow and expand as rapidly as possible, and there are a lot of things to think about as this happens, like hiring new employees and buyings desks to accommodate them.
But one of the hardest hurdles to overcome is the inevitable moving day. At some point you’ll outgrow the space in which your company began and will be forced to find a new location that is large enough to support your growing workforce but small enough that it won’t break the bank.
It’s a process that can be intimidating and nerve racking, but never fear. If this is the stage your company is currently in we have some tips to help make finding a new space faster and easier.
1. Speak to your current landlord. They may have other properties available or know someone who does.
2. Explore the possibility of co-working. These spaces are often already equipped with everything you need, from furniture to internet access to coffee and snacks.
3. Find an agent who knows what they’re doing. Finding a new space is tricky, and negotiating can be even trickier. If you’re not up to the task yourself, ask fellow business owners for recommendations until you find a broker who has plenty of experience.
4. Don’t be afraid to haggle. Everything is negotiable. If you’re handling finding your company’s new space on your own, don’t hesitate to bargain with your new landlord on rent.
5. Keep an eye open for companies who are moving out. Often, when a large company moves out of a building, the landlord is eager to fill their spot and may offer a discount to incentivize new tenants.
6. Look at unusual spaces. Buildings like warehouses and factories make unique and fun office spaces that offer plenty of room to grow. Plus, they’re often much cheaper than a space in a business park.
7. Consider whether you need one big, new office or an additional smaller office. If you don’t need all your employees to be in one place, it may be easier and cheaper to open a second office location.
8. Look for subleases. Subleasing from a company who is moving out of their office with time left on their lease is a great way to find a new space at a discounted price. Not to mention the fact that subleases often don’t require as long of a commitment in terms of time.
Additionally, here are some questions you should ask when looking at prospective locations:
- Does the price fit your budget?
- Is the location easy for customers to find?
- Is it convenient for employees to get to?
- Does it have extra space you can grow into?
- Does it need renovations?
- How much more will bills like electricity and water cost?
- Is there plenty of parking for customers and employees?
- Is there an option to end your lease early if need be?
- Is it wheelchair accessible?
Chances are when you move into your new office, you’re going to need some new office furniture to go with it. Located in Dallas, TX, Office Furniture Source has a huge selection of office furniture to fit any budget, from desks to a variety of seating solutions. Contact us or give us a call at 972-242-1700 to learn more about our products.