Renting Office Space? 5 Things You Need To Consider

Whether you’re renting an office for the first time or relocating from existing premises, we share five things you need to think about before you start your search.

1. Does location really matter?

It’s probably one of the first things you think about when you start defining your office search – but how important is location really? Some locations are more popular than others, while some have a certain cachet that others lack – but how essential is this to your specific business? Will it win you extra clients? Will it allow you to charge more for your services or products?  It’s important to distinguish how you feel about a certain location from the business case for renting space there. Of course, all other things being equal, go for the location that makes you feel a little twinge of excitement.

2. Will your employees like it?

You might be paying the rent, but it’s what your employees think that really counts – after all, they’ll be spending at least as much time there as you. And if your new address adds time onto their daily commute, or the lack of daylight leaves them feeling down, you can guarantee they’ll have plenty to say.  On the other hand, if your current employees like it, chances are it’ll be a hit with potential new recruits, making it easier to hire the right talent in the future. So find out what they want in an office before you start your search.

3. How much space do you really need?

One of the biggest mistakes companies make is taking on more office space than they actually need.

The reality is that other than desk space for your employees, you may not need much extra space at all. Most modern business centres have breakout space and a business lounge you can use when you need to get away from your desk. Most also have meeting rooms – sometimes free to use, sometimes to rent by the half-day, or even by the hour. So make the most of this shared space to keep your monthly rent down. Expect to be taking on one or two new employees in six or twelve months’ time? Serviced offices typically offer short-term contracts that allow you to re-evaluate how much space you need, every few months. And ready installed internet access and phone systems making moving to a larger office easy. So don’t start paying for space you might need – until you actually need it.

4. Who are the neighbours?

You’re not just renting space; you’re joining a community. So find out what sort of businesses are located both within the centre and the immediate surrounding area. As well as making sure that your business is a good cultural fit, you’ll be able to maximise those networking opportunities – and maybe even find yourself some new clients. You probably don’t want to be the only cutting-edge web designer among a collection of financial services companies. Among a community of media and tech startups? Now that’s more like it.

5. How much value can it add?

Granted, you’ll need to have a budget, and it’s natural to think about price – but it’s more important to focus on the overall value the right office space could add to your business.  We’ve already explained how the right location could help to grow your business. But the range of services included at many serviced office centres can also help you reduce the cost of overheads –from photocopying to meeting rooms and internet access – so ask what’s available with each office.

Here at Ransom Wood we can offer you a great location, 70 acres of woodland in which to base your office.  A tranquil oasis of calm away from the hustle and bustle for you and your employees in light and airy offices.  Our on site restaurant gives somewhere to take a break for coffee or lunch and a place to meet clients and hold conferences or events.

As for actual space, we have offices available from just 100 ft2 up to 2500 ft2.  We can give you flexibility if you need to start small and then expand.

Our friendly community of neighbours often work together and we have a wide range of businesses on the park including accountants, web design, physiotherapy, recruitment.  There’s also a brand new children’s nursery if you need somewhere for your little ones during the day.

Give one of our team a call on 01623 675304 to see how we can help you make the move to Ransom Wood.