Considerations for your first office space.
If you are running a business out of your home, then expansion might mean that it’s time to move into an office space. While this is an exciting opportunity for your company, this shift does require some serious thought. In addition to considering how the move will affect your business insurance in Woodside, New York, here are some of the other important considerations to weigh.
- Office Options
If your business relies on a small team, then you may not need to lease out a dedicated office space. Instead, you should consider securing a coworking space for your business. Coworking spaces are places where multiple businesses share the same commercial space. Entering a coworking space is an attractive option for smaller businesses because they are turnkey-ready, furnished, and affordable. Additionally, these spaces are already equipped with essential utilities, and many include amenities like coffee and snacks. If you want to lease an individual office space for your business, then this will be more expensive and require more work. This is because you will have to set up utilities, budget for furnishings and amenities, and take many other steps before you are ready to open your doors.
When choosing an office space, location is everything. If you already have employees, then you should try to find a location that your staff can get to easily. Many business owners want a space located in the heart of a major city. Establishing yourself in an urban center is attractive because it is upscale, relatively accessible, and near restaurants, shopping centers, and other appealing destinations. However, setting up shop in the city also exposes you to traffic, limited parking, and extremely high rent costs. For smaller businesses, it’s far more cost-effective to find office space in smaller cities or the suburbs.
- Lease Length
Signing a longer lease can help your business save money. If you are positive that your office space will be adequate for a longer period of time, then lock in the longest lease possible. This way, your rates are locked in even if rent goes up.
These are some of the important factors to consider when renting your first office space. Remember, you also need to review and update your business insurance in Woodside, New York, before moving into your office. For assistance with all your commercial coverage needs, contact the experts at 01 Insurance today.