November 6, 2017
Your startup is busting at the seams and it’s time to find office space to keep up with your employee growth. When you’re starting to consider locations and type of workspace, make sure to consider this advice before signing on the dotted line. We asked 9 entrepreneurs their best tip to finding office space when their company grew.
Talk to Your Property Manager
If you’re currently renting a space, have an open conversation with your property manager. Often they will have something available that they are already managing, and will cut you some slack on your lease terms if you continue renting with their company. We’ve moved spaces three times in the past six years with the same property manager, and they let us keep our existing lease terms.
-Cassie Petrey of Crowd Surf
Consider Coworking Spaces
Consider moving your team, big or small, to a coworking office that caters to your work culture. Coworking spaces are a win-win situation. You still have the privacy of an office, as well as exposure to a community of like-minded individuals and built-in networking!
-Rakia Reynolds of Skai Blue Media
When we outgrew our office space for the second time, we looked for the new place only to realize we had a treasure in our own backyard. An empty warehouse was transformed into a new modern space that our employees love. We added an employee lounge, open office plans and many meeting rooms. We are now an integral part of our company.
-Elliot Bohm of CardCash
Ask Yourself if It’s Necessary
Do you need the new office? In this day and age, you should ask yourself if you actually require more space, or if it’s time to stretch your wings and go remote. It isn’t always important to have every member of your team in house. Further, it can actually help with creativity and growth if you offer employees who can easily manage themselves the ability to work from home.
-Blair Thomas of eMerchantBroker
Find a Recently Vacated Location
After a year on a waiting list, my cofounder and I were accepted into the startup incubator at the university and grew the company to a full-time staff of 15. It became clear we outgrew the incubator, so we looked for office space downtown. We found a freshly renovated office by a large telco who never moved in and wanted to terminate their lease. It saved us $250,000 in leasehold improvements.
-David Ciccarelli of Voices.com
Prioritize Company Culture
My company just moved from the suburbs to Philadelphia. Our goal was to find a space with a location and vibe that bolstered our company culture. It’s essential to be in a city for both the accessibility and the community. My team has a simpler commute, which attracts new members too. And now we’re part of the fabric of Philly and locked into the growing business community here.
-Nick Bayer of Saxbys
Seek Out News About Large Company Moves
Look for news articles in your area about large companies who have moved out of their office space. Then contact those buildings. We moved into a space that the U.S. Navy had recently vacated. The building had a big void they were looking to fill and so we were able to negotiate an amazing deal.
-Douglas Baldasare of ChargeItSpot
Check Craigslist or Social Media
With so many tech companies riddled with debt, it is surprising that more organizations don’t focus on running lean businesses. Renting a high-cost office space and signing a long-term contract for the space can spell disaster for a company down the road. Utilizing a platform like Craigslist or Facebook classifieds, which can eliminate the middle-man, can help companies find cheaper spaces and more flexible contracts.
-Robert Lee of Circa Interactive
Read about coworking spaces around the country at TechCo
This article is courtesy of BusinessCollective, featuring thought leadership content by ambitious young entrepreneurs, executives & small business owners.
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