Real estate is notoriously tricky to navigate…but it doesn’t need to be. In this three part series, “Finding the Perfect Space For Your Team,” we’ll give you insider tips and resources for finding an office for your team. First up, we’re breaking down the different types of space available for your team to rent.
Part 1 (of 3): What Type of Space is Right For My Team?
So your company is ready for its own slice of the real estate pie (aka Company HQ). Congratulations, this is a big step! Your HQ will help define your company culture so it’s worth taking time to weigh all the options available and begin your search with an idea of the best type of space for your team. Below you’ll find the most common office setups out there.
Desks grouped together in a shared space, possibly in a coworking space but more likely in another company’s excess space. This is a great option for companies just getting started and on a budget. It’s also an awesome opportunity to form a symbiotic relationship with a like-minded company.
A large, private room fit for a small to midsize team. This could be at a coworking space, directly from a landlord, or within another company’s office space. A great place to bring teams together to focus and collaborate. Not so great for growing teams or teams that are on the phone often.
A multi-room, private space for a midsize to large team. This could be within a serviced office center, at another company’s office, or as a standalone space with its own entrance, reception, and meeting room. The perfect upgrade for a growing team that needs more space to meet and work.
Easy as that, the different types of office space available. Think you’re ready to dive in? First, consider a couple other factors as you begin your search:
Your growth potential can affect two aspects of your new space, the term and size. If you’re set with the team you have for awhile, you might consider committing to a longer term of 1-3 years. Often rent is discounted when you’re committed to staying for longer.
If you’re planning to bring on additional staff in the near future, you’ll want to factor in extra space to grow at the space you’re looking at now or consider a shorter commitment so that you can easily move into a larger space down the line. Also, keep in mind the type of staff you’re planning to hire. For example, if you plan to bring on a new sales team, it might make sense to find a space with private areas for this team to make phones calls without disturbing everyone else. Planning now will make hiring easier down the line.
Every team has different priorities when it comes to amenities. Some teams want reception service to answer the phone, greet guests, and help out with administrative tasks. Other teams are just looking for a chill vibe with a kitchen/dining area for lunches (and maybe a keg full of beer for in-house happy hours). It’s important to consider your team’s preferences, in addition to your own, as you set out on your search.
Cut down on your team’s commute by taking into account where everyone lives. Be sure to consider not just the traditional car commute but also proximity to public transportation. Beyond that, you may want to consider where your clients are located or if there are restaurants and entertainment nearby. Your office location will help define your company culture. For example, you most often find tech companies clustered in San Francisco’s SoMa District, or financial firms on Wall Street.