Startup companies are unique businesses with tons of potential. A startup is not a small business, it’s a young company trying to meet a market need by offering a legitimate business model around a product, process, or service. Startups have unique needs, particularly when it comes to finding office space real estate. At times, a simple office plan to house a few employees will suffice. However, planning for lots of growth that comes with success should not be overlooked. Rakow Group can help you find the office space real estate perfectly suited for your startup. We have prepared a few tips below on how to find the perfect office space for your startup.
Think About Subleasing an Office
Sometimes, startups are making some revenue, but not quite enough to afford leasing an entire office. The banks can be difficult to convince, particularly if your startup is not yet profitable. A good idea for companies in this position is to sublease an office. If your startup is expected to remain in the growth phase for a while, subleasing is a great option.
Consider the Amount of Space Required
It’s very important to choose the right amount of space for your business, especially when you are in the startup phase. You don’t want to pay money for extra space that goes unused. Typically, startups will consist of a small group of employees. A classic rule of thumb is to go with 1000 square feet of office space real estate per 5 employees. With that assumption, you should be able to comfortably accommodate all of your employees.
Don’t Be Afraid to Negotiate
There is no perfect formula or secret sauce to finding the perfect office space real estate for a startup. Keep that in mind when you are going into negotiations for commercial property for rent. Everything can be negotiated, even the monthly rent. Always try to get the rent down at least 5 percent lower. You never know what kind of a discount you might get to make the deal happen.
Work with a Trusted Agent
As a startup, you can’t afford to make mistakes with your office space real estate. It’s important to work with a trusted real estate agent that can provide you with advice and guidance every step of the way. If you are seeking commercial property for rent, working with a professional broker at Rakow Group is always a great call.