When getting started with a small business, you might be working out of your home for a period of time. But eventually, your growing business will need its own space. So how will you know when that time comes? Below, we walk you through the signs of when it’s time to move to an office, as well as what workspace options you have available for your business.
When Should You Look for an Office Space?
In general, it’s most likely time to stop working from home and move your small business to its own space when:
- You need to add employees and don’t have room at home for them.
- Your business is growing, and you don’t have space at home for your equipment or inventory management.
- You need to meet with clients or partners in more professional settings.
- You feel lonely, distracted, or unproductive while working from home.
If you’re at this point with your business, it may be time to consider a move to a more dedicated workspace outside of your home.
Do You Need a Traditional Office Space?
While getting a traditional office space is usually the next move for small businesses, it can sometimes be an unnecessary expense. Not only would you be paying monthly rent to lease the space, but you’d also have other expenses, such as utilities, maintenance, furniture purchases, and other overhead costs.
Fortunately, there are options for small business owners who can’t work from home anymore, but who also don’t need a traditional office.
- Coworking Spaces: These open-place offices rent space by the desk or room and are popular among freelancers and small businesses. Utilize tools like WeWork and Coworker.com to find coworking spaces nearby.
- Shared Office: A shared office space resembles a more traditional office environment, but its rooms house various professionals and small businesses. Take a look at Regus, DeskPass, and LiquidSpace for flexible office rental plans.
- Studio Space: If you’re a creative, and you need room to paint, cut, design, sew, or rehearse, you may do better with a studio. Check out Fractured Atlas’ SpaceFinder or Giggster to find studio spaces.
How to Find the Right Office Space for Your Small Business
Not sure where to start when it comes to looking for office space for your growing business? Start by asking yourself a few questions to visualize what kind of space you’ll need (and can afford).
What’s Your Budget?
If keeping costs low is a priority for you when it comes to your business expenses, a one-year lease on a traditional commercial office space might be out of the question. In this case, it’s best to start small. Consider the coworking space or shared office options to save money on overhead costs. If, however, you have some room in your business budget to lease a commercial space—and your business is growing rapidly—it might be worth taking a look at a traditional office.
What Are Your Needs (or Your Customers’ Needs)?
Think about how much physical room you need to operate your business and try to choose a space around that. For example, if you have a lot of inventory coming in and going out, you may want an office space that has a storage room or garage. You’ll also want to consider your clients. Will they need to visit your business in person? Will you need to host meetings with them? A shared office or coworking space might be too disruptive for your client relationships.
Do You Plan to Grow?
Perhaps this office is just a jumping-off point for bigger and better things for your small business. If you can, plot out your next five to ten years of growth to get a better idea of how long it will take before you outgrow this new space. If you’re growing much faster than you’d anticipated, it might be smarter to invest in a larger commercial space now so you don’t have to move the next time you hire.
An important thing to remember is that flexibility is on your side! You don’t need to settle for a long-term commitment in a space that’s not a good fit for your small business. Once you understand your needs and your resources, you’ll be able to find a space that will allow you to achieve your goals!
Need to store commercial files, inventory, materials, or equipment? Extra Space Storage has convenient storage facilities throughout the U.S., so we can help with your small business needs. Find self storage near you!