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5 Financial Considerations When You Lease Office Space

Financial consideration when leasing office space

When you’re setting up a business, one of the first things you’ll need to do is find an office space for lease. You want the space to be able to fit a certain number of people. You want it to be located in a certain area. You might also want a certain type of layout, a certain number of windows, etc. These are all good things to look for when you’re leasing office space.

It’s also a good idea to consider where your company is going in the future before you decide on a certain location. What is your five/ten-year plan and what do you think your finances are going to look like during that time? It’s good to consider these issues before you decide on your office space.

Expansion

Are you hoping to find more investors and grow and expand your company? In that case, you are probably going to need a larger office space five years from now. So it might actually be a good idea for you to start looking at larger spaces right away so that you can start adding employees as and when necessary.

Cutbacks

On the other hand, if you’re planning to cut back or hire more remote employees (employees who work from home) then you might need a smaller office space five or ten years from now. This is an important thing to consider when you lease office space.

Market

Additionally, are you planning to move into a different market in a different location? In that case, you might want to consider getting office space in that location to make your future move more convenient as and when it happens.

Online

If you’re planning to start selling your product online rather than in stores, then you won’t need to have offices in a prime location but you might want to be located close to your warehouse. Yet another thing to consider when you lease office space.

Mergers

If you’re planning some kind of merger with a different company, then you might want your offices to be located close to the offices of that company. This will make the transition easier for you and your employees.

Contact us to learn more about the issues you should consider when you lease office space for your startup.