How to Choose the Perfect Office Space for Your Small Business

“Location, location, location!” is a cliché we often hear about when it comes to real estate. If you’re looking to rent an office for a small business, you’re probably considering several factors like budget, convenience, and, of course, location. Or maybe you’re unsure what to prioritize, and you're not sure where to start. Don’t worry, our experts at 620 N LaSalle have put together 13 steps you should take before signing any lease.

Which Industries Excel in Small Business Offices?

Selecting the perfect office space for small business owners is a pivotal decision that shouldn't be rushed. How suitable a space is often varies based on the industry, as different industries have distinct needs and priorities when it comes to their office environments. In this table, we explore a range of industries and the reasons why they excel in small business offices. From legal consultations to creative brainstorming, each industry finds its niche in a well-designed workspace.

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In the diverse landscape of small businesses, the right office space is the foundation of success. Industries such as financial advisory, startups, and therapists find their optimal environments within small business offices. The unique requirements of each industry shape the layout, atmosphere, and amenities that contribute to their excellence. By understanding how various industries thrive in specific office settings, businesses can make informed decisions that propel their growth and enable them to reach their potential.

Step-by-Step Guide: Finding the Ideal Office Space for Your Small Business

1.  Estimate the Space Needed

Think about your team and how you work together. Are you a close-knit crew or do you need room to spread out? Consider your future growth as well. You don't want to outgrow your space as soon as you settle in. Aim for a balance where everyone's comfortable, yet you're not paying for empty corners.

Before you go office hunting, list your essentials – desks, meeting spaces, storage, etc. Don't forget to find room for that coffee machine that keeps your brainstorming sessions buzzing. A physical office space that feels just right isn't just about square footage; it's about creating a space where your small business can thrive, collaborate, and conquer.

2. Consider the Location and Accessibility

Any small business owner needs to have a solid understanding of their target customer and unique selling proposition. Locating in an upscale neighborhood may be necessary to attract higher-paying clientele, but rent will cost more. Less upscale areas may offer tax incentives and be cheaper but aren’t always as safe.

It also depends on if your business is client-facing or not. If most of your work takes place online, you may not need a space that accommodates clients at all. With no definitive solution, it’s more about weighing up the pros and cons and doing what’s best for your business. For instance, leasing in an upscale area can sometimes improve client acquisition, so costlier rent isn't an issue.

3. Compare Different Types of Lease Offered

When it comes to leasing office space for small businesses, it's like picking toppings for your pizza – there are choices, and you want the perfect slice! In this case, that means finding the best office space for your needs. We've outlined some leasing options to find the one that fits your business like a comfy hoodie.

• Hot desk: Picture this – a dynamic workspace where you hop in, grab a seat, and get cracking. Hot desks are all about flexibility. Perfect for freelancers and those who don't need a designated spot. It's like a café vibe but with more focus;
• Dedicated desk: Got your lucky mug and a go-to spot? A dedicated desk space is your home base in the office cosmos. It's your little corner of the universe, where you set up shop and let the creative juices flow. This one's for small teams or solopreneurs who crave consistency;
• Daily office: For those who love options, the daily office is like a buffet. Pick a desk, any desk, for the day. Need a private chat or brainstorming session? Nab a meeting room. It's like having your cake and eating it too – flexibility and privacy in one neat package.

So, whether you're a hot-desking ninja or an office explorer, there's a lease type that matches your vibe. Consider your team size, work style, and need for privacy, and the process of office space finding will be a breeze.

4. Inquire About the Amenities Included

Don't forget to think about the perks that come with an office environment! When scouting office spaces for small businesses, make sure you understand what comes in the package. Amenities can make or break the deal, so don't be shy to ask what's included.

Here's a checklist to get you started:

• High-speed internet: Because slow internet is like slow traffic – nobody's got time for that;
• Conference rooms: A place to dazzle clients and hash out grand plans;
• Kitchen and break area: Food and coffee are the fuel of champions. Make sure your employees have what they need;
• Printing and scanning facilities: Although you might not use these daily, it's nice to have access to them;
• Security: Your business security is critical to future growth;
• Parking: Nobody likes the stress that comes with looking for a parking spot;
• Fitness center: Finding an office with a fitness center can promote a good work/life balance.

Don't hesitate to negotiate. If the space is missing something crucial, see if they're open to adding it. The right amenities can turn an office space into a productivity playground for your small business.

5. Define Your Budget

Before you dive into the world of office hunting, make sure you understand your budget. Renting office space for small businesses requires that you know your spending limit. Average costs can vary depending on factors like location, size, and amenities.

In general, you might be looking at around $2,000 to $6,000 per month for a small office in a mid-range area. If you're all about the prime spots in a bustling city, be ready to spend anywhere from $5,000 to $12,000 or more. And don't forget the extras such as high-speed internet or fancy meeting rooms. These add-ons could be an additional $40 to $200 depending on what you're getting.

The takeaway? Your budget is important and you should always know where your dollars are going. The last thing you want is to find the ideal space only to find out it's too expensive. Make sure to plan wisely and get ready to make the most of your hard-earned dollars in your new office haven!

6. Amenities Around Office Space

Now let's talk about the cool stuff around your office space. Think about it: when lunchtime hunger strikes, having a bunch of food joints around is a blessing. It's ideal to have coffee shops nearby for that mid-morning caffeine fix. Plus, having a gym nearby for that post-work workout will make it easier to stay motivated.

"Great things are done by a series of small things brought together." – Vincent van Gogh

Proximity to these spots isn't just about convenience; it's about creating a well-rounded workspace experience. Your team will love the options to unwind, grab a bite, or hit the treadmill after those intense brainstorming sessions.

When you're in the process of scouting for the perfect office space for your small business, don't just look at the four walls – think about the proximity to other desirable locations. Whether it's your first office space or you're looking for the next option for your company, it's the little things that can make a big difference in making your office feel like home.

7. Check the Availability of Parking

Practicalities like parking are another important consideration. The last thing you want is for you and your team to circle the block time and time again searching for a parking spot. Before you sign any dotted lines, check if the office space comes with enough parking spots for your team and even a few extra for those random visitors.

Don't let the lack of parking become a daily stressor. A smooth start to the workday includes everyone rolling in with ease, not looking for parking. Whether it's a designated lot or street parking nearby, having parking options can make your office space feel like a comfy home base that welcomes everyone without the hassle.

8. Think About the Accessibility of Public Transport

Time to talk about convenience. Public transport accessibility is a must for small businesses.

Check if the office is near buses, trains, or trams. Easy commuting means your team arrives fresh and ready to take on the day.

And let's not forget about clients – they'll appreciate easy access, too. A location that's a breeze to reach not only makes your business look good but also keeps stress levels low. It's a win-win for everyone involved.

So, when scouting for the perfect office space, keep the public transport dance in mind – your team and clients will thank you!

9. Observe Possible Business Growth

When sizing up your office space, put on your prediction glasses. Think about where your business is heading. Are you on the growth rocket? If so, don't just pick a space that's barely fitting now. Consider your expansion plans. How many desks will you need? Will you be hiring more team members soon?

Scaling up doesn't mean renting the entire building, though. It's about balancing ambition with reality. Choose a space that gives your business room to stretch without being a financial black hole.

Maybe it's time for that small space to become a bit more spacious. When your business starts growing, your office should grow with it.

10. Check Lease Terms and Conditions

Read it like you're diving into the latest episode of your favorite show. Look out for lease duration, renewal options, and rent increases. A short-term lease might work if you're not ready to commit to forever. But if you're in it for the long haul, a longer lease could lock in your space for years.

Don't forget the hidden gems – who's responsible for repairs? Can you decorate your space to match your brand's identity? And be sure to read that fine print about getting out of the lease early if needed. Understand the guidelines so there are no surprises down the road.

11. Check Handicap Accessibility

Does the office complex meet ADA standards, and is it accessible? Make sure it adheres to handicap regulations and has the correct ratio of bathroom facilities. Emergency exits and fire escapes should remain unobstructed at all times, and normal entrances and exits must be easily accessible. Having an accessible office space makes a huge difference for people with limited mobility or visual or hearing impairments and benefits everyone.

12. Learn About Building Security

Your small business deserves a space where you can lock up at night without worrying. When checking out potential office spaces, look into the building's security measures. Ask about access controls, security personnel, and surveillance systems. You want a place where you can confidently leave your work behind, knowing it's in good hands.

Plus, don't forget about your team's peace of mind. A secure environment doesn't just protect your assets; it fosters a sense of trust and well-being among your crew. When they're not fretting about safety, they can focus on what they do best – contributing to your business's success.

Conclusion

There’s a lot to consider, but our team at 620 N Lasalle hopes this brief guide on how to find office space for small businesses has been helpful. If you have a small business and want to rent an office, it might be worth your while to take a look at our small office spaces in River North, Chicago. For more information, contact us today.