8 Tips for Growing Startups to Find Office Space

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(Young entrepreneur in new office space.)

BY YOUNG ENTREPRENEUR COUNCIL

Entrepreneurial Q & A: What is your top tip for finding office space when your company has outgrown its current location?

A: Talk to your property manager. “If you’re currently renting a space, have an open conversation with your property manager. Often they will have something available that they are already managing, and will cut you some slack on your lease terms if you continue renting with their company. We’ve moved spaces three times in the past six years with the same property manager, and they let us keep our existing lease terms.” Cassie Petrey, Crowd Surf

Consider co-working. “Consider moving your team, big or small, to a co-working office that caters to your work culture. Co-working spaces are a win-win situation. You still have the privacy of an office, as well as exposure to a community of like-minded individuals — built-in networking!” Rakia Reynolds, Skai Blue Media

Get creative. “When we outgrew our office space for the second time, we looked for the new place only to realize we had a treasure in our own backyard. An empty warehouse was transformed into a new modern space that our employees love. We added an employee lounge, open office plans and many meeting rooms. We are now an integral part of our company.” Elliot Bohm, Cardcash.com

Ask yourself if it’s necessary. “Do you need the new office? In this day and age, you should ask yourself if you actually require more space, or if it’s time to stretch your wings and go remote. It isn’t always important to have every member of your team in house. Further, it can actually help with creativity and growth if you offer employees who can easily manage themselves the ability to work from home.” Blair Thomas, eMerchantBroker

Find a recently vacated location. “After a year on a waiting list, my co-founder and I were accepted into the startup incubator at the university and grew the company to a full-time staff of 15. It became clear we outgrew the incubator, so we looked for office space downtown. We found a freshly renovated office by a large telco who never moved in and wanted to terminate their lease. It saved us $250,000 in leasehold improvements.” David Ciccarelli, Voices.com

Prioritize company culture. “My company, Saxbys Coffee, just moved from the suburbs to Philadelphia. Our goal was to find a space with a location and vibe that bolstered our company culture. It’s essential to be in a city for both the accessibility and the community. My team has a simpler commute, which attracts new members too. And now we’re part of the fabric of Philly and locked into the growing business community here.” Nick Bayer, Saxbys

Seek out news about large company moves. “Look for news articles in your area about large companies who have moved out of their office space. Then contact those buildings. We moved into a space that the U.S. Navy had recently vacated. The building had a big void they were looking to fill and so we were able to negotiate an amazing deal.” Douglas Baldasare, ChargeItSpot

Check Craigslist. “With so many tech companies riddled with debt, it is surprising that more organizations don’t focus on running lean businesses. Renting a high-cost office space and signing a long-term contract for the space can spell disaster for a company down the road. Utilizing a platform like Craigslist, which can eliminate the middle-man, can help companies find cheaper spaces and more flexible contracts.” Robert Lee, Circa Interactive Inc

(SOURCE: TCA)