A lot of startups are shying away from renting office space these days and it could be hurting their business. It’s obvious every single new startup doesn’t need their own office, but we’re going to look at some of the advantages you’ll gain by renting one and you can decide if it’s something you’d be interested in.
Inviting people for meetings
Startups will have to meet up with people on a regular basis for a number of different reasons. You can’t just take everyone to the coffee shop because in the business world it can sometimes look unprofessional. If you only need to talk to someone for 30 minutes you can’t take them out for dinner at a fancy restaurant. You need a proper meeting room where you can speak with someone in peace and quiet, so by renting your own office space you’ll be able to do that easily.
Work very closely with each other
Working remotely has been gaining a lot of traction recently, but it isn’t always the best idea when your team already live in the same city. For a start, you have no idea if your employees will actually be working or if they’ll be spending all day on Facebook instead. When everyone works in the same office you will know what people are doing at all times and because everyone is working closely together you’ll find you get a lot more stuff done each day, which is the key to growing your business.
Don’t get in their way
The complete opposite of working remotely is stuffing a bunch of people into the same room, which usually ends up being the basement of the founder’s home. This option will still give you the added benefit of working closely together with your team, but when everyone is squashed together it’s just as easy to kill productivity. By renting a proper office space you’ll all be together and everyone will have enough room so they don’t feel like a sardine stuck in a small tin.
Leasing office equipment
Depending on the type of startup you’re building you might need to lease office equipment. If everyone is working on their own the entire team will all need to rent the equipment individually and by the time you add it all up the money you’d be spending would probably pay for your office space anyway. If we look at the opposite situation where everyone is stuck in the same small room there just wouldn’t be enough space to keep everything unless you wanted to jump over it every 5 minutes.
You can get a good deal
When you think of renting office space you automatically assume it will cost you a huge amount of money each month, but if you do your homework and look around it’s not hard to find great deals. You might even be able to sublet office space from bigger companies who have plenty of room available, or you could hook up with other startups in the same city to rent space together. Unless you simply don’t have any money available it’s definitely something to look into.