7 things for startups to consider before they open their first office

Opening your first office is a landmark occasion. Many entrepreneurs consider it a pivotal moment of growth when their ideas become a reality. Establishing yourself in an office space isn’t easy, though, and it can be costly. Here are some things to consider before taking your next steps.

Is now the time?

Moving into an office is a big commitment both in terms of money and emotional investment. Determining whether this is the right time is complex. If your company can no longer physically operate without an office or you need to hire more staff to meet customer demand, then the time for expansion has likely arrived. Along similar lines, if you find that you can’t conduct meetings with clients virtually or that your workforce is spread but needs to communicate in person, an office is the right decision to make. Company profits play their part, too, so if you’re exceeding growth forecasts every quarter, then you’re likely in a favourable position.

Can you hire instead?

That said, hiring an office temporarily is sometimes a better solution. Not only does it allow you to evaluate your needs, but the lesser commitment means that you can always reverse your decision if you need to. Renting an office space in Cardiff represents a substantially smaller financial commitment than moving into one full-time. You’ll quickly learn whether the office is essential or not and be able to make a more informed decision on whether to stay.

Think about the location

There is no one ideal location for an office. This depends entirely on what type of business you’re running and its own unique needs. For example, if you work in retail and shipping, you’ll need to be near good road links. Similarly, if your business primarily sells on the high street, an area with lots of footfall will be necessary. Consider whether clients will frequently need to come into the office, but also how easy it is for your employees to commute there. An office that’s hard to get to and off the beaten track might mean a long commute and a demoralised workforce.

Watch out for hidden costs

Hidden costs are everywhere when you move into a new office for the first time. Contracts, any repairs, and even moving fees all apply and should be factored into your calculations. A quick note about energy and water tariffs. When you move into new premises you’ll be automatically enrolled on the same contracts as the people before you, which are usually more expensive. Run a of business energy rates, and you’ll likely find a much cheaper deal that better suits your needs.