Many business owners and professionals across India find renting shared office space more cost-effective than leasing traditional office space.
When you are trying to pick the right office space for your business, it is important to do a lot of research. You need to think about expenses, the culture of the office, what benefits it provides, how people will work there, and more. Sometimes people make mistakes when they pick their next office space.
So what are the most common mistakes when people choose their own office space?
1. Not adding up the unexpected costs
Even if you find a low-cost private lease, there will still be some extra costs to get the space ready for your team to use.
Designing, furnishing, and establishing your new office space can be expensive from the start.
When you lease a commercial space, there are a lot of extra costs that you might not expect. These can include things like setting up data and IT systems, construction costs, furniture, fixtures, equipment, utility connection fees, and soft costs (such as design and fees).
A flexible office space like Workshala means that you only have to pay one price that covers all expenses, like electricity and repairs. This is good because you will not be surprised by extra costs that you did not plan for.
All of these benefits together can save businesses a lot of money over the term of a lease, which makes the decision to lease even easier.
2. Not considering your team’s workstyles
An ideal workspace is as adaptable and flexible as your team. The best workplaces are ones that can change to fit the needs of the team. With a normal week including things like meetings, phone calls, and brainstorming sessions, it’s important to have a workspace that offers different areas for your team to work effectively.
Flexible workspaces have a lot of advantages. Spaces such as Workshala offer many different types of spaces, like meeting rooms, breakout spaces, and more. This helps every member find the right environment for the task at hand.
3. Not choosing an office in the best location
The location of a business headquarters can have a big impact on its success.
There are several advantages to positioning yourself in a central business district, such as being able to get around easily for team members, increased visibility for your brand, opportunities to network with clients, and potential partnerships.
Employees want to be able to use public transportation, and also want cafés, shopping, and places to exercise nearby.
A centrally located space makes it easier for your team to get to and from the office, and gives them more freedom to live in any direction of the city. They’ll also be able to enjoy the benefits of being located in the Central Business District.
4. Not looking into available amenities and benefits
Coworking spaces offer the same benefits as working in a large company, including access to amenities. For example, Workshala offers access to conference rooms, break-out areas, event spaces, and many more.
5. Locking yourself into an inflexible lease
The days of being able to predict that you will have a 5 to 10-year lease (including paying for fit out and make-good) are gone.
Entering into shorter-term agreements at coworking spaces lowers the amount of risk for your business, while also making it easier to scale up if necessary.
If you choose a workspace that is flexible, you can move to a bigger space when you need it. You can also change locations if you want. Having a flexible agreement means that you can plan for the future and make changes as needed.