From Kitchen Table to Office

Need an Office? Here are 5 things to consider:

1.    Term of the Lease: This first office lease will probably be one of the bigger commitments and liabilities of your business. Make sure the lease term is flexible and is within your budget based on current cash flow not future projections. Most small businesses start with a one-to-two-year lease, although in this economy, month-to-month lease may be more readily available.

2.    Location, Location, Location: The location of your first office is a balance of price and quality of life. Focus on a location convenient for employees (or future employees) and one that is priced right. Commute times can have a drastic effect on your employees' quality of life and should be taken into consideration. Consider your safety. Have there been break-ins in the neighborhood recently? Would an employee feel comfortable working in the building alone, or walking to their car or public transportation after dark? All of these issues should be considered when considering your first office.

3.    Amenities: What restaurants, coffee shops and other businesses are available nearby that will make your employees' lives more comfortable?

4.    Expansion or Reduction of Space: If things go well, you will be thinking about business expansion and you don’t want your space or your lease to hold you back. It's important to have a conversation with the owner about how much expansion space is available and an option to break your lease if it’s not available. If business is not going well, it is important to have an option to sublease your space or to buy out of the lease obligation.

5.    Parking/Public Transit: Transportation and parking are two of the most pressing issues for many communities. The proximity to public transportation and affordable and convenient parking are extremely important. The more transportation options the better.

For more information on leasing office space see the Advice section on www.rofo.com

Last updated: 04.29.2009 04:49 PM

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