If you are starting off a new business, your budget is extremely important. Choosing an office with a very high rent will have a major effect on the overhead costs. It is advisable to keep the rent low and compromise on location and floor area.
The location of your office should be determined taking into account the following considerations
- Your budget
- Proximity to your client base
- Availability of work force
- Easy accessibility
- Adequate parking space
Delhi is becoming more and more crowded and office rents are sky high in the city proper. So a judicious choice will be going for spaces in Noida, Gurgaon or Faridabad, in the outskirts. These places are getting better connected by the day so commuting will not be a problem. Moreover, you can avoid traffic congestion. There are more open spaces for parking and rents are lower than that of Delhi proper.
Real estate agents
These professionals are the best suited to get you the right space for your office. They can be individual brokers or employees of a real estate agency. Although the individual brokers may not be licensed or authorised, they are probably among the most well versed in available spaces in a particular locality.
Inspecting the property
It is important to inspect many properties before you narrow down your search. Ensure that the rented property has a commercial license since it is illegal to carry out business operations on residential property. Once you have gone on inspection, find out about the following amenities
- Drinking water
- 24 hours power backup
- Availability of lunch or snacks in the locality
- Ventilation and light
Fixing the rent
In a place like Delhi, rent can often be negotiated. If your real estate agent is a good one, he can often do the negotiations for you. Often, rent is fixed on the basis of the floor area of the rented space. Try to measure the effective floor area and ascertain how much of it can be used effectively. If much of it is used up in corridors or balconies, then you are losing on valuable floor space and may think of reconsidering your decision.
If nothing is working for you, space sharing can be a good option. You may look for offices that have excess office space and are willing to lease it out. This will help you in sharing a few overhead costs like electricity, apart from the rent.
A good office is your basic investment for getting your business rolling. So work out all suitable options and make a judicious decision, even if that takes some time.