Moving offices can be a huge adjustment for you and your company--and if you will be getting your own private office space after starting out in a coworking space, you really need to consider how the move will affect your overhead and team morale. That’s why we asked nine entrepreneurs from Young Entrepreneur Council (YEC) the following question:
Q. What's one thing I need to do or consider when moving my company from a coworking space to a private office?
1. Your Team Members
Confirm that it's something team members really want. Right now we're a mainly remote company with two dedicated desks at a San Francisco WeWork; local remote team members drop in every so often to cowork in person. And instead of team off-sites, I fly people in quarterly for team on-sites. By staying remote, we can work with some of the best people around the country. Right now I have team members in at least a half dozen geographies. –Heather McGough, Lean Startup Company
2. The New Commute
When making a big decision like this, we often don't consider questions like: How will this affect my commute to work? Will I have to leave home an extra hour early to make it in on time? Am I making enough to warrant the increased roundtrip and likely trek through both rush hours? These are all questions that may not be on your mind but will undoubtedly be on your employees' minds. –Travis Smith, V.I.P. Waste Services, LLC
3. Length of Term
If you sign a five-year lease in your thirteenth month of business, be cautious of locking yourself into a position that you may not be able to fulfill later on. Consider revenue track record and trajectory, and negotiate the heck out of that lease. –Blake Miller, Think Big Partners
4. Culture
With a coworking space, you don't really need to worry about the culture because the space does that for you. But in a private office you need to invest in the culture (e.g., the art, lounges, food) and everything related to the office space. You want to check how much you can invest in that before moving as it's very important for team morale. –Ben Lang, Mapme
5. The Fine Print
It's important to know what you're getting into when signing a commercial lease. If you have primarily been working with coworking spaces that have very flexible guidelines regarding rent termination, maintenance, and even on-premise pets, the move to a more traditional space can be jarring. Make sure you are clear on your lease terms (think growth!), rent amount, obligations, and dos/don'ts. –David Ehrenberg, Early Growth Financial Services
6. Losing Out on 'Global Mobility'
Coworking companies such as WeWork and Regus have global networks of offices with memberships that can accommodate "hopping" from one space to another. When moving to a private office, you might be sacrificing this sort of mobility. Consider whether your company would benefit from a single location that customers come to or multiple locations closer to your customers. –Ross Beyeler, Growth Spark
7. Utilities, Maintenance, and In-Office Resources
We underestimated the overall cost of monthly utilities and recurring office cleaning costs. Be sure to weigh in the costs of all utilities, electricity, heating/AC, Internet, TV, and phone. We're paying a total of $400 per month more than we anticipated. The cleaning services are another unexpected expense. We have to pay $100 per month for cleaning, which we had thought we would be doing ourselves. –Reuben Yonatan, GetVoIP
8. Optimal Noise Levels
Transitioning to a private office may leave your team working in an environment where the silence is deafening. There are optimal noise decibel levels that contribute to a more creative and productive environment. Moving to a private office may require supplemental sources of noise to help spur creativity and productivity. Sources such as music, water features, or other background noise may help. – Christophor Jurin, Construct-Ed, Inc.
9. The Costs
Moving to a private office is a major step, but it is important to consider all financial implications. While operating in a coworking space, many overhead costs are included. These costs, which go beyond your office lease, need to be taken into factor. Remember that furniture, maintenance, equipment, utilities, the Internet, and your fridge (including everything in it) will now hit your bottom line. –Alex Lorton, Cater2.me
