5 Things to Consider Before Renting Office Space in NYC

Written by Don Seckler on January 26, 2016 in Blog

5 Things to Consider Before Renting Office Space in NYCNew York City is the perfect place for small business owners to grow and expand their name. The city offers many professional and stylish office sites for startup executives to choose from along with the advantage of a vast network of businesses. Many new companies flock to the hustle and bustle of the Big Apple with hopes of transforming their business into a successful enterprise built on prestige and hard work.

However, there are a few things to consider before making this great business move to the city:

  • What Kind of Office Space Do You Really Need?
    You need to first think about the size and needs of your business. If you have a handful of employees then maybe the large office isn’t necessary. However, if you know you will need more space in the future, think about flexible office space options like business centers, full-time spaces, shared space, or coworking spaces. Then consider the length of their leases. Fortunately, business centers provide the flexibility newer companies need without locking them into a long lease.
  • Budget
    One of the most important things to think about before renting is how much money your company can spend. Only get an office space that suits your size and budget, otherwise you could be spending more money on space you don’t need. Then consider what is included in the rent. Business centers, shared office spaces, and coworking spaces offer fully furnished options with extras like IT support, receptionists, kitchens, and mailing services. Plus, these office spaces are less expensive without the hassles of layout and design of an empty space.
  • Compare
    Don’t be afraid to shop around for office spaces. It’s a smart move to compare office spaces in New York City. Think about prices and what they include. Then consider surrounding businesses, especially if they’re similar to yours which could help networking but also drive competition. Also think about where pools of potential employees are located and the likelihood of attracting them.
  • Appearance is Everything
    The face of your office reflects your business to clients. If you’re housed in a dilapidated building, potential clients might suspect business is slow. On the other hand, if your company resides in an extremely lavish building, clients might think you spend too much. Once inside your office, both clients and employees should feel comfortable with your abilities as a professional. Your office should be professional yet stylish without feeling sterile and cold. Also, an office space needs to be organized in a way that employees can sustain creativity and productivity which helps expand businesses.
  • Location
    With so many great locations in New York City, it’s easy to become overwhelmed when choosing the right spot for your office space. Investigate the surrounding area for restaurants, coffee shops, and banks. Employees would benefit from different food choices within walking distance. Being near banks would also be useful for monetary transactions that could arise. Another point to consider is the accessibility of your building for both employees and clients. While public transportation should be easy to access, parking and bike racks are optimal as well. If employees and clients can travel to your office without much difficulty, your business will solidify itself and maintain reliability.

Finding and renting an office space in New York City can be difficult but the rewards are endless. Your business will have the advantage of showcasing a prestigious address that will leave a lasting impression on clients. Making sure you know what your business needs ahead of time can ensure the perfect office space.

Click here to see available premiere furnished office space in Manhattan. 

View Virgo Business Centers 5 Midtown Manhattan locations: Midtown, Midtown East, Grand Central Terminal, Empire State Building and Penn Station.