The office you choose impacts your employees’ wellbeing, their ability to collaborate, and their overall productivity. So, it’s not a decision to make lightly. You want to find the best possible option to help your growing team focus and feel comfortable.
Also, when you run a startup, you ideally want to find a workplace offering good value for money, as every penny counts in a new business’s earlier stages.
To make the process a little easier, here’s a guide to the different available options and the considerations business leaders should make when choosing a startup workplace.
Before you start your search, it’s important to understand the different types of office space available on the market. Each comes with different features suited to different styles of working.
Coworking offices are typically open-plan and communal, meaning you share the space with many other entrepreneurs, freelancers, and small businesses. You can either turn up on the day or reserve desks or meeting rooms in advance online.
See also: How much office space does my business need?
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See also: How to choose a small office space in London
These are a flexible option if you have a small team that doesn’t meet in person frequently as you can usually rent desks by the hour or day. Bear in mind that this option often doesn’t come with certain equipment, such as monitors or keyboards.
Private office spaces are what people traditionally expect when renting an office. They’re empty, unfurnished rooms within corporate buildings that you’ll need to fill yourself. That means sourcing your own desks, chairs, monitors, whiteboards, storage units, and whatever else your business needs.
The whole office will be for your company’s use only, and it may include a private bathroom and kitchen. Multiple businesses often reside within the same building, but depending on its size, you might have the whole building to yourself.
The key benefit to this option is the ability to customise it completely to your liking, from the wall colours to the lighting to the office layout. It will be completely your own and you have the flexibility to use it as you wish, but this of course comes with the burden of designing and maintaining the space. It also makes it the most expensive option.
This is a self-contained office space, fully furnished with everything you need ready to go. Serviced offices typically come with reception, cleaning staff, and IT support on-site, so you don’t have to spend any time or money getting the basics set up yourself.
You’ll typically find several serviced offices under one roof, ranging from small sizes with three or four desks, to large ones that span an entire floor.
These spaces are move-in-ready, meaning they’re already decorated and set up with desks, chairs, monitors, and Wi-Fi. You’ll get your own dedicated private space, so your business won’t be within earshot of other companies, like in a coworking space.
Bathrooms, kitchens, and additional meeting rooms will be available outside your private space and typically shared with the building’s other tenants. So, when you’re thinking about how much space you’ll need, you only need to think about how many desks you need.
This option offers all the benefits of having an office without the physical office itself. That means you can have the prestige of a London business address without having to rent a workspace.
So, remote businesses that only want a London address on paper may prefer this option. They’ll typically also handle any incoming mail on your behalf.
It’s complicated to determine how much of your startup’s revenue or funding you want to dedicate to an office space in the business’s early stages. A good rule of thumb is to keep office expenses under 10-15% of your overall operating budget. Just be mindful of the startup’s financial forecasts over the coming year to check this is sustainable.
Don’t forget to factor in both upfront and recurring costs. Upfront expenses include deposits, furniture, and setup costs for Wi-Fi and utilities, while recurring costs cover rent, maintenance fees, and any service charges. Flexible options like coworking spaces or serviced offices often include utilities and maintenance for a single fee, making budgeting simpler and more predictable.
As a startup, you should also consider scalability and future growth. While it may seem tempting to opt for a small, low-cost space to save money, think about whether the office can accommodate additional staff or equipment as your business grows. Look for spaces that offer flexible leases that you can adjust as your needs evolve.
The common benchmark to calculate how much space you need is to allow between 50 and 100 square feet per employee. This will give your team a spacious and comfortable work area in an open-plan layout. If you want your staff to have private offices or cubicles, you may need to allocate up to 200 square feet per employee to maintain privacy and avoid overcrowding.
For example, if you currently have 10 employees who will be working from the office most days, you’ll need between 500 and 1,000 square feet of space for an open-plan setup or around 2,000 square feet if you provide private offices.
If your staff work on more of a hybrid schedule, you may be able to spread out the days each employee comes in to reduce your space requirements. These guidelines do not include spaces like kitchens, bathrooms, and meeting rooms.
It’s also a good rule of thumb to allow some extra square footage for new hires. Depending on how quickly you plan to scale up, this could mean reserving space for an additional 10% to 30% of your current headcount.
If you’re unsure about how fast your company will grow, it may be best to look for flexible office space solutions like coworking spaces and serviced offices. These offer flexible leases so you can adjust the size of your office as your team grows. Find out more in our guide on how much office space your business needs.
It’s likely you already know which town or city will make the best home for your startup. Knowing how far your team will be travelling to work will help you narrow down your search to find the best commutable option to encourage their presence in the office.
As London is home to many of the world’s most successful startups, you may have focused your search there. But the capital is a large area to cover. Do your research on each distinct neighbourhood and how they cater to different budgets and types of industries.
Here’s a look at the cost of office space in various locations around London to help inform your search.
Public transport links are also a serious consideration. Offices near major transport hubs (like King’s Cross, Liverpool Street, and Victoria) tend to be more expensive, but they’re convenient for your employees and visitors. Find out more about London locations and how to choose an office space in London in our guide.
Tied to location is the reputation of your startup workspace, which plays a part in shaping how your business is perceived. Your office should reflect your startup's professionalism, credibility, and ambition. Using a home address or inviting clients to your living space can undermine this image, making your business appear less established.
Similarly, an address in a less prominent area might fail to inspire confidence in your brand. A cool and recognisable office location, on the other hand, can serve as a powerful tool to demonstrate your business's authority and position in the market.
Being based in a well-known business district or a sought-after postcode can give your startup an immediate sense of legitimacy. Clients and partners often associate certain locations with professionalism and success, making them more likely to take your business seriously.
This doesn't mean you need the most expensive office in the city, but selecting a location with a good reputation can make all the difference in creating a positive first impression.
The interior design of an office says a lot about a brand. Presenting the right image is especially important if you frequently host meetings with clients, investors, or partners.
When you go on office tours, imagine how the space will look through the eyes of your team and visitors. For example, if you run a tech business, a sleek, modern office with high-spec facilities might be more appropriate than something more old-fashioned. Or if you work in a creative industry or use agile working practices, consider whether the space could inspire that kind of thinking.
If the current design doesn’t completely align with your vision, ask if you can personalise your office space. Some serviced offices offer flexibility in terms of decor, furniture arrangements, and branding customisations. This can help ensure the space feels like it’s yours.
There are different levels of quality to office kitchens, bathrooms, meeting rooms, audio and screen equipment, outdoor spaces, and more. What you choose will depend on your team’s needs and your budget.
You may also want to consider any added perks that make each office unique. These might seem minor in your decision-making process, but they can help keep your team motivated and happy.
For example, tea, coffee, fruit bowls, and other refreshments. In some serviced offices, you might find perks like a barista station, an in-house café, or a rooftop terrace where employees can enjoy fresh air during the workday. You may even find a dedicated wellbeing room for breastfeeding, or a multifaith prayer room.
These amenities can even become a talking point when recruiting new talent. Offering a workspace that goes beyond the basics shows that you care about your employees' comfort and satisfaction.
The people you’ll work alongside play a big role in a startup office’s overall atmosphere. So, pay attention to any reception, security or cleaning staff within an office building. Welcoming, professional people make an office a more pleasant place to be for everyone involved.
This is especially important if you share the space with other entrepreneurs and businesses. Some office buildings come with a sense of community.
Check for networking events or shared common areas where tenants from different businesses can connect. A positive, engaged office environment can lead to more connections and business relationships later down the line.
Renting a workspace is a significant step in any business. By taking the time to research which office suits your startup’s needs carefully, you have the best chance of boosting your team’s productivity, attracting top talent and providing a professional environment for your growing startup.
Looking for an office that has it all? Look no further than 71-75. We have over 30 pet-friendly serviced offices with ergonomic furniture, all-inclusive fees, supercharged connectivity, equipped meeting rooms, and a brand-new rooftop terrace.
You’ll also be working in the bustling Covent Garden, with plenty of iconic attractions nearby, countless restaurants and local cafes, and excellent transport links.
Book a tour of your new and exciting workspace today or call our friendly team on 020 3184 8770.
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