Deciding on how much office space to buy or rent is an important decision for any business. To help you in that process, this article provides several tips to keep in mind.
Choosing a Style
Office space comes on a spectrum between two extremes: open spaces featuring shared work areas and traditional layouts, which tend to feature private offices, support rooms, and conference areas. Many office layouts feature traits of both. When deciding on the style you’d like, keep these questions in mind:
- Will my business need private areas to meet with clients?
- Will my workers thrive in collaboration or prefer more isolation?
- Will different departments or specialized workers need different types of work areas?
Businesses that place a high value on private meetings or have employees who typically work solo may trend toward the traditional layout, while businesses that thrive on collaboration may trend toward open layouts.
Choosing Square Footage
Square footage is another important factor when it comes to choosing an office space. For instance, if your company takes up less room, you may be able to sign a cheaper lease, according to the Commercial Real Estate Development Association. To get an idea of how much you’ll need, here are some ballpark estimates of how much space each type of employee or room requires:
- Employees with offices: 150 to 400 square feet per employee.
- Cubicle-based employees: 125 to 175 square feet per employee.
- Employees in open areas: 100 to 125 square feet per employee.
- Storage, file rooms, and libraries: 200 square feet per room.
The square footage needed for areas such as conference and waiting rooms will vary depending on how many people each room needs to serve at a time.
Using Your Budget
Before locking in on any specific properties, ask your real estate agent about prices per square foot. Once you know how much space you’ll be able to afford, many of your decisions may become easier as you hone in on what’s truly important for your space.
For more information on the business world, take a look at Grecco Capital’s other blog posts.