Setting up an office boosts focus, collaboration, brand credibility, and attracts talent, clients, and potential investors.
Finding budget-friendly office space in India is tough. From location to lease terms, entrepreneurs face many challenges—but solutions exist for each.
6 common office-related problems faced by entrepreneurs and their solutions
- Choosing the Right Type of Office
- Finding the Right Location
- Assessing Rents and Costs
- Dealing with Lease Terms
- Furnishing and Maintaining the Office Space
- Choosing the Right Layout
1. Choosing the Right Type of Office
Finding the right type of office is more challenging than it appears. Not everyone can work from garages; not every business needs a dedicated and spacious private office either. When it comes to office space for entrepreneurs, there are no one-size-fits-all solutions – each company has its unique requirements, preferences, and limitations.
The key here is to choose an office that suits the size, maturity, and future plans of your company. While coworking office spaces are ideal for start-ups, evolving brands, and even large corporates with a distributed workforce, managed offices are a good choice for mature companies looking for a dedicated workspace that reflects their brand identity.
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2. Finding the Right Location
Identifying the right location is another challenge entrepreneurs face while hunting for an office. A centrally-located office with access to all parts of the city helps boost your business and brand visibility. However, commercial properties in prime localities are often exorbitantly priced, and hence unaffordable for entrepreneurs.
Shared offices are an ideal solution for entrepreneurs who want to set up their offices in a CBD or business park without breaking the bank. All reputed coworking operators have offices in prime business localities – you can choose a plan that best suits you. You can also opt for neighborhood coworking, where you can distribute your team over multiple locations.
3. Assessing Rents and Costs
Traditional office spaces come with hefty monthly rents and other costs – even established corporates spend up to 12% of their operational costs on real estate requirements, say surveys. For entrepreneurs running SMEs, it could go higher. In addition to monthly rents, you must also factor in security deposits, monthly maintenance charges, value-added services, utility bills, and the like.
Coworking serves as an excellent office space solution for entrepreneurs in this regard. Monthly rents and security deposits of coworking office spaces are lower than traditional offices, and there are no hidden charges either. According to studies, coworking helps business owners in major Indian cities can save up to 25% of their operational costs.
4. Dealing with Lease Terms
Entrepreneurs who are in the early stages of establishing their business don’t often have fixed requirements or plans – what they need is the flexibility to scale up or scale down. Choosing an office space for entrepreneurs with long-term leases and commitments can come in the way of flexibility.
Coworking is a great choice for entrepreneurs because of the flexibility it offers on all fronts. For starters, the lease term and notice period of shared offices are shorter than traditional offices. There is no lock-in period, which means you can exit the office or switch to other plans without hassles. Moreover, you can choose the number of desks as per your requirement and add or remove desks as you expand or downsize your team.
5. Furnishing and Maintaining the Office Space
Furnishing and maintenance are two common concerns of entrepreneurs looking for an office. You might get an unfurnished office at a lower rent, but you will end up spending a lot on furnishing the office. Likewise, maintaining the office can be a task that consumes your time, energy, and money.
Here again, coworking offices serve as the best type of office space for entrepreneurs. Shared offices are pre-furnished with ergonomic workstations, office accessories, office furniture, and all other amenities. All office-related maintenance activities are carried out by the service provider, so you can steer clear of such worries.
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6. Choosing the Right Layout
Choosing an office with the right design and layout can prove to be a challenge for entrepreneurs. To begin with, the workspace you choose must enhance the productivity and agility of your team. Ease of collaboration and networking is also a top priority, especially if you are a start-up or solopreneur.
Traditional offices with enclosed cubicles and partitions have had their day – now is the time of agile offices that combine common and private areas. The open floor design of a coworking space is ideal for entrepreneurs as it offers a dynamic, collaborative, and flexible work environment. At the same time, it comes with private nooks, quiet corners, meeting rooms, and other zones and areas – you can choose an area depending on the nature and intensity of your work.
Our Two Cents
Setting up an office might look like a challenge, but you can easily fix it with the right office space solution. For entrepreneurs who want a cost-effective office that offers the benefits of location, flexibility, agility, productivity, and ease of collaboration, there’s no better solution than a coworking office.
Want to know more about how shared offices can help ease your office woes? Contact The Office Pass (TOP)Â to book affordable coworking spaces in Gurgaon, Noida and South Delhi today at 8999 828282.
