Counting the Cost of Your Office Space Choices
Budgeting for office space in Office Evolution Summit isn’t always intuitive. Many companies use a general rule of 100-150 square feet per employee and work backward, but that isn’t always the best rule to use. In addition to the size of the space, things like layout, amenities, and share areas should also be factored into your decision.
When you’re determining how much you’re paying for an office, it’s important to consider more than just the rent. Taking into account the price you pay per square foot, in terms of both usable and rentable space, is a good start. You also need to consider how much you’ll need to spend to get your office ready for business, as well as how much your landlord is charging you for maintenance, taxes, and other expenses.
Many companies have found it more financially favorable to use a coworking space instead of a traditional office because of the costs involved. Rather than negotiating lease terms, paying for more space than you need, and having to spend thousands of dollars on renovations and furniture, you pay a flat fee that’s a fraction of the cost of what you’d expect to pay with a traditional office.
Here’s how you can do a quick cost analysis for yourself and see how the numbers stack up. Read more.