Whether you lease or buy real estate, once you find a location for your business, you’re probably going to be locked in for a few years. It’s not like you can simply up and move every year. You have to think about how much office space you currently need and can afford while keeping in mind growth over the next few years. How much office space do you need?
Average Space Requirements
CEOs, managers, and VPs will probably need private offices, no matter what type of office style you have. Plan at least 150 square feet for managers, 200 sq. ft. for VPs and 400 sq. ft. for presidents and CEOs. Cubicles for other employees range from 125 to 175 sq. ft. Clerks and temps can usually get by with 100 sq. ft. You need to calculate the number of employees you have and determine how many square feet you need.
Once you know how much space you need for employees to work, consider permanent rooms and spaces that you might need. You should have some storage space, at least 200 square feet. Do you need a break room, a conference room, storage for servers? Will you want a reception area? Do you want space for a library, a mailroom, or files?
Real Estate May Make Choices For You
If you’re in Manhattan, your office may be much different than if you were Austin. The price per square foot for office space in New York is significantly higher than in Texas. Your industry may even play a part in your space needs. Legal firms require privacy, so an open floor plan wouldn’t work as well. Sometimes, it’s easier to get more space than you need rather than outgrowing your space and having to move.
Commercial Capital Partners offers funding options to take your business to the next level. Contact us today for more information.