However humble the start of a company may be, the hope always exists that it will grow and require a bigger and better working location. Finding a new Plano office space can be hard for two reasons: a need to minimize expenses while finding a perfect location for aggressive business growth and an area must be comfortable and attractive to keep the skills and talents of current employees that are needed to sustain growth and productivity.
Looking for a good workplace depends on the current size and future growth goals of a company. A search for the best workplace can be challenging to both novices and experts as this task is not a part of the daily course of business. Knowing the various options available as well as any advantages and disadvantages can help in this process.
Shared Space
Sharing a workplace with another organization is an ideal set-up for a beginning company and highly efficient for those with twelve employees or less as it allows for individuals or small groups to work in a certain dedicated area. It is not a suitable option for larger numbers of employees because the value of co-working spaces becomes more expensive per square foot in comparison to an entire office lease.
- Advantages – This situation offers an energetic and positive atmosphere with tenants enjoying a fully-furnished technical infrastructure. Employees will have the benefit of mindsharing with individuals from the other organization. It offers flexibility in the amount of committed leasing time as it can be chosen to stay for a month or even just a few days.
- Disadvantages – As a business begins to expand, rent can become expensive. Customization is seldom allowed and privacy may be an issue since everyone shares one space.
Subleasing
Subleasing is somewhat similar to sharing an area; however, in this type of situation a business is allowed to rent one or more rooms, enjoying shared areas such as meeting rooms, bathrooms, lunchrooms, etc.
- Advantages – There is a reduced rent cost and the subleasing company may furnish the area and provide technical support as well. Both organizations can enjoy the benefits of sharing ideas with one another. The terms are usually flexible with month-to-month or 1 to 2 year agreements. A company may have the option to expand if so allowed in the contract.
- Disadvantages – With shared common areas, small issues can arise such as the use of facilities – for example who was the last one in the conference room who didn’t turn off the lights. A standard lease agreement may not be used, so it is good idea to have a lawyer or other professional review a non-standardized type of agreement if presented.
Leasing
For start-up businesses, leasing a Plano office space should be carefully considered since finding a great deal could cost both time and money.
- Advantages – Tenants can customize an area with enough space to provide for a rapid business expansion. Privacy can be enjoyed with the worry of any future expansion needs.
- Disadvantages – Finding a great deal may not be as easy as it is the other options. It also requires a higher initial cost and lease terms may not as flexible.
Finding a Plano office space to suit the needs and future expansion goals of a company can be a difficult goal to accomplish. Learning about the various choices available as illustrated above can hopefully provide a clearer perspective of the different office space options available. Enjoy the search!
Call LCRG (Laughlin Commercial Realty Group) to Locate a New Plano Office Space!
Have you been looking for a good location for a Plano office space? Contacting the professionals at LCRG (Laughlin Commercial Realty Group) at 214-526-2626 may be the best move to find the perfect location for your business!