HOW MUCH SPACE DO YOU NEED? U NEED?
The size of your prospective building should match the size of your staff and any growth you can see your company having in the next few years. A general rule is that each employee should have about 70 square feet of space. If you’re planning on expanding or even just hiring a couple of new employees (or see that as a possibility in the years to come), you should get more space than you currently need. It’s tough to know your long-term outlook and predict the exact size of your company. You’ll also need enough meeting rooms and common areas. Here are some questions to help guide your search: • Will everyone have at least 70 square feet of room? • Do I have staffing growth projections? • When will I have these projections? (They are important for your search.) • Will my space accommodate those projections, when I have them? • Will there be ample space for meeting clients? • Do the employees approve of the common-area plans? If your budget is tight but plans to expand are in the deep future, try to get a lease on the shorter side. Paying more in rent for a year off the lease isn’t a bad move if the landlord agrees, and in the long run it could make your company money. If you think it could be worth it, getting extra space and putting in the effort to sublease it could make you a profit. Of course, that entails being their landlord (and working it out with your landlord). However, for a company with unknown growth in their future, it 49
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