One of the biggest challenges for any business in Dubai is finding suitable office space. And, when it comes to a growing startup, the problem could be far more challenging.
In general, landlords prefer five to seven years of lease terms, to name a few of the challenges. Moreover, for most startups, the uncertainties are too high. Finally, most startups don’t really know exactly where they’d be six months down the line.
All these challenges cumulatively make it a not-so-easy task to find an office space for startups.
So, what can entrepreneurs do? How do they find an office space that meets their requirements? Or, more importantly, how do they overcome these challenges?
Fortunately, there are several options explicitly minted to meet the needs of the startups.
Consider these following factors when setting up a workspace for your startup.
Leasing Period
The first and foremost consideration is the lease period. As mentioned already, most landlords prefer a five to seven years leasing period. And it is particularly not suitable for startups.
So, when leasing up an office space, it is vital to negotiate the leasing terms.
Consider this – you might have five to ten employees right now. But, you could have more than sixty employees within the next six months.
Most startups generally have a tangible target in the back of their heads. So, generally speaking, the leasing term shouldn’t be very long. But at the same time, it shouldn’t be too short, either.
Besides, as an entrepreneur, you can explore your alternatives, including subleases. Many landlords may also offer you flexibility in lease terms.
Meaning, you can either extend or cut short your lease period.
Layout of the Office Space
For most startups, layout might not be as important as for an already established company. The reason being, there are usually not many headcounts working in the company.
Besides, an extensive layout would also add up to more cost.
On the contrary, for specific startups, the layout could be a crucial aspect. For example, if you are a tech or creative company, you might need an open space. Then, of course, you’d wish to brainstorm and collaborate on your ideas in an open space.
Likewise, if you’re a marketing company, you might need an office space with conference areas. Again, you’d want to discuss the strategies and hold team meetings in a dedicated place.
On the other hand, if you’re a law firm or a usual corporate office, you might only need an ample seating area. So open spaces and conference areas might not be as essential for you too.
In a nutshell, you need to focus on your requirements and find an office layout that suits your needs.
Amenities Available Onsite
Of course, for your office space, you don’t need shopping areas and a swimming pool.But, you’d still need the basic amenities for efficient working of your staff.
For example, you might need access to the internet. Likewise, a pantry or a cafeteria might be your necessity
The idea is to look for amenities that facilitate your operations. But, at the same time, the amenities should not add to your lease rent exponentially.
Consider this – you find an office space that fits well within your budget. But, there are no available amenities. There’s no internet, there’s no furniture, or there’s no pantry or cafeteria nearby.
What would you do?
Of course, you’d source these amenities on your own. And believe us, it’s only going to need more spending from your pocket.
The better idea is to look for an office space that could offer basic amenities within your budget. For example, top-notch Office Space in Dubai offers amenities like utility bills, internet, pantry, and additional conference rooms. All this within the final lease contract value.
You can step further by comparing your needs and the additional amenities you may get within your budget. It should help you decide upon the better properties for your office space.
And Of Course, Your Budget
Last but most important of all the factors is your budget. We’ve already stressed about it, but it’s one of those crucial factors that you cannot ignore. No matter what.
Ideally, you’d make up your budget before you even head out hunting for office space. But, remember, your budget might not get you what you’re looking for. Or possibly, for better may also get you a far better area than you anticipate.
Of course, the latter would rejoice, but what if the former comes true?
We recommend you first research the market and then decide upon your budget.
Property prices for leasing commercial spaces generally depend on the location you choose.
For example, office space in the middle of a commercial hub or an industrial area would usually cost you more. In contrast, office space in a garage or a warehouse might not cost you as high.
Besides, as mentioned already, the amenities you look for would also decide the price you pay.
So, when deciding your budget, consider closely what you can get and what you need. Also, how much you can spend on additional amenities that you may receive.
We also recommend that you don’t stick to your budget rigidly. Instead, staying a little flexible with your budget can get you better property without remorse.
The Takeaway
Finding a suitable office space for your startup is undoubtedly a challenging task. But it is not an impossible one.
You need to remember a few key points here – decide upon your budget after research, know your requirements and have a backup plan.
It is worth mentioning that your backup plan would be your first line of defense. No, not in the usual sense. By defense, we mean that your backup plan would help you survive through the initial challenges, even if you couldn’t find suitable office space on the first go.
Nonetheless, with sound research, and of course, taking the factors mentioned above into consideration, you can ease the process.
On this note, we’d like to take your leave and let you begin with your search for the perfect office space for your startup.
