The Indian corporate landscape is undergoing a vast transformation. A burgeoning economy, thriving startups and a fresh influx of global talent have turned the country into Asia’s next big thing. As a result, Indian cities like Mumbai, New Delhi and Bengaluru are experiencing an unprecedented rise in demand for office spaces. But with this massive growth comes the challenge of finding the right office space that can accommodate the needs of your business.
Choosing the right location
The location of your office is an important factor to consider. It should be accessible to clients and employees alike, but also near any transport options you may require. Your business will be more successful if it’s located in a place that’s easy for people to find and get to, so you should do some research into what locations are popular with clients like yours, as well as where your employees live and work. Rent and other expenses
Rental & other charges
When considering the total cost of your office space, you should also be aware of other fees that may affect your bottom line. These include:
- Rent or leasing costs: This is self-explanatory, but it’s important to keep in mind how much you’ll be paying per hour, day, month or year upfront. You can also expect variable rent depending on location and building type.
- Furniture and equipment rental costs: It’s common for landlords to charge additional fees for furniture rental if there isn’t enough space for employees’ personal items inside their cubicles/offices; this will usually vary based on what type of furniture you need as well as its quality level compared with standard options available from the landlord’s selection catalogues.
Promoting Work Culture
When thinking about your office space, it’s important to consider the type of work culture you want to create. Coworking spaces offer a range of options, including dedicated offices and private offices as well as open-floor plans some with dividers that can be moved around as needed and semi-private spaces. Coworking is an ideal option if you’re looking for a space where employees will collaborate and share ideas rather than just working in isolation from each other. However, if you need privacy during certain times of day or in specific areas of the office (for example, when discussing sensitive information), consider renting a private suite or executive suite instead. Managed office solutions offer complete customisation of your office to ensure your office is built to fit your culture and to ensure that employees truly enjoy coming to work, thus promoting a positive work environment and culture.
Lease Durations
Your lease term can be either fixed or flexible. A fixed lease is the most common type of lease and the most economical for your business. With a fixed term, you know exactly how much rent will be each month for the entire duration of your lease. However, if for some reason you need to move before the end of your term (for example, due to growth), then this can be very expensive in terms of break-clauses and penalties that could cost you thousands of dollars.
A flexible lease has no set end date; instead it allows you to pay month-to-month at market rates based on actual occupancy levels (i.e., how many people are working there) rather than just on square footage used by your business – so if there’s an empty office but other rooms are fully occupied with plenty of staff members around during normal business hours every day, only one space is charged while all other spaces remain unoccupied). This means that if one part goes quiet but another part picks up again then only one space will still have costs associated with it while others might not even get charged anything since they aren’t being used right now but may well be later down the line when things pick back up again!
Infrastructure
When you’re looking for an office space, you want to make sure that the company provides all of the infrastructure that your team will need. This includes power, water and internet—all of which are necessary to run a business smoothly.
As well as these basic utilities, it’s also important to consider whether or not there are conference rooms, meeting rooms or boardrooms available for use by employees who may need them throughout their day (for example: CXO level executive) Some businesses also offer amenities like gym memberships, coffee bars, restaurants, sport facilities, etc.
Landlord Reputation
You should also consider the reputation of the landlord, building, area and country. You want to be sure that your prospective office space is well-maintained and safe. Also look at whether or not there are other businesses in the building that you’d like to work with as a tenant. This will help ensure that you create a positive relationship with your landlord as well as collaborate with others in your industry. For a businesses, it is also important to consider Grade A building and real estate partners to work with, a prestigious business address goes a long way!
Notice Period
A notice period is the amount of time a tenant is required to give their landlord before vacating the premises. The length of this can vary depending on the type of lease agreement, but usually it is a couple of months.
A termination clause details how and when your lease will come to an end. This should be included in your contract, which you should take care to read over carefully before signing anything.
CoWrks is an end to end workspace solutions provider that helps you re-imagine your workspace. Why fit in when you can stand out?
Cowrks is a one stop shop for all office needs from start-ups to global businesses. We offer a range of flexible solutions that can cater to your requirements and budget, ranging from hot desks to managed offices, co-working spaces with plug and play abilities or virtual offices where you host your business at a premium business address without the need for bricks and mortar premises.
Cowrks offers a range of workspace solutions including flexible workspace, managed office solutions & instant workspaces.
Find the best solution for your business and solve all your space related problems. Call us at +919538611122
