Question: What's one thing I need to do or consider when moving my company from a coworking space to a private office?
The New Commute
"When making a big decision like this, we often don't consider questions like: how will this affect my commute to work? Will I have to leave home an extra hour early to make it in on time? Am I making enough to warrant the increased roundtrip and likely trek through both rush hours? These are all questions that may not be on your mind but will undoubtedly be on your employees' minds."
"With a coworking space, you don't really need to worry about the culture because the space does that for you. But in a private office you need to invest in the culture (e.g. the art, lounges, food) and everything related to the office space. You want to check how much you can invest in that before moving, as it's very important for team morale."
The Fine Print
"It's important to know what you're getting into when signing a commercial lease. If you have primarily been working with coworking spaces that have very flexible guidelines regarding rent termination, maintenance and even on-premise pets, the move to a more traditional space can be jarring. Make sure you are clear on your lease terms (think growth!), rent amount, obligations and do's/don'ts."
Losing Out On "Global Mobility"
"Coworking companies such as WeWork and Regus have global networks of offices with memberships that can accommodate "hopping" from one space to another. When moving to a private office, you might be sacrificing this sort of mobility. Consider whether your company would benefit from a single location that customers come to or multiple locations closer to your customers."
Utilities, Mainatenance and In-Office Resources
"We underestimated the overall cost of monthly utilities and recurring office cleaning costs. Be sure to weigh in the costs of all utilities, electricity, heating/AC, Internet, TV and phone. We're paying a total of $400/month more than we anticipated. Another unexpected expense is the cleaning services. We have to pay $100/month to a cleaning company, which we thought we would do ourselves."
Your Team Members
"Confirm that it's something team members really want. Right now we're a mainly remote company with two dedicated desks at a San Francisco WeWork; local remote team members drop in every so often to cowork in person. And instead of team off-sites I fly people in quarterly for team on-sites. By remaining remote, we can work with some of the best people around the country; right now I have team members in at least a half dozen geographies."