Renowned for both the Liberty Bell and its iconic Philly cheesesteak, Philadelphia is home to the USA’s Declaration of Independence and its rich tapestry of ethnicity, race, and immigrant traditions as well as modern facilities that only Philly’s legacy can provide.
In contrast to this, Philadelphia ranks the sixth-largest labor force in the US, with over three million workers in the financial, retail, and engineering sector, employing more people in 2018 than any other year since 1969. It’s no wonder that many people have their sights on investing their money in Philadelphia.
You can rent the best office space in Philadelphia for your business, and the community is even one of Forbes’ Top 10 Rising Cities For Startups for firms, making it a popular spot to start a company. As there are many ideal locations from which to choose, finding the right office space can be a challenge. If this is your first project, you want every detail to be seamless so you can avoid any problems that could stand in your way.
To help you in making the right choice, here are some factors to remember when you’re searching for the best office space in Philadelphia:
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It’s the most significant factor when looking for office space for your business. Getting an accessible place is critical for every company because it can make a real difference in the future of your company. In some developed regions, congestion and shortage of parking areas are of significant concern for employees. Research by Philadelphia-based Econsult Solutions Inc. showed that traffic on the Center City Street Grid alone ends up costing citizens $152 million in yearly time value, and transport costs related to these setbacks result in a $260 annual tax for each Philly household.
If you can get an office space convenient for both public and private transport, your workers do not have to stress over traveling to work. In the same vein, customers can easily find your office without roaming around the streets. Getting a workspace in a commercial district or proximity to facilities like King of Prussia Mall or the East Center City Commercial Historic District may add to the convenience and productivity of employees.
Office spaces in Philadelphia are in high demand, partially because of its convenient location near Washington, DC, and New York City, with significantly lower rates. Some Philly sub-markets have rentals over $40 each square foot, and the total average price for lease and its surrounding suburbs is $26 per square foot. Your budget for the office space is something that has to be planned efficiently as the cost impacts the net revenue of your company.
If the cost or discount for the commercial space is too low, you could get a space in a disadvantaged area with poor working conditions. When the price is excessive, the company could easily spend than it can manage, inconveniencing the business with expensive rents and additional expenses. When finding an office area, verify that there are no hidden fees, including maintenance costs, parking charges, utility charges, and other extra costs. Consider if the rental price fits the site and amenities provided.
3. Company Size:
Small businesses make up 98.2% of Philadelphia’s employers, and if you’re one of them, you’ll be competing with them for Philly’s various offices of varying sizes. The capacity of the property needs to cover the scale of your business because you do not want to squeeze your staff into a small space with no breathing room. However, you do not want to waste too much in a large area you cannot use.
The normal rule of thumb is that each worker should have about 21 square meters. Therefore, when you have ten people, you must aim for a commercial space of around 210 square meters. Companies vary by form; each might have different needs, so make sure that your employees are comfortable.
Understanding the size requirements will keep you from switching from one space to the next because it’s an additional cost that you do not want. Unless you’re looking to expand the business and use more people, you might be best with a smaller and more versatile commercial space.
Enterprises today seldom provide internet access, making it a key element in finding an office space. Still, Philadelphia’s online access percentage rate fell by 2.7 points around 2016 and 2017 for wired providers such as Comcast and wireless services. Get an office designed with web access and are included in the contract. It’s vital to have a secure, safe, and efficient internet service to avoid performance hurdles, so decide if the space that you’re considering can handle modifications in the network as per the business requirements.
5. Layout and Design:
The architecture and structure of the office space is not just a choice that you can find. It is a need that has a significant effect on staff performance, loyalty, and happiness, and the atmosphere of your workplace represents the workplace culture and speaks volumes about how much you value the company and employees. Check the layout, lighting, ventilation, and proximity to nature.
When you’re a tenant, you get the right to a secure and private environment. Philly is adamant about what this entails — each occupant will receive notice of the Partners for Good Housing manual from their property owners — which is helpful when you need to inquire or read more about the legalities of your agreement. Explore every surface of the workplace, and if you need details, do not hesitate to ask. Monitoring and examining everything about the workplace should ensure that property and commercial property managers do not mislead you.
When you find that you’re not experienced with this kind of transaction, using an office finder site in Philly can help you find solutions that meet the needs of your business. Running your own business can be difficult, but when you eventually find the ideal workplace for you, you can launch your business confidently.