Looking to lease an office, but you’re unsure of what kind of office space is best for you and your business? Depending on the size, stability, and revenue of your business, you may be stuck between a Traditional and an Executive Office space. Let’s break down the differences and find out which works best for you and your business!
Traditional Office Space
First and foremost, a traditional space is mostly to establish a home base for a very long time. This is a space you want if you are looking for a longer lease term of around 3 to 5 years. This offers stability for company and your staff. This is where you will build your dedicated business headquarters for your many employees. Traditional spaces work for your business if you are able to settle down for a long period of time. Usually, longer lease terms are lower in price and you get more square footage for your dollar.
However, there is a downside. Most times with traditional spaces, you get to customize it to your liking. Sounds good right? Who wouldn’t want their space to be exactly how you want it. Well, this means you’ll have to purchase or lease your own furnishings, internet, phone systems, and other amenities. If your business is a start-up company, a small company, or a small satellite/branch office, the traditional office space is not for you. As opposed to increasing revenue, it will end up being more expensive and may cause your business to get stumped on the financial side of things.
Executive Office Space
Second, an Executive Office space may be the better if you’d prefer a shorter lease term. Executive office spaces typically offer shorter lease terms than Traditional office spaces. For example, lease terms range from month to month, 3, 6, 12, and typically no more than 18 months. Though you may get smaller square footage, executive offices have different amenities included, such as, lobbies, reception areas, receptionist personnel, break rooms, and conference rooms.
Above all, executive office spaces are “move-in ready”. They come fully furnished with internet, phone systems, decor, and artwork to awe your clients with a luxurious look. This “one price for everything” office space option makes it an easily affordable for your new business without large start up costs. Also, it’s the most professional option without any long term commitments and extra spending to create a customized “look”. Typically, executive offices are rented/leased by startups, or branch operations with distant headquarters. Essentially, they’re rented by any business that needs flexibility in their spending and their commercial real estate.
In short, if you are still unsure of which one is best for you, try taking a tour of both. This way, you see it up close and personal with no commitment. Luckily, Empire Executive Offices has amazing office spaces available now with easily scheduled tours. Contact our Regional Manager, Jennafer Belabin, for your tour appointment! We wish you the best in your office space search. We hope to have you as a new addition to our Empire family!