Every startup with the drive to cause an impact needs to look for an office space that is capable of helping them achieve their goals.
This is one of the principal reasons why searching for the perfect office space is a strict requirement for people with new business services.
However, how much should a startup pay to lease an office space in the US? All things considered, a startup needs the kind of space they can afford, keeping in mind other incidental experiences such as equipment, labor costs, and miscellaneous expenses involved with them.
The cost of office spaces for businesses differs from city to city, which is why there is no standard price for office rental costs.
However, apart from location, other critical factors also affect the cost a startup should pay, including amenities on offer, how well-known the brand will be to its targeted audience, workspace features, as well as other miscellaneous services.
Digging deeper, it’s easy to see that office space for rent in San Francisco is priced differently than Atlanta because of the popularity of the location and how accessible it is to employees and employers.
Here are the following average rental costs per square foot in the following cities:
- New York – $74
- San Francisco – $65
- Washington DC – $52
- Chicago – $35
- Los Angeles – $33
- Miami – $33
- Seattle – $32
- Boston – $30
- Houston – $28
- Dallas – $23
- Atlanta – $20
If you have a tech or finance startup, then an office space for rent San Francisco and New York would be ideal as they’re known as the capital of tech and financial services respectively.
One consideration to keep in mind is the type of workspace that is required for the startup. A sole proprietorship might need a one-room office while others may need enough space to house a fully grown company.
There are disparate expenses that add to the cost of the rent of your office space without cutting out parking security and elevator services. The type of building also plays a huge part.
Class A buildings generally cost more due to the standard amenities available in them as well as the modern look of the buildings.
Class B buildings, on the other hand, are cheaper and have fewer amenities. It’s a universal truth that most startups prefer the latter to the former to rein in costs.
Most startups also prefer co-working spaces because they are cheaper and do not come with the expense of buying extra office equipment.
Another factor that should be considered is how much space is needed per employee or staff, which depends on the specific role they would be performing for your business. It would be good to calculate an estimate before selecting an option.
Making the leap to move your startup is not an easy decision. San Francisco remains an attractive destination for startups due to its entrepreneurial conduciveness. Office Finder ensures you get that golden yet, affordable office in the famous Golden Gate City that matches your dreams. With one of these offices, your employees would be inspired to go to work every day!
To read more on topics like this, check out the business category.