Deciding on the best business location is not always the easiest task to do, especially in a city like Toronto. Office space for rent in Toronto and most every major market around the world is competitive and pricey. Depending if you want to rent in the GTA or if you don’t mind renting office space in Richmond Hill, Brampton, Pickering or even Mississauga.
As a business owner you need to determine how your location will affect your business and employees and what you want to be close too. Determining an area and scoping out where your competitors are is a start. If you remember from my last couple articles, you do not want to be too close or too far away from your competition. If you are too close, there could be rivalry and if you are too far, there is probably a reason no other similar business is located in that proximity.
Let’s take a general look at what locations are best for office space to rent in Toronto.
First off, let’s take a look into some shared office space options and what you can get if you share an office for rent in Toronto. According to BlogTO, these are the best options for sharing office space in Toronto:
This co-working mini-chain has two locations in the Financial District and lets you rent out everything from a single desk to an entire office suitable for a bigger team. This is the same white collar neighborhood as our First Canadian Place Business Center.
Find this co-working space for entrepreneurs in a historic building along King West — what better place to get inspired while dreaming up how you'll take over the world? In King West you will find our beautifully renovated brick and beam styled business center at 500 King Street West.
With multiple locations in Toronto, including King West, King East, and at Bay and Bloor, it's easy to find a place that suits you. You can book office space here or even just a meeting room. Whether you're just looking for meeting room reservations, a private office or group team space we have a flagship location just around the corner at our Yonge and Bloor Business Center
Head to Riverside to park yourself at this space dedicated to creative freelancers and small businesses. It's beautifully designed, which is fitting considering it caters to those in the arts and technology fields.
Head southwest of Trinity Bellwoods Park to find this real life social network that lets you rent space for however long you need it, including just a day.
This Moss Park spot features exposed brick and lots of natural light. Competitive rates make this space an attractive option.
Whether you want to work by Queen and Spadina or in a century-old building in King West, you should be able to find your groove (and finish all your projects) at one of this company's two spaces.
You'll want to grab your lunch at Market 707 every day if you choose this space at Dundas and Bathurst. It's in the heart of a super creative neighborhood, so collaborate with those around you and start something new here.
I know where I want to work, what next?
After you have determined the size of office you will need to rent, you will have a better idea of the location and what type of space you will be looking for. If you are debating about spending the extra money to be downtown and wondering if it will be worth it, why not speak to similar businesses and get a feel.
If you can afford the extra money and it will not break the bank, being central and in a high traffic area will boost your sales I’m sure. You can contact your local council and get general business advice for the area you are interested in. This could help you get a better idea.
If you're ever feeling overwhelmed by choice you can always reach out to one of our Professional Leasing Agents and have them do all of this work for you. It's like having staff at your service but not on your payroll!
A Quick List Of 10 Things To Consider When Choosing Your Business Location:
Your Business Image
The Proximity To Other Services
Your Utilities + Additional Costs
The Building’s Infrastructure
Next up we will take a deeper look into ‘Different Office Solutions.’ A more advanced look into networking, co-working and the advantages and disadvantages in sharing or renting a private office.