In most cases, launching a business from scratch requires a lot of hard work. While the majority of your time will be spent keeping a close eye on finances it is important to portray a professional image, especially during the early years.
Whilst many entrepreneurs choose to run their business from home, in the initial stages, many more need a space to call their own. However, many entrepreneurs are unaware that local office space can be found on a shoestring budget.
So, here are five simple tips to help you find your dream office space without breaking the bank and dampening your profitability:
Ask a commercial real estate professional.
Finding affordable and suitable office space in your local area can often be like finding a needle in a haystack. However, enlisting professionals that already know the local commercial property market can really pay dividends when finding your very first office within budget. Whilst enlisting a service may come at a cost, it is much more efficient than searching for properties alone. Expand your network with an office space agent, you may be surprised at what you can afford thanks to their expertise and negotiating skills.
Separate business needs and personal wants.
Whether you are finding commercial space with the help of an agent or independently being clear on what you need from your first office can save a lot of wasted time and reduce your office space rental price bracket dramatically. However with so many serviced buildings offering offices with all the bells and whistles separating what your business needs and what you want is has to be done before you begin your service.
Consider a virtual office.
For many startups having that professional business address rather than directing mail to your home residence makes all the difference in the world, and that’s where virtual offices come into play. There are a number of virtual office spaces available that act as a full-time business address for small to medium-sized companies. Virtual office spaces receive all incoming mail, which can be collected or forwarded to your home address. Meanwhile, many virtual offices also offer a dedicated phone number to take company calls. Lastly, virtual offices are a particularly affordable option as they come with all the professional amenities your business needs without the price tag of renting a space in a prime business location.
Eliminate dead space.
Avoid opting for more space than you need. While it is important to forecast how your business will grow and expand into the space to prevent costly relocation, it is also important to limit dead space as much as possible to prevent your office space budget from becoming too stretched.
Think carefully about location.
When opting for your very own business hub, location is of course of great importance, however opting for space in a certain area can have an impact on price. Explore what your wider area has to offer in terms of commercial space and calculate whether the time and money spent commuting offers better value than opting for a piece of premium real estate in the city centre.