How to Save Money When Renting Office Space

There comes a time when that basement or spare bedroom you’ve converted into an office just doesn’t cut it anymore. You need a real office space — a place where you can meet clients without your small toddler crying in the background, a place where your filing cabinet doesn’t double as a table for the microwave.

And unless your business is picking up pretty good then you probably don't have that extra money to rent an office space.  However, there are a few things you can do to help you save money without feeling like you’re cutting too many corners.  Here are some tips to help you get started:

1. DO THE LEGWORK YOURSELFHiring the help of an agent may seem like the correct thing to do.  But hiring an agent means there's going to be fees to pay. So in order to save some money you might want to go solo on your office search. You'll find it easier to find the perfect space, after all you're the one who knows more about your business.

2. HOW MUCH SPACE DO I NEED? Before you go out looking for an office space, you need to stop and calculate how much space you will need.  You don’t want to end up renting a 10,000 square feet office when you only really needed 7,000 square feet.  Which would mean you will be paying every month for an extra 3,000 square feet of office that you don’t really need and aren't really using.

3. FURNISHING THE OFFICEWith the great list of used and refurbished office furniture available today, purchasing new is most often a waste of money.  Don't go buying new furniture when there is many thrift shops or classified ads that have office furniture that is in very good condition and for a very good price.

4. PREMISES TO MATCH YOUR TYPE OF BUSINESSDon't underestimate the value of appearances. How your office looks can have a huge impact on business & investor relations so it is crucial that the premises you choose match with the image you want for your business.

5. NOT CONSIDERING FUTURE NEEDSRenting office space can be risky because it may be difficult to predict your future business needs. Renting the proper amount of space, in a location that suits the business, is sometimes a great risk you will be taking. The property owner does not share in your risk-taking, and it won’t be the landlord's problem if the office turns out not to suit your needs. If you signed a contract, it’s your space until the lease terminates.         

         

5 Signs Your Business Needs an Office

Need more space?

Here are some signs that your business may be ready to move out of your home:

• You have frequent face-to-face meetings with clients, but no place to hold them. Not having an actual office can get in the way of creating a well recognized business image if you need to meet with clients frequently. Always asking them to head to Starbucks may not send the right message. Noise (like your kids asking for something) during conference calls can also convey a less-than-professional image.
• You outgrew the space that was dedicated to work only.  If your inventory, equipment or other aspects of your business are spilling out onto your kitchen table, overflowing the garage or otherwise invading your personal space, it may be time to look for an office. Have you taken over your children’s closets? If you have evicted your children from their closets to make room for your products, you need to find a better place to store your merchandise.
• Your home is too noisy or has too many distractions for you to get your work accomplished.  Many home-based business owners struggle to resist the siren call of the fridge, the TV or the phone. Kids or overly friendly neighbors can hurt your focus and cut into your productivity.
• You don’t have a dedicated work space at home.  When company comes over you have to move boxes off chairs in order for them to have a place to sit.   This is a sign that your space problems are becoming critical.
• Your business’s blooming rapidly and you can afford the added expense of an office.

A Commercial Address Required For Some Business Licenses

To run your business legally, there are certain federal and state licenses and permits you will need to obtain in order to conduct your operation.

Virtually every business needs some form of license or permit to operate legally. However, licensing and permit requirements vary depending on the type of business you are operating, where it’s located, and what government rules apply.

You can expect to secure the maximum amount of credit available if you set up your business in a commercial office location. A physical location that is zoned for business speaks volumes for your company and its operation.

If you’re determined about having a commercial address but renting office space is out of the question then you may want to consider the following 3 alternatives:

Commercial Address – There are many leasing companies liken Van Nuys Offices that offer you the ability to have a qualified commercial address for your business for the purpose of only receiving mail and packages.
Virtual Office – A good way of saving money and at the same time still maintaining a professional image is to have a virtual office. A virtual office will give you the right impression at a fraction of the cost of having your own office. With a virtual office you have the ability to run your business out of your own home and at the same time building a professional image for your business.
Dedicated Office – You can obtain a complete turn-key office operation which includes a private office with your own phone, fax, internet, full furnishings, meeting room and much more. Some turn-key offices give you the privacy, security and professionalism of a workplace that is not in an open environment or room-share. You will have your own suite number, own mailbox, and your own phone line. You may choose from one single private office or several offices with many options.

 

Choosing the Right Office Space

Finding the perfect office, in the perfect location, can have a huge impact on your business. With the average length of a commercial property lease at 5-10 years, finding the perfect space is crucial; nobody wants to be stuck in the wrong office for any amount of time, let alone 10 years.

The right office space can make or break a business. It’s not easy to find the perfect premises, especially if your experience is limited. The key factor is to take the time and don’t settle for the first one you think is perfect. Because remember, your business will have to live with it for the life of a lease.

Give yourself some time don't rush into a lease. Though the economy is in a state that there are plenty of office spaces around, you’ll still find that the perfect office space is hard to find. But, due to the recession, landlords now have cut their lease lengths to at least a year. Making things much easier for you. The best thing to do when you think you have found the perfect place is to determine how much space you really need. Once you have calculated this , you want to evaluate how much space you will need to expand once your business becomes successful and can hold more people. Paying too much for an office space could affect profits; paying a small amount for inefficient space is also a waste of money. Van Nuys Offices

Renting a Small Office

Renting an office space might seem like a luxury for a freelancer or an entrepreneur. But some freelancers say that renting a separate space is not only affordable, but also helps them do their job better — and, in the process, make more money. Because of the peace and tranquility you will have, it will allow you to focus more on your job and get more things done.

Not everyone gets distracted by every little thing, so distractions may not be an issue. In the event of annoying relatives, a rented office space might be something you should consider. Remember no two businesses are alike, just like no two owners are alike.

Consider taking your business to the next level. What do you have to lose? At Van Nuys Offices we are very flexible with our contracts because we know how hard it is at the beginning when you start your business. Therefore if you rent a small space from Van Nuys Offices and three months down the line you feel your business didn’t quite pick up. No Problem! We allow you to move out or move into a smaller space. Give us a call today so we can help you get into that office your business really needs. Or send us a message today!