Tag Archives: down economy

How to Save Money When Renting Office Space

small home office
cramped office

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:

I.      DO THE LEGWORK YOURSELF

Hiring 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 and extra 3,000 square feet of office that you don’t really need and aren’t really using.

3.      FURNISHING THE OFFICE

With 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 BUSINESS

        Don’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 NEEDS

        Renting 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.

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Finding the Perfect Office Space at the Perfect Price

Finding the Perfect Office Space at the Perfect Price.

Finding the Perfect Office Space at the Perfect Price

Small offices, in van nuys
Perfect Office

Finding the perfect office, in the perfect location, and at the perfect price can be time consuming and can also have a huge impact on your business.  It is an exciting time in the growth of any business whether it is a new start-up or an expanding company looking for improved premises. Fortunately, with the large quantity of offices available  on the market, combined with the multitude of fantastic resources that allow for easy searching, ‘finding any office space’ can now be transformed into “finding the perfect office space”.

The office you choose will be one thing you will need to consider but what kind of businesses that surrounds that office is what really is important.  However, location is important even if you are not looking to pick up passing clients because we all want to give off the right impression to our clients and visitors. Whether a business wants to enjoy a remote location or be in the heart of a vibrant city, location is of great importance.

First impressions are made in the first ten seconds of meeting someone. This is also true when it comes to walking into a building. Business premises need to always look professional, clean and organized otherwise clients might get the wrong idea if things appear to be disorderly and untidy.

Instead of jumping in feet first and taking the first available office space, businesses should to take their time as the right location can make or break a business.  It is easy to feel overwhelmed and emotional when trying to figure out where you are going to spend all of your time and a lot of your money. When you know what you want, it’s too easy to jump over important steps in the search process and land yourself with a space that looked great at first, but fails to meet your needs.

After you have found the perfect office you will need the perfect price to go with it. Many tenants fall into the trap of believing that since they have signed a long term lease they are locked in. Let me tell you if you haven’t already heard, everything is negotiable, especially in this market we are experiencing now. Landlords are desperate for tenants and they’ll do anything to keep from losing an existing one.

The key to negotiating a better lease is to find other office space for lease. . You have to know what other options are available to you and what the rates, sizes, amenities, access and availability are for comparison before negotiating.

Look at the cost of the lease, and determine whether it is a total cost for the property or if it is on a per-square-foot basis. If the cost is per square foot, inspect the property to see if it has space you can’t use, and ask that the landlord removed it from the cost calculation. Check for any clause concerning rent escalation over the course of the lease. Ask that landlord add an escalation clause to prevent unexpected increases.

Virtual Office for my Business

When you’re a new business start-up, or an entrepreneur with a great idea of starting your own business  but with limited resources, then the best way to start your idea, while still maintaining professional appearance to your clients, is to lease a virtual office.

The benefits of setting up a virtual office for a new business is apparent.  Not only do you save the company money in rent and rates , you achieve a appearance of professionalism and it gives you the freedom to work not just from home, but literally anywhere, meaning you can get out on the road and do some much needed prospecting.

A virtual office is like a traditional office it provides all those services that you expect from a real office without the cost of a traditional office.  Even the tiniest of offices can run several hundred dollars a month plus the cost of commute, the furniture and computers , and at least one telephone line the cost of doing business can become overwhelming.

Setting up a virtual office can seem a bit intimidating at first, but once you get the idea and get a feel of the benefits,  it’s really quite easy. With today’s technologies and the use of a virtual office, there really are no boundaries. With a virtual office you can spend more time with your family, work from almost anywhere, and your clients never need know you don’t have an office downtown, if you prefer them not to know.

Why do people start businesses?

Success
New Business Success

Due to the bad economy and not a lot of jobs out there, people are now taking the opportunity to build a business and develop a clientele.  A lot of individuals take the plunge and take advantage of the many opportunities and resources available when starting your own business.

Starting your own business gives you the opportunity to follow a dream or interest. Pursing a passion as a career by starting a business can increase your motivation to work and overall job satisfaction.

Many people like the idea of not being restricted by the rules and regulations of a job. When you have your own business, you set your own hours and come and go as you please. Initially, many owners may need to work more hours per day than a standard job. But when the business is established, they may be able to take time off and hire help to run the business.

To better understand why people start their own business, we asked many new business owners what motivated them to start it.

69% Of them answered “Be my own boss”
20% Of them answered “Follow a dream”

11% Of them answered “For Financial Stability”

It’s interesting that the desire not to have a boss is the primary motivator of entrepreneurs because “being one’s own boss” appears to be the prime source of entrepreneurs’ job satisfaction.

While there are many answers to the question why start a business, the best answer is the one that motivates you to take action. If you encounter any obstacles along the way, reminding yourself why you became a business owner in the first place can help you regain your focus and enthusiasm. The rewards of starting and operating a successful business are unparalleled in the world of work so start brainstorming and come up with your own answers.

Five Important Steps to Start Your Own Business

 

Start your own business today
Start your own business today

1.    WRITE DOWN A BUSINESS PLAN

The main biggest mistakes a young entrepreneur makes is not writing down a business plan. Not only is it a good planning tool, but it also the key element that will help you raise money.  Include research into things like how much you can charge for your product/service, how much it will cost to produce or deliver.

2.    FIND A LOCATION FOR YOUR BUSINESS

Although the idea of starting your business at home is money saving there is many factors to look at when starting at home.  Will the kids interfere? do you have space? If these in fact are going to be a problem.  Then go out and look, for an office space.  Remember

3.    SIGN A LEASE

Ask for a copy of the form lease from your potential landlord. Read it and try to understand it. If you don’t understand the legalese, find an attorney. Start-ups should look for flexibility and try to sign as short-term a lease as possible. Understand the details of what you’re committing to when signing the lease.

4.    MARKET YOUR BUSINESS

Even though social networks are essential, don’t underestimate the old ways of marketing.  Your business is barely kick starting so you need to get the word out, let people know of your business, what products or services you provide. Embrace and use the most effective online tools (Twitter, Facebook, YouTube, LinkedIn) available to broadcast your news.

5.    KNOW YOUR COMPETITION

Many businesses fail because they underestimate the competition. Often, it is not necessarily the quality of that competition, just the mere presence of it. You may think that you can drive your competitors out or at least steal some nf their business by offering a better price or better service, but many businesses can breed an intensely loyal following of customers.

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Scared of starting your own business?

 

Start-up Office
Offices for Business that are just starting

People always wonder if this is a good time to start their own business. The fact is, there’s really never a bad time to launch a business. It’s obvious why it’s smart to launch in strong economic times. People have money and are looking for ways to spend it. But launching in tough or uncertain economic times can be just as smart. If you do some research and there’s a high need for the business you’re starting. Because many people are reluctant to launch in tough times, your new business has a better chance of getting noticed. And, depending on your idea, in a down economy there is often equipment (or even entire businesses!) for sale at bargain prices.

When you start a small business you face lots of challenges. In order to improve your chances of beating the odds, what is important is that you educate yourself about business development. Starting and running a business, or any form of self-employment, requires a range of skills and attitudes. It can be very demanding.

It’s important that you understand all the responsibilities you’ll have, and as many of the foreseeable challenges as you can. On the other hand, it’s also important to recognize the rewards of working for yourself and providing a quality product or a needed service to your customers and the community.

Working from home might seem to be cheaper than leasing or renting an office space, but in the current climate with lots of property available, office space rental isn’t the costly exercise you might think it to be. In fact, thanks to the recession, many landlords are simply eager to lease out their dead office space, and so as a result, prices are actually more competitive than ever.

You’ll be surprised at how cost effective this option can be and the extra benefit with renting an office space from Van Nuys Offices with one of their short-term contracts  It also allows convenience and flexibility, which are both essential things when a business is in its fledgling state. Shop around, take a look at the deals – it could be the best thing you’ve done to date.