Tag Archives: getting a small business loan

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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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.

A Commercial Address Required For Some Business Licenses

Small Office
Starting Your New Business

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.
  • Small is the way to start

    Small Office for Lease
    Small office in Van Nuys

    There are many opportunities for people that want to start their own business now than there was years ago.  During this economic stress landlords that didn’t consider pursuing smaller tenants are now looking to expand their business and are willing to take small tenants.

    Large spaces that have now been divided into smaller ones are helping out those people who have thought of starting a new business but were afraid of the commitment to a large space.  The number of small spaces tenants can consider in their searches has increased.

    Many people think that when you start a business, leasing office space is not a really important thing because you have that extra room in home you can now use as an office.  Yes, having your business run from your home can save you some money.  But is it really saving you money.

    Many customers or clients seem to feel that a business with a permanent address other than someone’s home is less likely to be a flaky business, and more likely to be able to deliver on guarantees.  Which means some potential clients can change their mind about doing business with you.

    Another consideration that you may want to think about, particularly if your business is mature, is that businesses with outside locations tend to be easier to sell and to bring higher prices. For one thing, the new owner doesn’t have to scout out a new location and go to the expense of moving; for another, customers and clients are already accustomed to visiting a particular office and can continue to patronize it despite the new ownership.