Tag Archives: small business loan

I Want to Start My Own Business

start a new business
I want to start my own business

There is real opportunity to start a business today because many, many businesses that existed prior to the recent recession have closed their doors and left wide range of  parts of market with little choice . Many long-standing client relationships have also disappeared. More than anything else right now, consumers and businesses want the lowest cost, period! This presents a great opportunity for entrepreneurs who want to position themselves in the marketplace as the lowest-cost provider.

But before your jump into this roller coaster ask yourself a few questions…

1.  What kind of business will I begin?

Do what you love to do.  Businesses don’t just happen. They are made. Most people do the mistake in opening a business they know nothing of.   Your success relies on what you bring to the business. If you love what you do then chances are your business will be successful.  Don’t be tempted to start a retail store just because you find a cute, affordable space.

2.    Where will I get the money to start my business?

Start up business funding and start up business grants are hard to come by. Ensuring you have the funds necessary to stay viable past the first few months, when business will be at its toughest, is extremely important.  If the only problem you have is a momentary lack of funds, and you have a decent credit rating, speak to your bank about a business loan.

3.  Do you know how to run a business?

Running a business takes different skills than practicing what you know or love.  If you don’t have an idea on how to run a business, then start today learning how to do it, or find a friend that has same knowledge on this and can give you some advice.

4.  Do I need a business plan?

Yes in fact many businesses that go under is because they didn’t have a business plan before they started.  Creating a real business plan is hard work and a pain. But it is hard work that will be rewarded. It forces you to think past rationalizations that we all tend to make and come up with something real and doable.

5.  Will my business need an office?

If you are on a tight budget and are unsure exactly how long it will take for profits to flow in at a strong level on a regular basis, consider starting a business with a home office.  New businesses die every day and many suffer a premature death simply because the new owner ran out of money.

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Want to start your own business but scared of failing?

Van Nuys Office Space For Lease

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.

Office Space On Your Terms

 

signing office lease
Before You Sign the Lease

Before signing on a lease, it’s always important to know what you’re getting yourself into. By carefully reading the lease entirely can help straighten out any probable problems before they happen. For first-time renters, signing on the dotted line is often thought of as just part of the rental process. The excitement that comes with a new office space sometimes surpasses the responsibilities that go with renting an office. Before signing that lease, it is important to read the fine print and be aware of what your landlord expects of you, as well as what you can expect of your landlord. Make sure you review the lease carefully for requirements relating to often overlooked polices such as guests, parking, pets, and painting. Here are some other things you might want to be aware of before moving in:

– As soon as you sign, you’re stuck…….at least until the term of the lease ends. Many people think that just because you’re not buying the space, you can bail out if things don’t go right for the business. But that’s wrong, a lease is a contract, a legal commitment. So take a second look and inspect the place, know what you getting yourself into before you move in and realize you actually need more space or that the building is not so safe at night.

– Second thing to consider is know exactly what is the tenants responsibilities. Before signing the lease, make sure you have actually inspected the unit you will be moving into. Make sure there are no damaged areas or safety hazards. Inspect all window and door locks to make sure they are in working order. If anything needs to be fixed, make sure it is taken care of before you move in, or have it added to the lease (in writing). Make sure any pre-existing damage the landlord isn’t going to fix, for example, stained carpets, broken blinds, or stained walls, are written into your lease agreement as “pre-existing”. If these damages go undocumented you can end up losing your security deposit or even charged for those damages when you move out.

– Security Deposits is another major thing to educate yourself on. Many landlords and rental agencies will charge what is called a security deposit. This deposit is usually equal to one or two month’s rent and is refundable if certain conditions are met upon moving out of the rented space. The purpose of the deposit is to ensure that rent is paid on time, and to cover unusual repairs that may be needed when a renter moves out due to damage caused by the renter. So be careful and document any and all repairs requested from the landlord as well as any repairs done by you.

– More importantly, what are the terms of the lease? If you expand rapidly, is there a provision for breaking the lease at minimal expense? If you later downsize, will the lease allow you to sublet the extra space you don’t need? Before signing any agreements, check out the landlord, too. Discuss the terms before requesting a lease and make sure the landlord spells out each party’s obligation prior to signing the lease agreement. Leases are written by the developer and/or their lawyers so most are tilted slightly in their favor. If some things seem unfair do not hesitate to have a lawyer review or ask for clarification from the landlord.

– The last and most important fact is that there’s too much space around for the number of active businesses. For the first time in many years, tenants are in demand. For every business that closes, another space comes onto the market. So now as a tenant its your chance to negotiate better terms for your lease. Ask for a shorter term. Don’t get tied up in a long term lease, that down the line if your business doesn’t pick up you will still be responsible for the remaining months. You’ll also want to factor in and negotiate rent increases over the term and renewal options so that you are not unexpectedly hit with a rent increase without warning from your landlord – something that can quickly compromise you cash flow and margins.

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.

Is a Home Office the Best Idea

Home Office Getting too Crowded

For many new small business owners, a home office makes the most sense. Being able to work from home is an appealing concept for women today. The cost of starting a business is relatively low and women can feel more fulfilled knowing all the hours they put into work are to build their own business instead of someone else’s. More than 60 per cent of people who start a business are now doing so from home. From fashion design, IT and catering through pet care and arts/crafts to accountancy and legal services – you name it – it’s being run as a business from someone’s home. Most cities and towns will allow you to run a business out of your home as long as you meet certain criteria. A major benefit of using your home as your business location is that you won’t waste any time commuting and you won’t incur additional costs to rent an office space. The IRS also offers significant tax deductions for a home office used for your business.

But there is also drawbacks to working out of home. A major drawback of working from home is that you can never truly leave work. Also, many types of businesses aren’t suited to a home location. The advantages of moving out of your home office boil down to increased professionalism, more space to work and unlimited growth potential. Of course, with any advantage come a few disadvantages, but nothing that can’t be overcome. For some people, the chance to move into commercial premises provides a more professional outlook, greater scope for expansion and the room to accommodate permanent staff.

For some businesses, such as lawyers,accountants, insurance brokers, classes most clients either want, or need, to come in for face-to-face appointments. Other businesses, such as advertising firms, may be able to service their clients while hardly ever meeting them in the flesh. Before you move out your home office, read on to learn about the pros, cons, and factors to consider when moving to a retail space. There will be lifestyle and financial changes to your business if you choose to do so. You probably considered these factors when you decided to start a home-based business, but you will have to consider them again. If you can afford the move and want to expand your business to a larger clientele and higher production rates, then moving to a commercial location will definitely accomplish that goal.

SHORT TERM OFFICE SPACE

Success
New Business Success

Short term office space is an excellent solution for companies that need a temporary place to conduct business. By renting a small office your company can save funds and use them towards other things. This could mean the difference between turning a profit and not turning a profit. . If a company’s staff is small, then it makes sense to rent small offices rather than whole floors or buildings. Size isn’t everything when it comes to business. A group only really needs a professional setting that has a enough space for desks and filing cabinets, among other company-specific items.

Renting an office is a smart thing to do when a business is still growing, but it is not obligatory.  Renting an office helps out a lot in the first stages of growing your business.  If your business would need to apply for a small business loan and having a commercial address would help out a lot.  Many banks take small businesses with a commercial address more serious than those businesses that are running their business from home.

Privacy, client confidentiality, personality traits, etc. can all factor into one’s ability to benefit from a small office space.   Small office suites provide small businesses with the space and professional image they need without breaking the business’s budget. You do not have to buy or rent out a whole building or entire floor to operate your business. Instead, lease a small office suites that has just the right space you need for your day to day operations. This is an affordable and effective to get your business idea going.