A modern business doesn’t have to worry about office space for a long time. Let’s face it, you can run a company from the comfort of a living room these days. However, when the business begins to expand, you will have to move out of your front room and into office space. The good news is that renting a commercial building is a sign of success. The bad news is that renting a commercial building is not cheap. Luckily, there are ways to do it on a budget without compromising the quality. Here is what you should know.
Business Incubators
If you have never heard the term before, an incubator is an environment which allows a business to grow. Normally, they are in excess office space and host dozens of firms. However, the good news is they are cheap to rent and come with ready to go furniture and equipment. As a result, the atmosphere is a lot more professional than working in your bedroom or study. Plus, you will make contacts as you will be surrounded by your peers.
Buy Out A Firm
Not too many people want to buy a business because they think it’s expensive. In fact, it can be cheaper than creating a startup from scratch. For starters, companies already have the infrastructure and setup outlined. So, there is no need to waste time and energy putting the foundations in place. More importantly, they could have a lease which comes with the company. If so, taking the business off their hands would result in taking on the lease, too. Obviously, you would have to check it is a fair amount and doesn’t last forever. But, as long as it is reasonable, buying a business is a great way to negate certain cost
Reach Out To Failing Businesses
Sadly, there are plenty of firms that fail every day. But, don’t see this is a bad sign; look at it as a good one. Any business that is failing will need to secure alternative sources of income. By asking them to let you rent a proportion of the office, you can kill two birds with one stone. The money you pay will go a long way to keeping them in business, which is why they should accept. And, you will get a bargain because the rent will be cheap. After all, you have the leverage.
Share An Office
Are you the only company who can’t afford office space? The answer is no as lots of businesses can’t afford to pay today’s market prices alone. However, if you pool your resources, what was unaffordable is now a realistic target. Okay, so it won’t be a perfect match made in heaven because everyone needs their space. But, it will do until you have the money to stand on your own two feet. A tip: look for an office with a little extra legroom. That way, you shouldn’t step on each other’s toes.
Office space is expensive, but it doesn’t have to break the bank.
