Is it Time to Rent Office Space?
Many small businesses begin their operation out of a home office. Some businesses continue to thrive in that environment, while others need to move on to bigger and more appropriate office space.
How do you know when it is time to rent an office? There are a few questions you can ask yourself to help you make the decision.
- Are you able to concentrate fully on the job while at home, or are there too many distractions?
- Is your business “taking over” your home to the point that papers and other equipment are spilling out of the home office into the rest of the home?
- Are you and your employees tripping over each other?
- If clients must visit, does your home office situation present a professional image to them?
Based on the answers to the above questions, you can decide if it’s time to rent an office. If you can continue to work effectively out of your home office, you should do so.
The cost savings is obviously significant, and that is money that can be otherwise used to grow your business.
However, some business owners are unable to grow their business to its fullest potential while working from home. In such cases, it makes sense to take the plunge and rent a space.
Here are some costs that you will have to consider if you decide to rent an office.
- Rent and utilities
- Insurance
- Furniture
- Telephone lines and internet access
Weigh it all up, and if you decide that renting an office will help your bottom line, then start your search!
