Taking on the additional overhead can seem a bit intimidating, but if you want your business to grow then leasing business space will probably become a necessity at some point. Finding business space that you can afford may require some compromises, but be patient.
Don’t be tempted to jump on the first business office lease you see as prices and amenities can vary greatly. Instead, shop around – either on your own or with the help of an agent – until you find a space that is perfect for you.
Here are some tips for finding the right business office lease.
Can You Afford It?
The first, and most obvious, question should be can you afford the business space for lease.
Everything about it can be perfect, but if the price is so high that it will hinder you from doing what you need to do to grow the business then you need to find a different space.
Perhaps you’ll need to put in a little elbow grease in order to get the office up to par, but that’s a better option than taking on more than you can handle.
Some offices will offer a long list of amenities while others will offer none at all. You should check carefully as some amenities can save you money.
An office space that costs more per month but includes all utilities, cleaning, internet access and security may be worth the extra cost of the lease because of how much you’d save in the other areas.
Check the Fine Print
Make sure before you sign a business office lease that you fully understand what is in the fine print.
This includes who is responsible for improvements and repairs, how much insurance you are required to have and, in some cases even how many employees you are allowed to have.
A business office lease is likely to be much longer and more involved than an apartment lease. To be safe, it’s a good idea to have your attorney go over the lease with you in order to avoid any unpleasant surprises down the road.
Can You Grow in the Space?
Don’t bother leasing business space that you know is only going to work for a few months.
Instead, find a place that is likely to work for your business for at least one year and preferably longer.
The expense and hassle of moving more than necessary just isn’t worth it.
Location, Location, Location
Location is more important to some businesses than others.
For example, if you have clients visiting then you need to have an office space that is in a clean, safe building. Even if you do not have clients coming to your office, you will want the space to be as safe and convenient for you and your employees as possible.
Finding a business space for lease and moving in is going to take a commitment of time and money. Be patient and, if necessary, enlist the help of an agent. Once you’re settled into your new office you’ll be ready to continue to grow your business.