Are you a solo entrepreneur who is sick of working in coffee shops and in your garage? You’ll have to relocate out of your house and into an office at some point in your entrepreneur’s journey.
Despite the fact that the world is becoming more “remote work friendly,” there are numerous advantages to owning an office. For starters, having a venue to meet with clients can help you develop long-term business ties. Your company will also rank higher on Google if it has a commercial business address. Even if you wish to hire a top-tier intern, most institutions require that you have a physical address. The list of advantages is endless.
As important as having an office is, a lot of entrepreneurs don’t believe they can afford to rent one early on. Fortunately, many major cities today have a high number of freelancers and startups who require a minimal quantity of office space on a daily basis. Everyone can save money if you can connect with others who have similar business space requirements as you. Here are some suggestions to guide you in finding the perfect work environment even on a shoestring budget.
1. Business incubators
Although the practice began in regions like California’s Silicon Valley, “business incubators” are now widely available across the country. These incubators are part of a broader entrepreneurial ecosystem that fosters an environment and boosts the chances of a company’s success. They are not, and should not be, the panacea for all business woes. They play a crucial role in the growth of the entrepreneur. You might want to consider this type of office space if you’re open to some expert guidance and want to work with others who have similar company interests.
2. Professional leasing groups
You should reach out to one of the many companies that now operate only to connect sole entrepreneurs and others with temporary office space. Of course, you’ll want to compare their pricing to those of their competitors to discover who can best assist you in finding the type of office space you require.
Many law firms, accounting firms, and banks have extra offices that they would be willing to rent to you for a reasonable fee. If that’s the case, see if you can pay a little extra to have their receptionist take your messages and utilize their various office machines. When a conference room becomes available, they may allow you to utilize it.
4. Rent or lease space with others
Check with friends and business partners to discover if anyone else needs to rent or lease shared office space. Check for local newspaper blogs and ads, as well as online websites, to see whether they answer this requirement. Regardless of the length of the lease or rental agreement, make sure all of the most critical provisions are spelled out in writing. No one should be obligated to pay for the rent or lease of those who have mysteriously gone. Consider having each person put down a deposit with the rental agent or lessor (clearly stated in your contract) to assist mitigate the damage if others leave sooner than intended.
5. Look at unconventional spaces
If you need to rent a large office space for a group of workers, you’re certainly aware of how costly larger office spaces can be. Have you considered spaces that are not office buildings at all? Renting an existing warehouse or storefront that can be readily turned into office space could be less expensive. It is not necessary for a place to be constructed as an office to be used as one.
6. Local library and nearby university libraries
While these establishments are unlikely to provide you with a receptionist or other standard rental office services, they do frequently set aside a large quantity of Wi-Fi area for customers. Furthermore, libraries have traditionally been known for their “silence.” However, this is frequently best considered as a temporary solution while you search for a more permanent job location.
7. Coworking Spaces
Coworking spaces can be approached in two ways. You have the option of joining one or starting your own. It is substantially less expensive to join one.
Coworking spaces are not only less expensive than traditional office space, but they also provide a slew of other advantages to startups. One is the sense of community and regular networking opportunities that a coworking space provides. A coworking space might be “referral heaven” for you and your business if you provide a niche service.
If you want to avoid the usual co-working facility, look into services like Loosecubes. They match those who need space with people who have spare desks or office space, and they have locations all around the world. This also allows you to shop around before committing to a long-term lease.
9. Rent a desk
Many firms have had to downsize as a result of the current economic climate. This frequently results in unoccupied desks in established, professional work environments that you could not otherwise afford. Propose your idea to small and midsize firms in your area that work in a comparable industry. Renting a desk is also a fantastic opportunity to connect with influential people in your field.
10. Work outside
To work from anywhere, all you need is a portable workstation, a mobile power bank, and a Wi-Fi hotspot. Outdoor offices can readily be set up in public parks. You get some fresh air, you get rid of the distractions, and you have a quiet workspace to work in. This is a fantastic alternative for those who work from home and need a change of scenery.
Choosing the Right Space for Your Business
Your office location may be determined by the type of business you run. A coworking space may be more appealing to freelancers because loneliness is a concern, but for a videographer, a specialized studio may be required.
Consider the following aspects when narrowing down your options:
- Budget. For most small firms, this is one of the most important elements. Your budget may prevent you from visiting some of the places on your wish list.
- Location. Aside from the physical location of your workplace, you’ll want to think about the surrounding area and what’s available. This includes public transit choices as well as how easy it is to go around the area on foot or by bike.
- Terms of the lease. Short-term leases are sometimes more appealing to small but developing businesses that may want additional space in the future.
- Other occupants. Learn more about the tenants in your possible space’s neighborhood to see if you’ll get along with them.
- Amenities in the construction. Free coffee and snacks, office supplies and printing, outdoor common spaces, and community events are all popular features of coworking facilities. Some large commercial buildings are already providing comparable benefits to their private office tenants.
Once you’ve narrowed down your list of potential office locations, go to each one and see how you feel. Make sure you like it because this is where you’ll be working Monday through Friday, 9 – 5 for the next few months or years.
Enterprise software development experience. More recently in positions including CTO, Lead Developer and Head of Product in Australia. Deep expertise in property and legal technology in Australia with a specialty in lead generation and tech scalability across Asia-Pacific.