Consider This Before Signing A Long Term Lease For Traditional Office Space
For many small businesses and entrepreneurs the thought of working exclusively squatting at coffee shops and having no home office is unthinkable. And this certainly make perfect sense to us here at AllOffice.Space however while working from an office has been shown to boost your productivity there are some things you should consider before you sign a long term lease for a traditional office “vanilla box” office lease.
Remote Working Capability
Depending on your industry and the structure of your team remote working may be a possibility for you. This is a popular option businesses of many stripes and in a recent Gallup Poll 43 percent of Americans spend at least some time working remotely in 2016, this has been an increase of 4 percent from 2012.
Granted, just because this is a growing trend doesn’t mean it’s the right fit for your business. You will need to determine if the benefits of the boost in productivity., increased efficiency, and reduced operating costs (primarily the rent of a larger space) is worth is. One of the options we offer at AllOffice.Space is our day office membership program which grants you and your team access to our locations all across North America and even the world (more details on that later). Additionally by tapping into the talent pool internationally you may be able to lower your payroll costs and access talented individuals you wouldn’t otherwise be able to meet. One field that can benefit from this is Digital Advertising, where local professionals could be in short supply or simply too expensive.
Save on Capital Costs
Let’s face it, renting a full time Vanilla Box office (a plain office with four white walls that require renovation to customize to your liking and branding) can be rather expensive, particularly if you only need a space for a small group of people, or even just for yourself. We offer flexible options here at AllOffice.Space from small single suites to entire floors of custom built design. You can always contact our team to see how we can help your specific requirements. For the startup you’re probably already in debt from the business alone so instead of taking on more debt for the office you may wish to pay down your debt and opt-in for a lower cost option like an office membership.
Can you Outsource Instead?
If you can outsource most of your team than your physical office requirements at home would be lessened. Some benefits from outsourcing include saving on the cost of renting a larger office as already mentioned, access to a large talent pool of the global work force, and more efficiency as your remote team can work from wherever they choose. I touched on the benefits already but it’s worth being aware of the potential challenges as well. These include your potential loss of control over your staff if you are not apt an remotely managing your team, communication challenges when you lose that face to face connection. Is in house manufacturing a requirement? As one of our landscaping clients used to say, “You can’t out source snow removal to India!”
Final Points to Consider
As I mentioned, here at AllOffice.Space we offer the membership so you can access day ofices within our extensive network in your City, State, or even across North America and the World! Alternatively perhaps a coworking space would suite you and still allow you to eliminate a permanent office. They’re another affordable option that we offer over a traditional office with fixed monthly fees and even boardroom, training room, and business lounge access. If you’tre in a larger city you may also have access to small business incubators which you can apply to once you have set up your business and can offer you discounted rates. The downside is that these type of locations are typically only offered in large hub cities such as New York, Vancouver, and San Francisco.
Needless to say you really don’t need to spend a fortune of office space, talk to one of our professional leasing agents who can help you. Whatever your final business decision is, we’re here to help you choose an option that serves your needs and the needs of your business.