Choose Renting to Expand Your Business

by / ⠀Startup Advice / January 9, 2011

office boardroom

If your business is expanding at a rapid rate and you’ve outgrown the spare bedroom, then it might be time to move into an office. Buying this space can be very expensive, a cost that most fledgling businesses just can’t afford, plus, with the property market still on shaky ground, investing in bricks and mortar isn’t necessarily a safe place to put your cash. Who needs to buy when renting offers such a variety of options? There really is a solution to suit any business type and most pockets. Whether it’s a whole building, a couple of rooms, or even just a desk it’s likely you’ll be able to find exactly what you need. And, if you don’t need an office all the time, short-term leases are available, perfect for when you’ve got a specific project that requires more space but you don’t want to be tied-in to a long-term contract.

Flash (without the cash)

If you want all the mod-cons – nice fixtures and fittings, a receptionist, someone to run a vacuum round after you’ve gone – but the budget doesn’t quite stretch, then serviced offices could be the answer. Fully equipped and managed, you can rent individual rooms or whole floors. Everything is provided, you don’t even have to buy computers, desks or phones; cleaning and maintenance will also be taken care of. Serviced offices are great for giving the right impression to customers, without the costs of setting this all up from scratch.

Work with like-minded businesses

If you are going to be sharing a building with lots of other businesses, it makes sense to choose neighbors that may enhance your own offering. Complimentary companies might help you expand beyond your current business-model as well as opening doors to new customers. For creative companies, cohabiting a space with fellow arts and marketing organizations could prove inspirational. If you know a number of businesses in the same position as you, why not pool together and share a building.

Try before you buy

If ultimately you do want to buy your own workspace, renting provides a great way to try out different office types. You might think some where’s perfect on paper, but once you’re in, it’s not quite big enough, or the location’s all-wrong. If you lease you can walk away at any point and get together a list of must-haves for when you do decide to invest in somewhere more permanent. Many businesses have had a tough few years so are unwilling to take financial risks. Renting removes some of these risks, plus is accessible to businesses large and small – perfect for start-ups. If everything goes to plan, it’s easy to move-on somewhere bigger and better to suit your growing empire.

Jessica Lowe writes on behalf of Office Genie, www.officegenie.co.uk, the one-stop-shop for cost-effective shared offices, serviced offices and desk space.

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About The Author

Matt

Matt Wilson is Co-Founder of Under30Experiences, a travel company for young people ages 21-35. He is the original Co-founder of Under30CEO (Acquired 2016). Matt is the Host of the Live Different Podcast and has 50+ Five Star iTunes Ratings on Health, Fitness, Business and Travel. He brings a unique, uncensored approach to his interviews and writing. His work is published on Under30CEO.com, Forbes, Inc. Magazine, Huffington Post, Reuters, and many others. Matt hosts yoga and fitness retreats in his free time and buys all his food from an organic farm in the jungle of Costa Rica where he lives. He is a shareholder of the Green Bay Packers.

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