Are you looking for an office space to rent on a shoestring budget? This is the most challenging phase of many startups considering the exorbitant rates of leasing fees. Regardless, you have to lease a suitable office space that can effectively support your operations and growth.
Here are some cost-savings tips that will help you rent office space on a limited budget.
Opt for co-working space
Have you ever heard of shared working spaces? They come in handy where rental funds are limited. This option is viable for you and will save your wallet until you can lease an independent space. How do co-working spaces operate?
These are rental spaces where overhead costs are shared among the lessees. Meaning you will cost-share the operating expenses with other businesses already in place. It’s a beneficial option for a startup since you’ll have a great chance of landing networking opportunities and referrals. Remember, most of the individuals you’ll find in shared rental spaces have similar mindsets and goals.
Consider subleasing
If you are looking to set your office in a specific location and can’t seem to find a space for your budget, consider subleasing. This option is somehow different from co-sharing in that you can decide to lease the entire space and sublease a section of it to someone else. You can also find an occupant looking for a sublessee and lease a portion of their already rented space.
The advantage is that, in subleasing, a rental fee is charged per square feet, which gives you a chance to go with a space that suits your budget. If you want to maximize the space, seek the help of an interior designer.
Move to a small town
Office space to rent in the city can be expensive, especially if you want a large space. Relocating your major operations away from the city would be a viable idea until your business stabilizes financially such that you can keep up with the expensive rental fees in the busy cities. Think of your business future and how you can grow in a small setup and expand your reach in other locations without deserting your company headquarters.
The first-time to lease an office space can be exciting since it marks a vital step in realizing your dreams. Make the best choice keeping in mind that with time you’ll outgrow your first rental space. For that reason, you should have a plan and strategies that will help manage future growth and demands.