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Entries for month: April 2013

How to Get into a New Market with the Help of a Small Office Rental Alternative

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So your business is booming, and you know it’s time to expand into another city. It could be 100 miles down the road or anywhere in the world. While you would like to operate out of the home office, you may have grownout of it and know it’s not a good use of your employees’ time to drive back and forth all the time, plus your business needs a presence in that city in order to drum up business.

This is where small office rental alternatives are very helpful. While small start up businesses might find coworking or virtual offices a good fit for their needs, this situation would seem to call for the rental of an executive suite. Businesses often set up branch offices in executive suites, also known as office business centers. Here are some reasons why this option would help focus your expansion:

  • Executive suites are run by an operator, who handles the day to day operations of the office. This means that, as with any rented office space, a backed up toilet or elevator breakdown is not your employee’s problem. They can focus on holding meetings and making connections in this new city.
  • Executive suites come with many of the standard office features you need for a professional look and experience: a shared reception area with receptionist, well equipped conference rooms, coffee and food service available, and both incoming and outgoing mail handling.
  • There is also the option for furniture and equipment rental, which minimizes your financial commitment and outlay to the new branch office until you are certain that it will be successful.
  • It is well understood in the industry that these arrangements are meant to be a shorter term, transitional type of arrangement, and successful businesses often shift from executive suites into their own office space. This means no worries over long term space commitments when you are assessing the viability of branching out. In other words, you have more flexibility in managing your office space.
  • Most executive suite operators also offer virtual office plans that will alow you to use thier address as yours and provide you as-needed office and conference room access.

So contact us today and let us know which city you are itching to branch into. We will help you find that perfect executive suite for this important transitional effort.

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By: James Osgood

Executive Suites , Home Office , Office Rental , Office Space , Serviced Office Space , Virtual Office Space

What Do You Want? An Office for Rent or Office for Lease?

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These terms, office for rent and office for lease appear to be inter-changeable to most people outside of the commercial office space industry. Probably the best place to start is in in defining what the differences are in an office for rent vs. an office for lease. When those of in the industry hear these two terms, they mean different things. To many outside of the industry they seem to be the same. The primary difference in the terminology is that an office for rent refers to a shorter period of time in which you are committed to pay rent. This typically ranges from month to month up to about two years. On the other hand, when those within the industry here the term office for lease, we generally understand it to be a longer period of time in which you are committed to pay rent; usually in the neighborhood of 3 to 5 years.

There are many options for businesses looking at finding an office for rent. Very often it is more difficult to find conventional office space for rent since landlords are typically looking for a longer-term lease, but there are many other alternatives for businesses looking for an office for rent. These office rental options typically range anywhere from a month-to-month to a year commitment. They include:

  • Executive Suites: An executive suite allows a business to rent an office within a fully managed office environment. In most cases a physical office will be rented and exclusively available for your use.
  • Virtual Offices: These are typically provided by executive suite operators and allow businesses to use the executive suite as their mailing address. They also provide the ability to use an office or conference room on an as needed, as available basis.
  • Coworking Spaces: This is the new kid in town and is very similar to and executive suite except that it is less formal, less expensive and focuses on collaboration between those that rent space in them.
  • Subleases: When you sublease an office, you are renting office space from a tenant with the landlord’s permission. This can be a somewhat risky endeavor in that if the tenant you are renting space from does not pay the rent or goes into default of their lease, you can find yourself without an office having been evicted. On the other hand, if you do take care and build in safety clauses into your sublease agreement that is approved by the landlord, it can be a very good option.

So what are you looking for? An office for rent or the office for lease? In either case the professionals at OfficeFinder can help you find the right space at the best price without the usual hassle. Give us a try. There is no cost to you. It is a no lose proposition.

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By: James Osgood

Office Rental , Office Leasing Tips , Sublease Office Space , Office Relocation

Is it Time to Buy that Perfect Office Space?

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So business is going strong, and now you are beginning to wonder if it’s time to stop pouring all that office rent money into someone else’s pocket rather than investing in office space of your own. After all, commercial mortgage interest rates are still quite low, and your company’s success indicates a bright future ahead. As you consider this important shift in business strategy, here are some things to consider.

  • Is now really the time? We ask this question not just with regard to interest rates, but also with regard to your company’s future growth. If your business continues to expand, will you find yourself, in another few years, running out of office space? If you are still in a period of growth, sticking with leasing may be preferable, because it provides more flexibility for future expansion. You should only purchase office space if you are quite certain that your future needs will be met by the space you purchase.
  • Where do you want your headquarters? Here we are thinking “bigger picture.” Think beyond whether the area you are considering is a prestigious, or up-and-coming, location for your company’s headquarters. It would be wise to do some research—and we can help—about business trends in your city. You need to think not just about what things are like now, but what they might be like in the future.
  • Is the area of town you are considering going to be the right place for your business in twenty, or fifty, years, not just for the next five? Will the area’s infrastructure (roads, bridges, restaurants, etc.) meet your needs in the years to come? If you are counting on some appreciation in the building’s value over time, it’s important to make sure you are buying in an area that will continue to grow.
  • Is this a good financial move for you? In addition to paying a mortgage company instead of a landlord, you will need to factor in your upcoming capital needs and cash flow considerations, as well as the tax consequences of making the purchase.
  • Are you ready to be your own landlord? This is a very important consideration, because when you lease space, it’s easy to call the landlord if the toilet backs up, or expect that the icy sidewalks will be cleared by the time you show up for work. If you own the property, those responsibilities, and more, will now be yours.

These are just a few of the questions that you should be considering as you discern whether to lease or buy in this market. We have more information on lease vs. buying office space and we suggest you contact us to conncet with on of our local pros to further discuss this exciting possibility.

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By: James Osgood

Office Space , Buying Office Space , Lease vs Buy

What is Most Important to Office Tenants?

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Determining your priorities is a key to finding the right office space for your company. A full needs analysis is critical in the beginning of the process to make sure you are looking for what you need. Abacus Office Finder in the UK has been doing an ongoing survey to determine what matters most when selecting office space for rent. Here is what they came up with:

  • Location 57%
  • Value 25%
  • Image 16%

Based on my 30+ year of experience in the business, it is pretty accurate.

If you want to go into more depth in analyzing your needs, we provide an Office Space Planning Checklist on our site so that you can make sure to consider all the major considerations when starting the process of finding you office space. In addition to the checklist we also offer an Office Space Calculator that allows you to determine the amount of office space you will need. Lastly, but not least, if you are considering an executive suite office rental, we offer an Executive suite vs Conventional Space Comparison Calculator that will reasonably accurately compare the cost of the two office rental alternatives.

All that said, the best way to make sure you get your office needs met is to engage the services of a local office tenant representative, like the ones at OfficeFinder, to make sure you consider all the factors you need to in your market. Every market has slight nuances that need to be considered.

Executive Suite
 vs. Conventional Office

Cost Comparison Calculator - See more at: http://www.officefinder.com/ExecSuite.html#sthash.TLU4UhRW.dpuf
Executive Suite
 vs. Conventional Office

Cost Comparison Calculator - See more at: http://www.officefinder.com/ExecSuite.html#sthash.TLU4UhRW.dpuf

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By: James Osgood

Executive Suites , Office Leasing Tips , Office Rental , Office Space , Office Space Design , Office Space Negotiations

When You Need a Very Specific Type of Office Space for Lease

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There are standard office needs—and then there’s yours. Whether you need to be particularly close to your client base, or your space needs are very particular, we can help you find that unusual office space for lease.

Let’s say your primary client base is college students, so you need to be within walking distance of the local university. The problem is that this university has become a magnet for student-oriented businesses and there doesn’t appear to be anything available in the area. This is where we can help. We have connections in all types of college communities, so we know about spaces that you might not hear about as you comb the space available ads or drive around the area.

Or perhaps you are seeking to expand your jewelry production business. You know that, in addition to a high class showroom space, you need both traditional office space and production areas with very particular HVAC and security needs, for working with and storing your expensive jewelry, metals and materials. We can help you find office space that will meet your exacting needs, or landlords willing to work with you on creating that perfect working environment.

On the other hand, perhaps you need a secure building because of your high profile client base. You want to make sure that your clients can enter and leave your offices without being seen by others. With our connections in the community, we hear about those low profile buildings that become available without advertising their presence—thus making them the ideal location for your low profile business.

Or is it that you need the highest profile possible, in order to break into a new niche? Perhaps you have the latest and greatest souvenir for the local ball team, and know that you cannot hope to make an impact in this particular niche market without having an office within a certain radius of the ballpark—or on the critical artery street between that public transit stop and the ballpark gates? We can help you find that perfect location from which to launch that new product.

So contact us today and let our expertise guide you to finding that perfect office. Success, after all, is just around the corner.

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By: James Osgood

Office Space , Tenant Representation , Office Leasing Tips