So you know you’re ready to be renting office space for your small business. Perhaps you’ve even looked at some office spaces, and you’re chatting with other entrepreneurs you’ve met along the way, who are thinking some of the same thoughts—they’re also ready to make that jump from home to rent an office space. Don’t presume that this means you’re in competition with them for the few small office spaces available in town. Instead, think about whether you might want to get together with one or two of those entrepreneurs and rent some office space to share together. Sort of like a coworking office, but a situation where you would have control over choosing your fellow businesses. Here are some questions to ask if this thought intrigues you.
- Are your businesses compatible, even complementary? For example, say you have come up with the latest and greatest software program for homeowners to envision what a home remodel might look like. You might want to share an office with another software company that has created the latest and greatest app for restaurant supply purchasing; you would benefit from bouncing software ideas off each other, but know that you wouldn’t be in direct competition with each other. Or you might want to share an office with an interior design company and a startup that sells imported fabrics or custom made drapes and pillows, which would also be complementary to your remodeling software.
- Do you want to take the lead, and sublease—and is that even possible? The advantage again would be in the measure of control. Alternatively, your two or three businesses could form a collaborative and approach the rental market together, and be equally responsible when signing the lease and making the arrangements.
- Are you ready to make a commitment? This is, of course, the most crucial question. Leases are not as much of a commitment as a purchase, but it would be a big step forward from a home office. The advantages of having a professional working and meeting space are not to be underestimated, especially if you need to meet with a lot of clients.
So if you are ready to even consider this alternative to a coworking office, contact us today for further discussion and to see what types of office rental spaces might be available in your market.
By: James OsgoodOffice Rental , Office Space , Sublease Office Space