In some instances, acquiring office space can be a drain on resources, and this is especially true for start-up companies. An increasing number of real estate brokers and landlords require companies to sign for 3 to 5 year lease terms and have personal guarantees while renting an office.
For that reason, small companies are constantly seeking ways to minimise extra liabilities and grow. Before buying or leasing an office, it is advisable to think creatively and find ways to save money and time. Mentioned in this article are some of the ways in which you can save money while leasing an office space for your growing business.
- Consider renting some shared office space.
Shared office space is becoming an increasingly popular option and is a great money saving idea when it comes to renting office space. This particular option is beneficial in that, given its setup, it allows the employees of a company to interact more and share ideas with each other. Additionally, the environment that it creates encourages collaboration and a sense of togetherness among the employees.
Owing to the tough economic times, many companies are forced to cut back which leaves such companies with more office space than they actually need. Instead of losing money on this excess space by letting it go to waste, some companies are now looking to sublet that extra space for a very reasonable price. Therefore, with regards to saving on expenditure, getting a shared office space is a great idea.
- Look into the option of co-working space.
The increase in the establishment of digital-based companies has made co-working spaces a lot more prevalent. Companies that would like to rent office Bracknell space should consider getting a co-working space that is flexible and allows them to rent on a monthly or yearly basis. This solution is particularly beneficial for start-up companies that are looking to interact with other like-minded people and companies that may have a bigger marketplace presence than they do.
- Minimise the work force.
Many established companies in the country have a lot more employees on the payroll than they require, which in turn means that capital is being wasted. Examining the role and need for staff members in the company can turn out to be a huge saving opportunity. To get an idea of how much office space a company needs to rent, it’s important to evaluate the need for the current workforce and minimise it through internships, sweat-equity arrangements and independent contractor agreements where possible.
- Explore the possibility of renting a fully furnished office.
Some properties are now leasing offices that are already fully furnished with necessary amenities such as hook up phone lines and Internet. To save on time, money and effort, renting a fully furnished office can be a great opportunity for start-up companies. Such spaces also offer the company staff access to conference rooms, a receptionist, and kitchens as well as many other essential amenities for the day-to-day running of the business.
As you’ll have probably gathered, there is no one-size-fits-all approach when it comes to renting office space. The suitability of any office space will solely depend on the individual requirements of a company and its budget, but as you’ll have seen from the above, there are a number of different ways to save money while acquiring appropriate office space for your business.