You’ve got to spend money to make money, and once you’ve grown too large to be working from a home office, that’ll mean renting a commercial space. But of course, this is going to eat into your budget, and if you’re not careful, it’ll eat up more money than you could or should spend. So if you have to rent a place, then what’s the solution? The trick is to reduce your office costs. If you’re smart, then it’s possible to keep the money you have to spend at a minimum, which will enable you to use the money on more important things. We take a look at a few ways to do this below.
It’s easy to get carried away when it comes to renting an office, especially if you’re doing so for the first time. You’ll have a bunch of ideas about what might be possible – maybe you’ve been inspired by the cool Silicon Valley offices – and aim big. But let’s be sensible for a second. While there are advantages to having a cool, modern office space, there are also high costs involved, and it might not be the best way to use your money unless you have a large budget.
Don’t Get Stung
You’d like to think that when you rent a commercial space, everything will all fair and square. But it’s worth remembering that the landlords of the space will have their own interests at heart, not yours. As such, it’s important that you’re working with an expert to ensure that the contract gives you the best terms possible, and doesn’t contain any nasty surprises. If you don’t know where to begin, get the details at WeisblattLaw.com/commercial-lease/. There could be many negative consequences if you end up locked into a contract that is harmful to your business.
Maximize the Space
You don’t only have to focus your efforts on reducing your costs. You can also look at using your space to make money, too, which can be used to offset the expenses of running the office. A good way to do this is to look into hosting events. You can do this by renting out your space to people who need a space, or by hosting your own event and charging people admission. It’s also a good way to build interest in your brand, too, both with potential customers and fellow businesses.
Suppliers and Usage
Not all supplies are created equally. Some will charge you much more than others! As such, it’s worthwhile checking who’s supplying your energy, and checking that you’re getting the best deal possible. A simple switch to a different provider could make a big difference. It’s also always a good idea to monitor your usage, as it’s always possible to use less, which will result in savings on your bills. You can also look into letting your workers work from home on certain days. The fewer people there are in the office, the cheaper your bills will be.