One of the top expenses of running a small business is paying for the office space. When you consider that half of small businesses don’t survive the first five years of operation, it’s a good idea to keep overhead costs low from day one. When you launch your start-up, there’s no written rule that says you need to set up a traditional brick and mortar location.
Small business owners have a number of options when it comes to leasing office space or finding a place to hold meetings. Flexible office space allows your business to grow while virtual office services can eliminate the cost of leasing commercial office space altogether. There’s a lot to consider when looking for office space for your small business, so we broke down the basics.
What type of office space does your business need?
Depending on the size of your team and plans for growth, there are a number of office space options to choose from. Here are some of the most popular office types to consider.
A private office gives you the professional space you need to focus on important projects or connect with clients. Many times, fully furnished offices are available. Leasing a move-in-ready office can help you cut down on moving costs and the expenses that come with buying office furniture. Private offices include the top amenities you would expect in high-quality office space such as high-speed internet, phone services, meeting space, break rooms and more.
Much like a private office, temporary office space can come fully furnished and move-in-ready. If you are planning to grow your business soon or change locations, it might not be worth the investment to commit to a year-long lease. Day offices allow you to flexibly work out of a professional space and short-term leases give you space long enough to complete a project or meet with clients.
If you’re looking for a space that offers privacy to each employee, executive suites may be the best fit. You can typically lease a few private offices that also include meeting space and a break room or lounge area. While this option may be more expensive, each team member has complete privacy and you can make a great impression on your clients and guests.
With a shared office space, you are not locked into a set amount of space or a specific office layout. If your team does not need the level of privacy that private offices and executive suites offer, you can all work cohesively in the same space. Furnished, move-in-ready options are often available, and you can enjoy amenities such as a break room, meeting space and a receptionist to greet guests. You will also have more flexibility to scale your business up or down.
Make sure you’re leasing the right amount of office space for your business by reading our blog, How Much Office Space Do I Need?
Are there other options for small business offices?
Traditional offices are not as necessary to run a business as they once were. Today, there are several virtual office and temporary office space options available to help your business succeed.
For startups or small businesses that want to represent themselves well without committing to office space, virtual office services offer an effective solution. A business address can give your company an instant presence, while mail and phone services can help you run your business and stay organized.
If you need to meet a client, give a presentation or hold an important meeting, you can rent conference rooms by the hour or the day. Enjoy a professional space without committing to a traditional office. You also typically receive the benefits of the office building such as beverages, furniture, technology and décor.
Let Executive Workspace help your small business succeed!
If you’re unsure what type of work space would best fit your business, or you already have the perfect office in mind, contact us to set up a tour. You tell us what you need, and we find the space that works for your business. Whether you need an area to video conference or just a casual space to get the job done, we can eliminate the worry that comes with finding an office and committing to a long-term lease. With Executive Workspace on our side, you have time to focus on your passion – running your business.
Click here to view all of the office types available for lease in the Dallas, Fort Worth and Austin areas. Want more information on finding the perfect office space for your business? Download our free guide, 5 Steps to Find Your Perfect Office.
Article by JoAnna Brown