Setting Up Office for Small Business

Setting Up Office for Small Business.

While there are many ideas available across the web to help small-business owners set up their office, today I am going to discuss a specific kind of office set-up for small business owners – Shared Office Space.

Does your industry, client base, or work sanity require a professional looking office? Can your budget afford the high costs of office rental? Many start-up entrepreneurs or home office company owners come to realize that an office space can be a large overhead expense and a cash drain on precious capital. A shared office space can ease your rental anxiety.

Building your small business takes many dedicated hours in your office. It makes sense to choose your office space like any business decision; look at the alternatives and determine your best course of action. Your office serves as a place of business operations, client communications, and a daily reminder of your purpose. One cost-effective alternative to traditional office leasing is the shared office space.

The Concept

Shared office space, also known as serviced office space, business centers, or executive suites are a turn-key office solution providing an office space shared by other companies or professionals. Besides the lower costs, a shared office space can help home-bound entrepreneurs feel less lonely and provide a more upscale image for your company. These offices often come fully equipped and furnished, a ready-made solution for establishing a branch office or saving limited time and money for start-ups.

The 24-hour access and facilities such as mail handling, telephones, and broadband, as well as a central location, in most cases, can allow you to focus on your business and less on managing an office. It provides a convenient workplace environment to operate in.

By pooling your office space with related professionals, you can enjoy the synergy of building your referral base with other similar non-competing businesses. Shared offices can provide a synergistic marketing solution. For instance, a group of health professionals like a podiatrist, massage therapist, and chiropractor can all benefit from shared office space and expanding client exposure to a one-stop shopping solution. Even if you do not have a complementary business to share office space with, you can still have people to socialize with at the proverbial water cooler.

How to Choose

Contract

A serviced office can offer a minimum 3-month lease; much better than a 10 year term. Leases and lease options will vary among shared office firms and locations. Have a lawyer review your contract to understand your requirements and the flexibility of your office solution.

 

Tenants

An important question is who will be your office space partners? Look for complementary businesses or similar-sized companies. View your tenant relationships as an opportunity to gain access to shared business wisdom and camaraderie.

Amenities

Depending on the location and rental costs, a shared office can come with basic office amenities or premium services including:

  • receptionist
  • full office furniture
  • mail services
  • conference and business equipment, such as faxes and copiers
  • board rooms
  • delivery services
  • publishing services
  • health club
  • high-speed internet access
  • personalized telephone answering

Location

For certain industries, a location is central to business success. Having an office in downtown might be a minimal client requirement. If location is not paramount, consider lower cost locations. Don’t forget to include the location attractiveness from an employee perspective. Will the office be within commuting distance and have affordable parking?

Shared office space remains a viable solution for small business. To find the best deal, take the time to shop around and compare existing office spaces. Never be put in a situation of pressure to close a deal. Remember to seek counsel from trusted advisors and mentors.

Build a healthy business relationship with your clients, using emails, phone calls, face to face meetings and technical presentations of your product, instead of depending on flyers and brochures. Did you know that people are 80% more likely to remember about your product or service if they watched a video of it? HyperEffects provides you with extravagant and enticing videos that will help you attract your potential clients and retain your current ones. Our custom-made videos offer state-of-the-art production and unique perspective, to give you the status you deserve. Enrol now for our free one-hour session to understand more about the concept of going paperless and making it work to your benefit.

Hyper Effects | Grow Your Business

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