Moving Your Home-Based Business To A Leased Office Space? Use These Helpful Tips

Moving Your Home-Based Business To A Leased Office Space? Use These Helpful Tips

7 August 2019
 Categories: Real Estate, Blog

When a home-based business venture takes off and grows into a profitable enterprise, the immediate feelings of pleasure may be short-lived. This is because this type of success almost certainly brings change to a growing company, some of which is sure to be uncomfortable.

One of these changes that can be particularly difficult to deal with is the sudden lack of space, especially if the company's growth requires adding staff members. If you are a home-based business owner who has experienced this type of success and are looking for leased office space to support continued growth and expansion, there are some helpful tips you may need. 

Location factors 

The first consideration when looking for office space to lease for your growing company is the location. If your business is one in which walk-in clients and customers, vendors, and salespeople regularly visit, the location will need to offer good visibility and ample, safe parking options. This type of office space will most likely require a location on the main level and include the ability to use signage to make your brand more easily recognized and remembered. 

If however, your business is one that operates online and requires accessibility only by your staff, employees, and the occasional delivery person, you may want to consider a less expensive office space. These are often away from the main streets, in industrial areas, or situated on the upper floors of other buildings and can often be available at a much lower lease rate. 

Be prepared to negotiate 

Another tip for leasing office space is to be prepared to negotiate the terms of the lease to get the most favorable terms possible. In addition to the actual cost of the lease, business owners who are leasing for the purpose of moving a home-based business may want to negotiate a shorter initial lease term to allow them more flexibility, should the business continue to grow quickly. In addition, it can be helpful to negotiate terms that will allow the tenant to make their own improvements with the landlord providing a tenant improvement allowance for that purpose so that the space can be more easily customized. 

Utilize a skilled professional

The world of commercial real estate can be very complicated to navigate. Business owners who do not currently have the knowledge or time to handle the research and negotiation processes necessary for finding and leasing a viable office space for their growing business should always utilize the services of a skilled, successful commercial real estate agent. 

For more help, reach out to a company like Executive Quarters.