Business owners are now seeing the benefits of renting an office space rather than purchasing one. This option is convenient, hassle-free and helps keep expenses at a minimum for you and your company. However, entrepreneurs considering offices for rent on the Sunshine Coast will often make some serious mistakes that cost them significantly in the long-run.
As a business owner, make the most out of these rented spaces by learning from these mistakes committed by others.
Going Beyond the Budget
This is one major mistake that should be avoided completely. Going beyond your budget could negatively affect your funds in the near future. It could cause serious financial constraints and even result in bankruptcy.
For instance, taking a huge loan to meet your maintenance costs can lead to difficulties when it comes to repayment. You might encounter problems when trying to meet other necessary costs, especially if you’re still struggling to put money together for rent. It would be ideal for you if you stick to your initial budget when choosing offices for rent on the Sunshine Coast instead.
Leasing Bigger Offices
This is, arguably, the most common mistake made by many people when choosing a rented office space. Renting an exceptionally large office space can cause major difficulties in the future. This is because, with a huge office, you will not only pay for unneeded space but also extra costs for maintenance. It is, therefore, vital to lease a space that’s just enough for your current needs.
However, you should consider the growth rate of your business. If your firm is developing at a high rate, it would not hurt to have a few rooms empty just in case you may be required to hire more workers in the near future.
More often than not, people settle for an office space that is located far away because the rent is comparatively cheaper. In doing so, however, you’re limiting access to the amenities necessary in keeping your business running. This would consequently cause financial constraints, or even a decline on profits. In the end, you need to ensure that the location of your office is in an area around the Sunshine Coast that’s within close proximity to business and transportation hubs.
A good office space should have all modern facilities and amenities such as high-speed Wi-Fi connection, phones, business-class printers, as well as cleaning and maintenance services. Renting a space devoid of these facilities could be a terrible move, which will only cause further issues during your rental period.
Insufficient Parking Area
Perhaps the biggest mistake you can make is renting an office space that doesn’t have enough parking space. This can be a major issue for your staff and the clients who visit your premises. A good office space should have enough parking area that is easily accessible.
Learn from these mistakes while you search for suitable office spaces. This way, you won’t have to shell out more than necessary when investing in the ideal workspace.
The Boarding Office is a co-shared office space with spaces available for small businesses and entrepreneurs alike! If you’re interested in learning more about us, visit our website, or reach out to our office manager Vicki at [email protected]
Office Spaces: Should You Buy or Rent One?, The Huffington Post