The cost of office space can be prohibitive for companies that are just starting out, especially those that do businesses in large cities like Washington, D.C., New York or San Francisco, where rents are significantly higher.
Leasing office space in a prime city location is undoubtedly expensive, but that’s not the only cost of setting up shop. Besides leasing your space, you need furniture. Yes, you can lease that too, but that route may actually cost you more in the long run. Buying office furniture can add up to thousands. You can rent for much less, but you’ll eventually end up paying the same amount, and you won’t even own the furniture.
And don’t forget about technology — computers, printers, copiers, fax machines, monitors, modems, keyboards and more. Plus, you will need supplies like ink, paper, staplers, paper clips, etc.
Some leases include the cost of utilities, but some don’t, so you need to factor that expense into the equation as well.
How to Afford the Office Space You Need
Even for companies that are firmly established, these overhead costs can take a sizable chunk out of the profit. Every business wants to maximize profit, so saving money where possible is essential. But how can you save money on office space?
Easy: Rent space in a shared office environment instead of assuming all the costs yourself. An office space rental agreement can include the use of supplies and other necessities, saving you many thousands of dollars upfront that you may not have if you are a small business or startup company.
Additionally, you will be able to afford much nicer surroundings by renting shared space than if you leased an entire suite. Your clients will be more impressed walking into a marble-tiled lobby and taking the elevator up to a beautiful office staffed by a capable receptionist than they would if they visited you in the type of surroundings you could afford on your own. This can translate into more business, and a stronger bottom line.
Rented Meeting Rooms
Another great benefit of renting office space is the availability of meeting rooms. Even if your company could afford office space, it likely would not be large enough to include meeting rooms. Besides the space required for a meeting room, you would need a conference table and chairs, and equipment for presentations, such as projectors, screens, and related technology.
These expenses add up quickly, and there are always a few needs (translate that as costs) that you didn’t count on. Remember to include services you might need, such as techs to set up your computers and wireless network, construction costs for walls or cubicles and delivery charges for furnishings, rugs, appliances, etc.
Some businesses can get by with their employees using their cell phones, but others will need a dedicated number with a system in place for routing calls. Such a system would also likely facilitate group and conference calls, call waiting and other VoIP features.
Another cost frequently overlooked is insurance. You need to protect your investments from fire and theft, plus you may need insurance to protect your visitors who may slip and fall or have another type of accident.
Find out how much you can save by using our comparison calculator tool. Plug in the numbers specific to your business and you’ll see how you could benefit by choosing office space with Metro Offices. We have locations in Farragut Square, Metro Center, Dupont Circle and Reston, Virginia. Each is conveniently located near a Metro stop in a bustling, downtown location.
When you choose Metro Offices, you don’t have to worry about compromising on location, features or amenities — you’ll have everything you need under one roof.