Commercial Real Estate Savings

Commercial Real Estate Savings

Commercial Real Estate Savings
For small companies, an​ office is​ an​ overhead that many feel they can do without, at​ least when starting up, but as​ a​ business grows and​ takes on staff, an​ office becomes an​ essential .​

Even before that, there are many arguments in​ favour of​ a​ physical presence; an​ office can add credibility, and​ suggests permanence, that the​ company is​ going to​ be around in​ the​ future, perhaps particularly important for​ new companies .​

But how much space should you rent or​ buy? Obviously this will depend on the​ employees that you expect to​ be working there, but you will need to​ factor in​ growth plans, whether you require an​ open plan working environment (allow 75-100 sq ft for​ each person) or​ individual offices (about 175 sq.ft) and​ meeting areas (215 sq.ft will accommodate a​ table and​ chairs for​ about six to​ eight people).

An alternative, particularly if​ your growth is​ uncertain is​ a​ serviced office, where you rent space by the​ number of​ workstations you require and​ by the​ month .​
This may not only help with cash flow, but also allows a​ company to​ grow or​ contract in​ a​ fairly flexible manner .​
There are no capital outlay costs for​ furniture or​ telephone equipment, all of​ which are provided and​ if​ you need meeting space, you pay for​ it​ by the​ hour.

Additional services, such as​ secretarial assistance are also available as​ required and​ the​ telephone is​ answered by a​ dedicated receptionist and​ in​ your company’s name.

On a​ price per sq.ft basis, serviced offices are more expensive, but this additional cost is​ often outweighed by the​ fact you are paying for​ just the​ space your business needs.

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