A Business Start-Up: What to Know About Leasing an Office Space - Cebu X-Geeks


Monday, April 7, 2014

A Business Start-Up: What to Know About Leasing an Office Space

In the middle of your busy life, an amazing idea just popped in your mind. In fact, it's too amazing for you not to turn it into reality. So, you did some research, attended some seminars , talked to a few people and thought about it many times. And after doing so, you finally decided that yes, it's the perfect time for you to start a business.

You have your funds ready, your business plan is mapped out and you're even starting to build your team. However, you're still missing one thing—an office. Since you're still starting your business and you don't have huge funds to build your own office, you're considering the idea of leasing one.

You just made the right choice.

Leasing an office space is definitely a wise move if you're a start-up. For one, you wouldn't have to wait a long time for the construction to finish since you already have one ready for occupancy. Leasing isn't also as expensive as building, not to mention there's a lesser amount of work going into planning, designing and supervising the construction process. Most of all, leasing an office space gives you the convenience and advantage of doing business in a good location, especially if you opt for an office space in Makati that's located in the business district.

Now if you have little or no idea about leasing an office space, here are some pointers to help you get started:

• Set a budget first

Image Source: Budget

You probably know by now how pricey a start-up can be. With all the things that you need to spend on — applying for a licence, purchasing equipment, hiring employees and what not — you really have to be wise with your finances, especially since revenues will not start coming for the first few months of your business. This is why it pays to set your budget before you start looking for office space options. Having a spending limit will help narrow down your choices and keep you from choosing a workspace that will only eat up a huge chunk of your capital.

• Search for good business locations

The good thing about leasing an office space is that you'll have the opportunity to do business in great locations without having to spend so much for it. For instance, if you're planning to start a business in the Philippines, Makati would be the best location for your office since the area is where most businesses are. Therefore, it's very important to search for a good business location so it's easier to find an office space for lease in that area.

• Find a credible leasing company

Unlike building your own office space, leasing means that you have to build a good relationship with another company to ensure that your operations will run smoothly and not get yourself at risk of being kicked out of your office space any time. Therefore, it's very important to find a credible leasing company that will not only give you good options but also guarantee you of a good partnership.

• Think about the future growth of your business

Image Source : future growth of your business

Before choosing an office space to lease, it's very important to consider the future growth of your business. The fact is, leasing a small workspace may be good for you now, but if you're planning to hire more people in the next few months, then it would be better to opt for a bigger office space. Keep in mind that when you're leasing a space, you would have to commit to staying for a number of months or even years. Therefore, it's wise to consider your plans before finalising your office space lease.

Now that you have these pointers in mind, you can already start looking for your perfect start-up office space.

About the Author:

Regus is a multinational corporation with business centres in 99 countries. Their branches in the Philippines cater to the needs of start-ups in Cebu City, Makati City, Manila, and Pasay City.

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