After a business model is established, the work force is hired, and equipment purchased, the next sensible step is to find a place to get that company running and earning. Finding a proper Plano office space is the toughest part of establishing a business. In most cases rent is in the top three of office expenses; interestingly despite the huge dip in residential real estate values, the demand and cost of prime commercial space remains strong.
In order to be successful, careful planning should be done when it comes to selecting the right office. It is important to match the size of the leased space to the type of business structure, as the needs dictate.
- Home Office – With the advent of powerful internet connections and hardware has come the freedom of working right in the comfort of home. If the business doesn’t call for regular client interaction, this setup is the most cost-effective workplace solution. Conferences between employees and transmission of documents can be carried out online.
- Business Incubators – Small companies that are still trying to determine viability would greatly benefit from business incubators. This is a low-cost business solution that provides all the basic services required for a typical starting business including space, management and financial assistance. Once the business gains foothold and matures, it can then transfer to a location better suited to the business.
- Hotel Locations – Companies that have employees on the road most of the time can benefit with using hotel space. This arrangement is popular in the consulting and financial fields. In this kind of setup, a workplace is booked and made available for the time while the employee is in the area.
- Executive Suite – When dealing with employees or meeting with clients face-to-face on an occasional basis, companies can greatly benefit with executive suites. This is a cost-effective way of utilizing work space. Basically, the location comes with facilities such as meeting rooms, reception area, private offices, and equipment. Because the space is shared by other tenants, utilizing it means that it has to be booked in advanced
Things to Consider
Keep in mind that not every business model will work well with a non-permanent workplace and may require a dedicated work space. Here are some criteria to use on when considering a low-cost workplace.
- Meetings – How often does a client visit the office for meetings or a presentation? These things vary depending on the type of business. Some clients may prefer a teleconference while others need that face-to-face meeting. Determine the client needs regarding meetings before deciding if the upkeep of a permanent office is justified.
- Creativity – Employee collaboration and brain storming is important to almost every type of business; it is a way for them to come up with better ideas and stir up creativity. Of course, this can also be done online. Consider when and how often such collaborative meetings take place. If it doesn’t occur on a regular basis, then temporarily leasing an executive suite rather than a permanent workplace may be a cost-effective solution.
- Storage – Businesses that handles physical material such as products and documents need a physical storage space to secure such things; however, there is also the consideration of ‘soft’ copies that can be conveniently stored on hard discs or even through a centralized location like cloud computing. This eliminates the need for leasing a physical storage location and reduces operation cost.
Leasing Plano office space is expensive and should be carefully considered so that all opportunities are efficiently utilized. Listed above are flexible workplace options for businesses that don’t require a regular physical office location. By sharing an office with other businesses and utilizing the space efficiently, leasing expenses can be greatly contained. Find the option that is closest to meeting specific business needs and save money with that option!