Saving Money on Your Start-Up Business
One of the biggest investments for any business is purchasing/renting and running on a business premise. This can be extremely costly and make life difficult for those who are just starting out. The thought of finding money upfront for surveys, rental costs and purchase costs is daunting enough, but on top of this, you have to consider the cost of maintaining the premises, ensuring it is safe and structurally sound and dealing with bills.
Fortunately, there are some alternative solutions for those who want to save money when it comes to their startup business. Thinking outside the box can help you to not only slash the cost of finding suitable premises from which to run your start-up, but will also save you a huge amount of time and inconvenience, not to mention stress. Of course, there are various factors that you will need to take into consideration in order to determine the most cost-effective way to sort out your business premises, but by doing this, you can find a far more suitable and affordable place.
Some alternative options are available
There are a number of alternative options that you can consider if you want to save money on the cost of your start-up. Some of the popular options you can consider include:
Opting for serviced office space: This is a popular solution for those who want a professional business space without having to pay a lot of money for their own dedicated building. With this option, you can rent out a serviced office space, which means that you won’t have to worry about structural surveys, furniture, equipment, maintenance, bills and rates. You won’t even have to worry about hiring cleaners and reception staff, as all of this is provided as part of the package. This means that you get to benefit from the convenience and ease, as well as the affordability. You will find serviced offices in locations all across the world, which means that no matter where you are operating from, you should find a suitable solution to meet your needs and fit within your budget.
Storage units as a base: Another cost-effective option is to operate your business from a storage unit. Again, these can be found in locations all around the world. Many people now use storage units as a startup business base depending on the nature of the business. For instance, if you need a workspace from which to operate as a web designer or a tradesperson, this can be ideal. You can also use this type of premises for businesses such as selling and buying – many eBay sellers use storage units to store their stock. You can enjoy around the clock access to your unit, even with Internet and other utilities arranged if they do not already come with what you need.
Set up a workspace at home: A third option is to set your business up from home. This is generally the most suitable option for individuals who don’t need access to a lot of resources. However, you can also operate with a team of workers by running your business remotely, which means that all of your employees will also be based from home. This is a great way to avoid having to worry about the cost of premises or travel expenses. The less time you have to spend traveling, the more time you have to focus on running the business.
What to consider
In order to determine the best option for your needs, there are a number of factors that you should consider. These include:
- Your business budget: You need to consider how much you can afford to pay on rent for a storage unit, serviced office, or setting up a home office. Therefore, you need to take your business budget into consideration
- Available space at home: You should also look at the amount of space you have available in your home to determine whether it will be adequate for your needs. This will enable you to decide whether this is a viable option for you
- Location of services offices and storage units: Another key factor to consider is where the nearest suitable serviced office or storage units are, as you can then decide whether the location is a viable option in terms of travel
With a wide range of alternative options available to those looking for business premises for a start-up, you should be able to find a solution that is suited to your needs and pocket.