Home Office Alternatives – Why or why not?

There are many strong arguments in favor home office alternatives, especially renting your own office space. This is especially true when starting a professional services firm, even if the firm is a single employee company. A professional office space, as apposed to a home office, gives the firm a market presence while ushering in discipline to your daily routine, thereby enabling the professional to feel more like a business owner rather than just a self-employed small timer. These advantages will in turn increases the chances of success.

Based on my own observations, small firms and solo professionals which occupy dedicated office space outside of their home office will see their businesses grow more quickly than if there were to keep a home office only.

As an experienced tenant side commercial real estate broker, I can understand how expensive an office seems when starting out, especially when faced with all of the uncertainties and inconsistencies with business income. But thanks to legal-lease, you can now find an office space in Chicago, New York, Boston, LA, and many other primary and secondary markets. Many of these offices will rent for as little as $300 per month. Sure, a Chicago office space or a New York office space will cost twice that amount or more, but believe me when I say that with a little persistence, you can find a space to meet any budget.

Technology has enabled many professionals to move around quite freely as cloud based file storage and other mobile friendly technologies have lessened the need to maintain a fixed long term office space. Shared office space will enable your firm’s growth much more than a virtual offices, with only a slightly higher cost. Other options include; incubators (good for start-ups) or executive office centers, and Coworking centers. Warning! Be careful of what you are signing up for, because many executive offices and coworking centers have many hidden fees.

Whether you need a shared office on a short term or long term basis, or an alternative arrangement like an executive office or a coworking space, you will find a wide range of terrific options. If you need any help, you can always contact a tenant side broker to help shop your requirements to the local commercial office market of your choice.

March 21, 2017 Facebook Twitter LinkedIn Google+ OpenSpace3