When starting a small business, you might be operating out of your small home office for a while. But eventually, your growing business may need its own space. Here are some signs of when it’s time to move to a commercial office space, as well as what other workspace options exist for small business owners.
In general, it’s most likely time for office relocation of your home-based business when:
If any or all of these apply to your business, it may be time to consider moving out of your home office to a more dedicated workspace.
While getting a traditional office space is usually the next move for growing your business, it might be an unnecessary expense. In addition to monthly payments to rent or lease the office building, you’ll also have other building and business expenses—including utilities, maintenance, furniture purchases, and other overhead costs.
Fortunately, there are options for small business owners who don’t want to work from home but can’t afford a traditional office:
Unsure where to start looking for office space for your expanding business? Start by asking yourself a few questions to visualize what kind of space would be right for you.
If keeping expenses low is a priority for your business, consider coworking spaces or shared office options to save money on overhead costs. Or opt for a more private trial run of relocating your small business, and rent office space from a self storage facility! If, however, you have some room in your office relocation budget, consider leasing or buying a commercial building.
Think about how much physical room you need for business operations. Do you have an online or e-commerce business with a lot of business inventory coming in and going out? You may want to think about renting business storage rather than an office building. Conversely, if your customer base is primarily in person, a physical storefront or commercial office space will offer a more private, professional setting than a coworking space or home office—especially if you’ll be discussing sensitive personal or financial information with your clients. When browsing commercial real estate in your area, it’s ideal to select a location that’s visible from the street and easy for customers to find.
If possible, plot out your next five to ten years of targeted business growth—this can help you gauge what type and size of office space can accommodate your business needs. If you’re growing much faster than you’d anticipated, have excess inventory, or need several workspaces for employees, it might be smarter to invest in a larger commercial office now. This could potentially save you from complications like being stuck in a space that’s too small, having to break your office lease early, or spending time and money on having to move again within a short span of time.
Need a small business storage solution? Extra Space Storage has convenient self storage facilities throughout the U.S. that can help you manage your business operations more efficiently. Find commercial storage near you today!
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