In years gone by, and not that long ago, anyone looking to rent private office space was looking at a minimum investment of $1,000 per month for rental fees. In addition, secondary costs like utilities and other necessities would eat a hole in an operating budget very, very quickly. It was not only a daunting task, to obtain private office space, but it was beyond the financial capabilities of most small business owners.
Things have changed! An office space for rent does not have to break the bank and sink a budget, and, in this article, we are going to tell you how it is possible to rent private office space on a small operating budget. We are Paddock Place Office Suites, rocking the Fort Worth business community from the Fort Worth Design District in North Fort Worth. Call us at 817-439-3224 for more information about our outstanding office space for lease opportunities.
And, now, we are going to save you some money and tell you about coworking space.
A look at the past: traditional office space
You know what the tradition looked like when attempting to rent office space. You not only paid a steep monthly rental fee, oftentimes over $1,000 per month, but you also then paid for utilities, WiFi, signage, furniture for the office, insurance, and other incidentals. Not only did that office cost you a steep rental fee, but you also had to pay thousands of dollars in preparation/decoration costs, and your monthly expenses were closer to $2,000, or more, rather than the rental fee of $1,000.
Truthfully, using this formula for renting office space, it is a wonder any small business could survive. Overhead of a couple grand will sink many a small business, and we found that to be true during the pandemic years of 2020-2022. “Office for rent” signs popped up all over the business landscape, as did “out of business” signs.
Tough times call for creative solutions.
A look at the future: coworking space
One such creative solution is called coworking space.
Coworking is a business innovation where employees/executives from various companies all rent single offices in a general area. Instead of ABC Company renting a stand-alone office, they instead rent a single office in a building which also has offices rented by GHI Company, TJK Company, and ten others.
The rental fee for a coworking space is considerably less (at Paddock Place Office Suites, currently $550 per month), and that monthly fee covers the cost of utilities, WiFi, furniture, mail box, insurance, shared conference room and shared break room.
Compare: the traditional rental would cost several thousand dollars per month; the coworking space would cost less than $600 per month.
Which sounds better to you, the small business owner?
It is now possible for small businesses to look professional
Don’t for a second think this is some flighty idea which will crash and burn in the span of a couple years. This is actually a movement which is gaining momentum and is becoming quite popular among small business owners, home-based business owners looking for a professional face in the community, and traveling executives who need a work space for several weeks in a strange city.
Coworking is, literally, the wave of the future of private office space in America.
A final word about Paddock Place Office Suites
In Fort Worth, that wave of the future flows through Paddock Place Office Suites, found in the Alliance Area of North Fort Worth, smack dab in the middle of the Fort Worth Design District. Call us about availability. Rent month-to-month, no long-term commitments, we are here when you need us.