In the traditional business world, keeping costs down on office space rentals is a bit out of your hands. The rental fees are what they are, determined by the local commercial real estate market, and there is very little you can do about that massive creature known as Supply & Demand.
However, there is an alternative, one which is much-less expensive than the traditional approach to an office rental, and it is that alternative we will talk about in this article. We are Paddock Place Office Suites, located in the Fort Worth Design District in the Alliance Area of North Fort Worth, and we believe we have the answer you are looking for, especially if you are constrained by a tight operating budget. Call us at 817-439-3224 for more details.
But now, let’s talk about keeping those costs down on an office space for lease.
The cost of traditional office space rentals
Traditional commercial property for rent is priced according to the square foot. For example, if you are renting a very normal, traditional office space for rent in a traditional office building, or some free-standing office space in a strip mall, and that office space is one-thousand square feet in size, and the rental cost is $1.50 per square foot, you will pay $1500 per month for rent.
But that’s just the beginning with a traditional office lease. You will tack onto that monthly fee the price of utilities, the cost of signage, the cost of furniture, the cost of WiFi, seemingly ad infinitum, with your final monthly tally doubling or even tripling from that original $1500 per month.
The question, then, is this: Can you afford rental costs of $4500 per month, plus start-up costs of $5000 or more? Most small businesses simply cannot afford that kind of financial burden, and that perfectly illustrates why you see so many abandoned office buildings with “For Rent” signs in their windows.
The cost of our alternative office space rentals
Our alternative approach to office rentals is called coworking space, and it simply means that you rent an office suite only when you need it, for a flat monthly fee, currently starting at $550 per month. Included in that fee are all utilities, WiFi, security, private mailbox, everything you would need to conduct business. The key to all of this is you only rent on a month-to-month basis, when you need it, and you don’t incur all of the start-up costs and expensive monthly rental bills.
Can you live and function in coworking space?
The question, then, is this: Can you work in a cooperative atmosphere, where other business types are all renting individual spaces, and sharing break rooms? Coworking is not like walking into your own private building. You are sharing space with others under the coworking philosophy, and some professionals find that to be a difficult transition.
So, what about you? Can you live with that trade-off, considerably less expense but also less privacy?
A final word about Paddock Place Office Suites
If you can live with that trade-off, and you live in the Fort Worth area, we have an office space rental for you at Paddock Place Office Suites. We are locally owned and operated, and we are always on the lookout for creative, professional individuals who are looking for a bit of relief in the expense category of their ledger. Call us today and ask us about availability. We would love to have you as a creative neighbor.