Are you a small business owner with plans to expand your business out of your home office? Have you been discouraged by the idea of committing to a lease term that is for several years? There may be short term office space options available in your area that could be more appropriate for your business’s needs.
Take On Less Risk
Many business owners postpone moving out of their home offices because of the long term commitment that a commercial space usually requires. Commercial spaces commonly require three to five year leases, and that is on the shorter end of the spectrum. This kind of commitment is a big risk for a small business on a tight budget.
A short term office space can alleviate many of the concerns about expanding a business. If your lease is for one year or less, you can “test the waters” so to speak much more easily than with a multi-year lease.
Ability to Adapt to Change
An important part of the success of many businesses is how well they can adapt to change. The ability to easily adapt to changing circumstances can make or break a small business. A lease that locks a company into a space for three to five years can hinder the growth of the business. Do you know what your business will look like in 4 years?
Although it would be great to have the ability to see into the future, the truth is no one truly knows what a business or even an industry will look like years down the line. What if your business expands to a point where your current space can no longer accommodate all of the employees and equipment necessary? This is why a short term office space with options to renew at the end of the lease term is the safest route for a small business looking to expand.
A short term office space lease allows you to focus on growing your business without worrying about whether or not your current location will hold your business back from its potential. It also allows you to have commercial space at a much lower level of risk than a multi-year lease.