Once the decision has been made to look for an office space for lease, the next question to be asked is this: can you afford a quality office space for rent, and that question is closely followed by what will it cost?
Hopefully, this article will help to answer the second question. The first question, can you afford it, can only be answered by you.
We are the Fort Worth Design District, an exciting new business enclave in the Alliance Area of North Fort Worth. Call us at 817-439-3224 for more information about the office for rent we offer in The District.
Now, though, let’s look at the costs you will face if you should decide to rent office space.
The first cost is the obvious one
The first cost is the office space rental cost, and it will differ depending upon the size of the office you rent and the location of that office. The rental cost can range from as low as $500 per month to a few thousand. To give you a reference point, we have offices for rent in the Fort Worth Design District for as low as $875 per month for a 320 square foot space. We also have coworking space (shared office space) starting at $450 per month plus utilities, which you would rent on a month-by-month basis, and we will talk a bit more about that option a little later in this article.
The secondary costs are easily ignored by those looking to lease office space, but they are costs which add up quickly. These would include utilities, WiFi, furniture for the office space, new business cards with a new address, signage, a marketing campaign announcing your company’s physical move, and any decorations you deem necessary for the new office. You can add insurance that total as well.
Can you afford it all?
Again, we can’t answer that question. There are many variables, but one thing that is not a variable is your working budget. You know what you can afford, and our suggestion to you is to not budge from that bottom line figure. Far too many businesses fail because they ignore the limitations of their budgets.
There are, however, some options you might consider.
Options to renting office space for lease
We mentioned on such option earlier, namely coworking space. Perhaps you don’t need a full-time office. Perhaps you could function quite nicely by simply renting an office a few months per year. In the situation we mentioned earlier, at Paddock Place Office Suites, we rent coworking space for $450 per month utilities included. The $450 per month is basically the only fee you are charged in such a situation, making it a very affordable option.
You might also consider sharing office space with another company. This is a popular option of late, and cuts your expenses in half for many companies.
There are options, and our suggestion is that you consider them all before diving into the commercial and industrial space for lease market. If we can be of assistance in the Fort Worth area, call us and we’ll talk over your options with you. We are the Fort Worth Design District, and we are quite confident we have what you need at a price you can afford.