You can scour the internet for leasing office space options, and every single ad will give you the square footage costs, or a monthly cost, to consider. The ad will look something like this: “Outstanding opportunity, office space to rent, in great commercial area, only $1250 per month for spacious, high-traffic location.”
But that is only a small portion of the actual cost of leasing office space, and it is that “actual cost” we want to discuss in this article. “Forewarned is forearmed,” or so the old saying goes, and our goal here is to forewarn you about the actual costs involved in an office space for lease.
We are RDS Real Estate, leading the way in industrial and commercial property for rent in the Fort Worth Metro area and Tarrant County, Texas. Call us at 817-439-3224 and speak to one of our leasing agents about your specific needs.
Now, let’s talk about those costs which await you when you rent office space.
Starting out vs relocating
Starting out in business is always more expensive than relocating. Some of the expenses mentioned below will already be taken care of if you are simply relocating. We only mention that so you will be aware of it moving forward.
Professional services
Starting out or simply relocating, you will need the services of a lawyer, an accountant, and an insurance company. Yes, these professional services can be expensive, but not nearly as expensive as losing everything. Protect yourself from Day One and you will be happy that you did.
What will these professional services cost you? It’s impossible to estimate in this article; shop around and find the best option for you in your particular area. And make sure you plan on licensing fees and permits when estimating monthly costs.
Interior costs
Furnishings, utilities, janitorial services, WiFi, a WEB page, interior signage, business cards and stationery, and inventory if you plan on selling product from the office. Do you have a receptionist? Other employees? A break room? You will need supplies for the break room and rest room.
Go over every square foot of that commercial property for rent and jot down everything you will need for it to be operational and usable. Then do your homework and find out what it will cost to make it operational/usable.
Exterior costs
Most of these costs will be the signage you use outside. What will it cost to beautify your exterior and make it attractive to customers? And included in this should be your advertising expense. How much are you going to spend on advertising? What methods of advertising will be most effective for your business? If you have a tight budget, familiarize yourself with guerilla marketing techniques. The more creative you become, the more money you will save.
Estimate high for protection
Before you ever open your doors for business, expenses should be estimated, and it is our experience that the initial estimation is almost always too low. There are always unforeseen expenses which pop up in the first month or two. For that reason, estimate high, say an additional ten percent, and that way your business it protected from the unforeseen. The old saying “what you don’t know can hurt you” is very accurate in business, so protect yourself by planning for the unknown.
We cannot say this enough: take your time estimating operating expenses. Go over it and go over it again. The more time you spend on this aspect of business, the better-prepared you are once it is time to hang up your “Open For Business” sign.
A word about RDS Real Estate
No matter what you need, an office space for lease, a warehouse for rent, a retail space for lease, if it is in the Fort Worth Metro area, we can find it for you. We are experts at matching needs and availability, so call us and speak to one of our leasing agents today.