At some point in time, the good Lord willin’ and the creek don’t rise, that home business of yours is going to become too successful for your home space. It will, in other words, outgrow your home, leaving you with a difficult decision: rent retail lease space or possibly purchase retail space.
There are a few things to think about before you pull the trigger on that decision, and in this article, we will provide you with some of the more important bullet points. We are RDS Real Estate, serving the Greater Fort Worth Metro area, as well as Tarrant, Parker, and Johnson Counties, with outstanding industrial space and commercial property for rent. Call us at 817-439-3224 for more information.
The beauty of a home business.
If you currently own a home business, you already know what we are going to say; for those who don’t own one, but are thinking about it, here are the advantages in a nutshell:
- No sizeable expenditure on retail lease space or retail purchase
- Saving time and money by cutting your commute
- Flexibility around the hours you work
- Avoiding the distractions and noise of the workplace
- More personal freedom
- Keeping the money you make
- Increased opportunity
- Less risky than starting a brick-and-mortar business
Taking it to the next level and retail space for lease.
The pros and cons of such a move to retail lease space.
It’s only fair, then, that we take a look at the disadvantages of a home business:
- Difficulty keeping work and home-life separate
- Domestic distractions and interruptions
- Lack of contact with other people and businesses
- Working long hours
- Municipalities regulating home-based businesses, and particular neighborhoods may have covenants against them
- Isolation and feeling out of the loop
- Interfering with family life
- Difficulty in meeting with customers
- Neighbors might not appreciate the traffic
- Costs incurred when using home utilities and equipment for business purposes
Despite those drawbacks, the statistics about home-based businesses do not lie:
- Fifty percent of U.S. businesses are home-based businesses. …
- There are roughly 15 million home-based businesses in the U.S. …
- About 60% of home-based businesses are “non-employer” businesses. …
- Sixty-nine percent of startups are home-based businesses. …
- The information and construction industries are far more likely to be home-based businesses than other industries. …
Which leaves you with the big question: to lease retail space for rent, to buy retail space, or to continue doing what you are doing, working out of your home, but possibly stifling future growth?
And there is no simple solution to that dilemma.
If we were forced to give our opinion, and money was not a major concern, we would suggest renting retail lease space rather than purchasing it and renting retail space rather than working from home. We think the advantages of doing so far outweigh the disadvantages, and we believe that option provides you with the best possibility for future growth.
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated with over three-million square feet of quality and affordable industrial space and commercial space for lease. Call us today, talk to our leasing agent, tell them what you need, and then turn us loose to do what we do better than any other commercial real estate broker in Fort Worth.