Is it possible to cut costs with shop space for rent?
The words “cutting costs” should be enough to gain your attention. Who doesn’t like cutting costs? Homeowners and business owners alike are always looking for viable ways to improve their bottom lines, so today, in this article, we will toss out a few suggestions about cost-cutting when renting shop space. We are RDS Real Estate, serving the Greater Fort Worth Metro area, as well as Parker and Johnson Counties, with quality, affordable commercial and industrial property for rent. Call us at 817-439-3224 for more information about available shop for rent properties.
What is shop space for rent?
The actual definition of a shop is a bit confusing in the real estate industry. Websters gives us these definitions for shop:
- a building or part of a building where goods or services are sold; a store:
“a card shop” or “a barber shop”
- BRITISH ENGLISH
informal
an act of going shopping:
“she slogged her way around the supermarket doing the weekly shop”
- a place where things are manufactured or repaired; a workshop:
“an auto repair shop”
- a room or department in a factory where a particular stage of production is carried out:
“the machine shop”
- short for shop class.
“I got an A in shop last year”
Using that as a guide, we surmise that a shop space or rent is either commercial or industrial space, depending upon what it is used for; the general use of the word refers to smaller properties than, say, a warehouse for rent.
How to cut costs when looking to rent shop space.
There are several alternatives when looking to rent a shop space for rent. We have learned over the past decade that “innovative” and “creative” are highly valued in the business world, and there are numerous options with regards to commercial and industrial properties.
Instead of listing all of the alternatives for a shop space for rent, we will give you two examples found in our Fort Worth area; we will then leave it up to you to do the detective work in your area.
Many self-storage companies are now renting storage space under the label “small shop space.” These units are usually 200-300 square feet in size, and they are perfect for a one-person enterprise i.e car detailing, woodworking artisan, etc. Business cannot be conducted in these “shop,” but the production/manufacturing work certainly can, and the rental cost is considerably less than traditional industrial space for rent.
One other example we would like to share, in our area, is a business park called Box Office Warehouse Suites, an industrial park made entirely from refurbished and professionally designed used shipping containers. Each unit for rent is 320 square feet in size, many come with loading docks, all have bay doors, and the cost is lower because the construction costs were lower. Perhaps there is something similar in your area that you might consider.
Botton line: Traditional still rules the real estate world, but non-traditional is increasing in market share, and perhaps you can find a much less expensive options through a little detective work.
How to cut costs once rented.
We are going to share some generalized suggestions rather than listing specifics, because cutting costs in business, we believe, is all about adopting a thrifty mindset.
Cutting cost is all about need vs want.
Get out your pruning shears and start cutting the excess from your company. Do you need an office, or would remote work produce the same results at a much lower cost?
Are you carrying excess inventory? Can you cut items and still be fluid when meeting demand?
Do you need the latest gadgets or are you simply mesmerized by flashy, new things?
What else can you cut? Sit down and look at every facet of your business. Surely there are things you do not need. We know this to be true because we are convinced it is true with all businesses, big and small.
Get down to basics and increase your profits. It does not take magic to do so; only determination and willingness.
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated. Call us today and put us to work finding the industrial property or commercial property for lease that fits your specific needs and budget. With over three million square space of properties, we are confident we have what you need.