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Sole Proprietors: Finding Affordable Office Space Away From Home


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7/21/2014
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As appealing as it may sound to stop commuting and wear a T-shirt and jeans while running your business from home, that’s not always the best option for some sole proprietors. For example, if your spouse is taking care of your small children at home and you need plenty of peace and quiet so you can speak with clients over the phone and handle various business duties, you probably need to rent some office space elsewhere.                                                    

Fortunately, many larger cities now have numerous freelance workers and others starting their own companies who need to regularly rent or lease a limited amount of office space. If you can connect with those who have business space needs similar to your own, everyone can save money. Here are some ideas to help you find the best work setting for your needs.

Finding the Best Office Space Arrangement to Suit Your Work Style, Needs, and Budget

  1. Business incubator” situations. Although this trend may have started in places like California’s Silicon Valley, it’s now fairly easy to locate “business incubators” all around this country. According to one recent Forbes magazine article, “Real incubators are part of an overall entrepreneurial ecosystem that creates an environment that increases the chance of a company’s success.  They are not the cure for all entrepreneurial ills nor should they be.  They have a specific role in the development of the entrepreneur.” If you’re open to some skillful mentoring and want to work around others who may be pursuing similar business interests, you may want to pursue this type of office space;

  2. Professional leasing groups can find freelance space for you. You may want to contact one of the many companies that now exist just to connect sole proprietors and others with available office space for short time periods. One such group is called “ShareDesk.” Of course, you’ll want to compare prices with their competitors and see which one can best help you locate the type of office space you really need;

  3. Subleasing space from other businesses and offices. Many law offices, accounting firms and banks often have a spare office or two they might be interested in renting to you for a reasonable sum. If so, ask if you might pay a little extra so that their receptionist can take messages for you and if you can use various office machines. They may also let you use an available conference room when one is available;

  4. Rent or lease space with others, even those in different professional fields. Try contacting various friends and business associates to see if anyone else needs to rent or lease some shared office space.  Also, checkout online websites and local newspaper blogs and ads that may address this need. Regardless of the time period covered by the lease or rental agreement, be sure all of the most important terms are set forth in a signed contract. No one should be forced to pay rental or lease fees for others who have suddenly vanished. Consider having each person put a deposit down with the rental agent or lessor, (clearly noting this in your contract), which can help minimize the damages if others leave sooner than expected;

  5. If you’re pressed for cash, don’t forget your local library and nearby university libraries. While these places certainly won’t offer you a receptionist or any other basic rental office amenities, they often do set aside a significant amount of Wi-Fi space for patrons. Furthermore, “silence” has long been a special virtue of libraries. However, this is often best viewed as a short-term solution while you keep looking for a more permanent place of your own to work.

By thinking creatively, you should be able to find the exact type of office space you need. However, give serious thought to taking your laptop, cell phone and other personal belongings home each night since such valuables often tend to “disappear” rather quickly when no one is around to guard them.

To obtain help with handling all of your Georgia business planning needs, please contact the Law Offices of Shane Smith today.  You can schedule your free initial consultation with a knowledgeable Peachtree City estate planning attorney by calling: (770) 487-8999.



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