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Intro:
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Business projections and a budget (so you'll have a clear idea of what your business can afford) A commercial real estate broker or agent A lawyer to look over the lease before you sign it |
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| One to three months from the beginning of your search to move-in, depending on the real estate market and your needs |
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An office of one's own If your business has officially outgrown your spare bedroom, we congratulate you. Now the trick is to find an office that will keep your business growing, whether it's on Wall Street or Main Street. Sounds simple, but you'll have to balance several factors--size, cost, location, and services--to find the right equation for your business. We'll explain how to find the correct mix so your business stays on track.
Renting commercial space is a lot like renting an apartment--just more complicated. First of all, you have to consider not just your own needs, but also those of your clients and employees. Further, offices tend to have more complicated infrastructure needs, from wheelchair accessibility to souped-up wiring for phone and computer networks. Finally, leases tend to have many factors to consider (and negotiate), from length (which can range from one to five or more years) to infrastructure improvements your business may require. As a result, novices should seriously consider the services of a commercial real estate broker. These professionals can help you define your needs, find appropriate rental properties, and negotiate a lease that takes your best interests into account.
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