If you are a small business owner, it can be an exciting thought to lease an office space. It provides you with a professional look, saves you a lot of money, improves productivity and team building. But, it is also a good idea to be aware of some hidden costs when renting an office space. The pointers below might help you do a reality check.

 

Commuting:

When we are working from a home office, all we have to commute is from one room to another. However, once we start working from an office space, we need to remind ourselves about the cost of commuting. Not just the cost of gas, but also how much time does it take to reach the office. Do you want to start your day battling the traffic which would drain your mental and emotional energy ? The location of the office space is definitely important.

 

Child and Pet Care:

If one of the spouses can afford to stay home and take care of the kids, that is a BIG blessing! Otherwise, child care or pet care might offset the savings you make when you rent an office space.

 

Food & Drink:

There is a high chance that we might succumb to some peer social pressure to go out for lunch. If it’s once a month, not a big deal, but if its 2-3 times a week, the costs will slowly add up. We need to make a conscious decision to say NO to eating outside and be disciplined to pack our own lunches. Also, think about the amount of time it can save. Eating out will take at least 40 mins to an hour.

Same thing applies to snacks. It is very tempting to walk to a vending machine and quickly get a soda or a snickers bar. But if we have a jar of nuts or some crunchy veggies right next to us, that will make us healthy, wealthy and wise !

 

Furniture & Office Supplies:

If you are planning to move your existing furniture and office supplies at home to your office space, then there is no cost involved to it. Else, you have to consider the cost involved in buying  new furniture, printer/scanner, stationary, etc..

 

Clothing:

No, you can’t work in your pajamas anymore. Personally, I would dress up well and groom myself even if I was working from home. It gives me a whole different attitude compared to working in my pajamas.

But, if you are working from an office space, you will definitely need to dress one notch up compared to staying at home.

 

Long Term Costs:

Over a span of a year or two, think about the rent that you would be paying for the office space. Could that money be better spent elsewhere ?

Reach out to Executive Suites Chandler office spaces and see if we can help you in eliminating some of the hidden costs.