Building a business of your own is expensive. Deciding who to hire, production development, the best materials to use, the equipment you’re going to need, and the services you’ll have to subscribe to – the numbers really add up. And this doesn’t even mention the fact that you’re going to need a business workspace to run the entire operation out of!
Renting a workspace for your business can cut out a lot of that hard work.
From a simple co-working space to a bespoke solution, you can set up in premises that are perfect for you without needing to pay the associated high cost bills or any commercial property taxes. In terms of efficiency, security, and growth, a rented workspace can act as a one stop shop whilst you get established. Don’t just take our word for it. Here’s what you need to know about finding the right space for getting your business set off on the focused foot.
The Benefits of Renting a Business Workspace
If you want to grow your business fast, one of the most revolutionary steps forward is to rent a business workspace. When you’ve got a dedicated building to run your company from, taking it out of your home and giving your employees a space to work together, you can benefit from greater collaboration.
But that’s not the only benefit of hiring such a space. Here’s just a few of our top picks that can drive up your operation’s efficiency and security.
A sense of professionalism for your startup
When you look like a professional, people are going to treat you like one. And we’re not just talking about customers here. Other business owners, potential investors and future shareholders, and anyone just walking by is going to see you as a legitimate operation. For someone who’s only worked out of their home office before, this can be the number one challenge to beat to accelerate your growth.
A flexible working space for your employees
Flexibility is a secret factor for long term security. You know why? Because it reduces employee turnover whilst giving you a base where your most sensitive data can be entered and stored. You can keep trained employees around for longer, maintaining your systems and allowing you to focus on lead acquisition and taking your company to the big leagues.
A flexible workspace gives you the chance to coordinate in a far easier manner. You know where your employees are and what they’re up to, and can grant flexible working hours and holiday leave without missing out on any other considerations.
A chance to network
If you have a business space adjacent to other businesses in your area, you have a much better chance of networking. It’s always easier to impress in person, and being face to face gives you so much more of a clue about how someone else is feeling. If you want to build your business in record time, rent out a workspace just for the increased networking opportunities!
Access to other downtown locations
Similar to our point about networking, you also have much greater access to other downtown, central locations when you’re renting a workspace. You’re in a prime position in a place where you can receive rather heavy footfall and notice from incoming and outgoing customers alike. If you want to maintain a healthy bottom line in your first few months of business, setting up downtown next to other businesses and revelling in that culture is the way forward.
No accelerated costs of finding your own premises
Quite possibly the main reason you should rent a business workspace. You don’t have to buy a place of your own, meaning you save a lot of money in the initial stages of running your business. The average commercial rent in the UK is anywhere between £10 and £50 per square foot, meaning per year you can save thousands on a commercial mortgage. Even just borrowing £25,000 can take upwards of 20 years to pay off; you can never be sure when you’ll have a good month or a bad month!
What Workspace Should You Rent?
Now you know just how useful a rented workspace can be, it’s time to decide what workspace would be best for you. First, think about the business you’re running and what premises it would be suited to.
If you’re a hairdresser, for example, you’re going to need a large yet cosy space for your employees and clients to settle into. This means you need a reception area, plenty of room for mirrors, chairs, and washbasins/seats, and the ability to move without bumping into ‘oncoming traffic’.
For most businesses, however, the standard unit to rent is an office space. Let’s go through that and other typical rented workspaces and see how they can be used.
The office space is fairly standard across the business world. For those in Leamington, Evesham, Rubery, and Stowmarket, this will be the number one, in demand workspace. Renting out an office gives you a chance to establish a regular working schedule, and gives you plenty of room for co-working. This is where your team can use their initiative, and you have the chance to get to know your employees.
A warehouse space is good for those businesses with a large inventory. If you’ve got nowhere else for your product and equipment to go, store it in a secure space that only you and authorised employees can access.
A shop front is another commonly rented workspace. If you want to sell one to one to customers, you can use this space from day one to refine your customer service skills. Plus, a shop front can also easily be attached to an office space, giving the different teams within your organisation dedicated areas of their own.
Running a cafe can be hard at the best of times. You need to rely on footfall and word of mouth marketing to bring new customers your way – the proof of the pudding is literal here! But you can set great expectations for your business if your cafe premises look good and feel great to dine in.
The average cost of setting up a cafe in the UK is anywhere between £25,000 and £100,000. The majority of that will go into your physical assets. However, before you fork out that astronomical amount of money, think about working with a business workspace company to keep the costs down. It’s honestly the most efficient use of your funds.
Bespoke solutions at Squab Workspace enable you to set up and run the cafe of your dreams. From our selection of spaces, containers, outdoor seating areas, and design materials, we can help your cosy cafe or delicious diner dreams come true.
If you have a flexible business idea, such as an outdoor gallery, eatery, or anything else where you want a lot of green space and fresh air to thrive, you can also rent a workspace that’s perfect for your needs.
Pop desks out there to give your employees a sunny new lease on their work, set up umbrellas and parasols for working lunches, and use cut wood, signs, and 3D printed decorations to set your logo and brand name up high. The more visible you are, the more chances for growth you’ll get.
Once you’ve rented a business workspace, it’s yours to do what you like with. You really can make it feel like the central hub you’ve been planning for all along.
Rent a Business Workspace From Squab Workspace
Squab Workspace is a workspace solutions company, suitable for any and all startups, small businesses, and new enterprises. If you’re an entrepreneur and you need somewhere to set up an office, or you need a warehouse for product storage, or you’d like to open a cafe and need a suitable space for diners, we’ve got the bespoke solution for you.
Whether you’re in Leamington, Evesham, Rubery, or Stowmarket – or any of the surrounding areas – you can get in touch regarding local business premises.
Use our website to enquire, tell us all about your workspace needs, or simply book a tour of a potential workspace that could benefit you.
We’re fans of letting businesses decide for themselves. Tell us what you’re looking for and we’ll get back to you with a list of ideas.