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When you first start your own business, or you make the move to go self-employed, it’s common that you’re not going to want to commit to an office space right away. Although there are some things that your business should never scrimp on, you can save yourself a lot of money by not investing in a premises right away. But before long, you can feel ready. When your business starts to grow, or you take on employees, you need to know that you’ve got somewhere to put roots. But, what could of space should you think about moving to?
Buying A Building
One of the most common options that you have is to buy a building. Sometimes you would be buying the freehold, or it could be the leasehold. Either way, you may want to think about making a purchase. Not only do you then have the security of knowing that you own the building and won’t be forced to move should the owner decide to sell up, but you could also tailor the space to suit your needs. Plus, if you get a good deal, you could even make money should you decide to sell.
Renting A Space
The second most common option would be renting. This is often a good idea if you’re still a little wary of making the move to a formal space and you’re just looking to test the waters. Whether it’s an office or commercial premises, you should find that renting gives you a set renting period and a set rate, so that you have some security for however long you sign the lease for. When you rent, the building owner may also be responsible for some of the services, meaning you won’t have to fit the bill if things go wrong.
Leasing An Office
Then, there’s leasing to consider. Leasing a managed office space can be another strong option. If you like the unaccountability that comes with renting, then you’re going to love what goes hand in hand with a managed space. Although there are key considerations you need to make on things like the terms or the local amenities, you’ll find that it’s a simple and easy option to start out with.
Creating Your Own
Then, you may want to think about creating your own office. If you have the capital and you like the idea of designing your own space, this is always a strong option. Whether you build with brick or create a structural steel design, you should be able to construct a commercial premises that suits you needs. The option to personalize things and own everything outright is often a huge selling point here.
Building At Home
Finally, you may also be interested in the option of building your own office, but doing it at home. If you want the risk to be as minimal as possible, creating a construction in your garden or even attached to the house can work. Not only will you have less travel time and overheads, but you’ve also got the security of converting it into something else and boosting your property should it not work out.