Utilize Space Correctly
Make sure you are properly utilizing your office space. Time equals money, but so does space. Rent is often one of your largest monthly expenses unrelated to cost of goods sold or employees. You can save hundreds or even thousands per year by renting the properly sized building to suit your needs. If you have recently downsized, you may need to move to a smaller location. Do not pay for a larger area than is necessary to conduct your business activities. Consider using shared office space for small one person operations.
Before renting or buying a building, look at how much space other similar businesses use and consider finding a location that is the same size. The amount you will pay to lease commercial property varies greatly depending on location. Shop around for the perfect location based on your needs. Do you need to be in a spot with lots of foot traffic? Near other businesses? On a busy highway? Easy to find? Do you need a large warehouse for storage of products? Having a business plan in place and structuring your location based on your needs is the best idea when setting up your operation.