Why Startups Should Consider Executive Office Suites Instead of Commercial
Some startup CEOs believe that because the company eventually is going to become HUGE, they should start out in a commercial space – all the easier to grow as the company grows quickly.
But they’d be mistaken. Read below for five reasons why it’s far better for a startup to lease an executive office suite rather than a full-bore commercial office.
1. Cost. The cost of an executive suite is much less expensive than that of a larger commercial office space. Startups almost always have capital and budget issues, so why spend more when you really don’t have to? What’s more, growth almost always takes longer than you think it will. There’s plenty of time to find a bigger office when you actually need it. Instead, save your overhead money and rent an executive office.
2. Flexibility. Speaking of your desire to expand quickly, doing so actually has been the death knell for many startups because rapid expansion can be very hard to scale. An executive suite office, on the other hand, is very flexible, allowing you to expand a bit (slowly), if needed (and even downsize easily, if needed). Many executive office suites also have multi-room offices you can rent; there will be no need to move to a new building – with the greater cost and risk – until you’re absolutely ready.
3. Equipment and furniture. Renting a commercial office space means you’re going to have lease or purchase furniture, desks, office chairs, copiers, conference phones, A/V equipment, lights, waste baskets, and on and on and on and on and on: very costly! But an executive office suite provides all of this furniture and equipment for you; it’s included in your monthly lease payment.
4. Administrative help. Another big cost for startups is the cost of hiring – and providing benefits for – employees. Many startups need administrative professionals to perform important tasks such as taking messages, answering phones, greeting visitors, creating documents, and so on. There’s no need to place these types of workers on your own payroll because most executive office suites offer administrative help, from reception, to phone messaging, mail sorting, and catering and event planning help, and more.
5. Upkeep. Someone has to clean the office and so you can either do it yourself or hire someone to do this important job (either in-house or via a janitorial company). But executive suites almost always include the cost of cleaning and even maintenance/repairs in your monthly lease.
You have more than enough on your plate as the owner or a startup. Make your life so much easier by renting space in an executive suite in your company’s first months or couple of years. Contact the leasing experts at 90StateStreet.com by calling 518-694-0662 or sending us an e-mail at office@90StateStreet.com.