Businesses, especially startups, have a limited budget to work with. You won’t always be able to get the biggest most comfortable office to help you grow your business, you can, however, set-up something within your budget and also make it look great. You don’t need a huge office to have an impressive and cozy working space, and you can find affordable office space for rent in New York City and many other major cities within your budget, you shouldn’t be discouraged by the big price tags since there is always something out there that suits your expectations. The most important thing is that after signing the papers, you should decorate your office to make it look inviting and welcoming to all the employees and clients, which will help make it more impressive than having a big empty office space. It is important to stay within that budget to stay afloat, especially in the first few years of business. Unfortunately, not all new companies have a limitless supply of cash.
Staying within a tight budget is essential for businesses aiming to venture into New York City. As an economic center, prices can be quite high here. It is no secret that eyeing the best office space NYC has to offer can put a massive dent on a company’s budget.
There is no need to worry, however. There are various ways to still set up an office in the Big Apple without draining the business’ bank account.
Setting Up an Office in NYC on a Tight Budget:
Here are some helpful tips to consider:
1. Look into Subletting:
Not all businesses thrive well in NYC. Some fold after just a few months while others end up downsizing after years of operations. But closing businesses may become blessings for new ventures.
Some companies end up with several empty spaces after downsizing. Instead of staying empty, they may sublet the space to smaller businesses.
Office spaces in the Manhattan area can be quite expensive, but subletting one or two floors of a building can benefit companies on a tight budget. Smart subletters can even ask for up 20% to 25% discount on their rental fee.
2. Consider Sharing Office Spaces
Looking for roommates does not have to be limited to apartments. Different companies can also share offices.
Many up and coming businesses choose the Big Apple as their base. And one of the best ways to save on rental expenses is to look for others who are in the same boat.
The setup can depend on what the businesses agree on. Some companies share common pantries, lobbies, and bathrooms. This helps them save not only on rental costs but also on utilities and other expenses like security.
On the other hand, if the company deals with confidential information, sharing office spaces may not be the best option for it.
3. Consider a Home Office
Creating an office within the owner’s home is also another popular move for new businesses, especially for those with very few employees. Aside from saving on rent, this also makes it convenient for entrepreneurs to work anytime. If they are also just renting in New York, owners can hit two birds with one stone with rental costs.
However, it will be better to use one floor of a multi-floor house to establish a boundary between home and work. Everyone, even CEOs, still needs to maintain a work and life balance.
Midtown and Brooklyn offer reasonable rates for an apartment or commercial space. This is a great option compared to compromising on a high rental fee for the best office space NYC offers. Just remember to discuss the details with the landlord to avoid any issues.
Read Also: How to Set Up Your Very Own Home Office
4. Ask Help from an Expert
The best way to find a reasonably priced office space to rent in NYC is to seek help from an expert. Sure the internet offers a lot of options, but it does not have the know-how of the city like an experienced professional.
Hire a property finder who can connect you to property owners and do the legal steps of moving spaces for you. A licensed professional will present options from location to budget.
Having a tight budget is normal for a lot of businesses, but it does not mean a lot should be sacrificed. To find the best deals for office spaces in NYC, business owners should be open to various ideas like the ones above.