Do you want to start a shared office space company from scratch? Or you need a sample shared office space business plan template? If YES, then i advice you read on. There are loads of entrepreneurs out there that can’t afford a full office facility to run their business. The truth is that even if one can run his or her business from home, the fact can’t be denied that it is more productive that work in an office environment than at home. When you work from home, you stand the chance to be exposed to distractions, and what have you.
So, if you are looking towards solving this sort of problem in your community, you can start a shared office space business. It is simple; all you need to do is to rent a facility that is large enough to accommodate the numbers of space that you would want to rent out or perhaps you already have a large office and you are not utilizing the whole space, you can generate income to pay your bill by leasing office space to people who don’t have the capacity to rent a full office for their business.
If you intend making great return from this type of business, you should target areas where you can get appreciable numbers of aspiring entrepreneurs or start – up businesses that would need an office to operate from.
Now let us consider some of the key steps you would need to take if you want to start a shared office space business in you area;
Starting a Shared Office Space Company – Sample Business Plan Template
Table of Content
No doubt, starting a shared office space business might not work in all locations, especially locations where people can easily get an office facility at an affordable price. The areas where this type of business can thrive are areas where it is difficult to secure office spaces or areas with large numbers of startups and aspiring entrepreneurs.
One of the tools that you would need to use in order to know if starting a shared office space business is the right business for you to do is to first conduct your feasibility studies. You would need to go out there to get first hand information that will guide you in your decision making.
Just like any other business, starting a shared office business requires that you write a business plan before venturing into the business. Starting this kind of business is indeed capital intensive and you would not want to start the business without a concrete plan on ground on how you intend generating capital and managing the business.
So ensure that you write a good business plan; a plan of how you intend managing the business and maximizing profits. Besides making use of your business plan to run your business, a good business plan is also a tool that you can use to generate start – up capital and also to attract investors.
Once you have mapped out your plans on paper and you are sure that you will make profits from the business, and then you would need to pull your start – up capital together.
The fact that starting a shared office space is capital intensive means that you are expected to explore all available means within your reach to pull together the required capital to lease or purchase a facility, reconstruct the facility to suit the purpose you want to use it for and also to equip the facility. There are various ways you can generate capital to start your business, you can get loan from the bank and you can source for investors and partners.
4. Lease or Purchase a Standard Facility in a Business District
If you want to hit the ground and start running in this type of business, then you must secure a standard facility in a business district. The truth is that loads of small business owners would love to have their offices in areas where conglomerates and large corporations have their offices but the fact that they can’t afford it makes them steer clear of such areas.
But if the have the options of just renting a small space that is just enough for them, they will embrace such opportunities with both hands especially if they can afford it. It might be expensive to lease or acquire facilities in such highbrow business district, but you are such of making great profits from it.
5. Equip Your Facility
Once you are able to secure a good office facility in a good location, then the next step is to equip facility. You would need to purchase office chairs and tables, printers, photocopiers, and internet facility, et al. you would also need to purchase the appropriate insurance cover for your facility; you can talk to your insurance broker to advise you accordingly. The bottom line is to ensure that your office facility is comfortable and safe for people to run their businesses.
6. Draft Your Terms and Conditions
It is very important that you draft your own terms and conditions before renting your office space to people. You should make it mandatory for anyone who wants to rent your office space to sign the contract documents before releasing the office space to them. This is very important because it will guide you against any police or court case that might arise if someone decided to use your office space for fraudulent business.
In order to make money from your business, you must adopt a good marking strategy. In order to market your shared office space business, you can place adverts on newspapers, and on the internet. These are some of the most effective ways to market this type of business. You can also print handbills and distribute it in locations such as business schools or entrepreneurial colleges where you are likely going to get people who will be interested in renting your office space.
Over and above, starting a shared office space business is indeed a profitable business to start if you have the start – up capital that is required and you have what it takes to manage the business.
- How to File a DBA in Los Angeles (Requirement, Cost, Fees & Steps) - April 3, 2021
- How to File a DBA in Florida (Requirement, Cost, Fees & Steps) - April 3, 2021
- How to File a DBA in Pennsylvania (Requirement, Cost, Fees & Steps) - April 3, 2021