Considering opening up your own small business can definitely be a challenge. You have to be able to thoroughly think through what type of business you are going to open, how you are going to run it efficiently and also where you are going to run your small business from.
According to Forbes, there are more than 52 percent of small businesses that open and are ran from home. Many small business owners make the decision to run their small business at home because of being able to save on their budget. Many times, small business owners realize that their budget is much tighter than they thought. However, once your small business continues to take off and increase, you may want to consider moving to a commercial building office in order to accommodate your increase in business.
According to Fit Small Business, only 50 percent of small businesses will make it past 4 to 5 years and only one third will survive past 10 years of more. In the United States, there are many small businesses that open up only to close down shortly after. There are many different reasons that these small businesses close down. However, the main reason that these small businesses are forced to close down has much to do with a shortage of cash flow. You have to try to make sure that you carefully balance your budget when first starting out. This is why many owners decide to run their business from their very own homes. However, when your company starts to expand, this is when you must consider upgrading to a larger commercial office. Also, getting a commercial office will allow you to build a better reputation for your company. It is much better to run a business from a commercial office rather than your home because it also allows you to separate work from your personal space.
If you have made the decision to upgrade your location of business, consider leasing an office space in a busy city that will help you generate more business. San Francisco is one of the busiest cities that may work wonders for your small business. The location itself will already help your business grow. You can take time to conduct research online, by searching: http://sfofficespaces.com/types-of-leases-triple-net-commercial-nnn-modified-gross-and-more/. From here, you should be able to find out what your options are for leasing your next office for your small business. You can also be sure to contact an agent to ask all of your questions and concerns. Try to examine your financial budget to determine what is going to be a safe budget for you and your company.
Overall, opening your own small business can be quite a challenge. With proper planning and coordination, you will be able to very successful. Also, take time to carefully analyze your budgets before making rapid decisions. If you need help with discovering what your budget is, try to get in touch with an agent to help you decide and compare what is going to work with your needs.