Is Your Lease Ending Soon?
The holiday season brings together family, friends, and loved ones. Even though this year may look different for some, it’s always a time of the year where we can be grateful for the many blessings in our lives. It’s also the time of the year where leases are ending for corporations and small businesses, thus leading them to search for new work space.
There are many struggles when signing a new lease. First, the size. How do you know the size of the space you will need going forward, especially during a pandemic? Right now, the majority of people are still working from home. Most companies do not want to lock into a 3-5 year lease with 2,000-4,000 sq. ft. if they are unsure of whether that space will be utilized. Executive suites are large spaces that can be difficult to fill when their employees are working from home for a large portion of their work week. This will cause decision makers to look long and hard about their next lease of space.
Another difficulty of signing a new lease is the lack of flexibility. Most commercial leases require you to lock into a minimum of 3-5 years for office space. This length of lease completely minimizes the flexibility a company has when looking towards their future. If work from home continues, even part time, then the office space won’t be fully utilized the first year. Locking into an agreement of significant length only allows for minimal flexibility for companies.
Lastly, there comes a number of extra costs that affect the bottom line. Furnishing an office is one of the highest price tags for a new lease. Even if a company is just moving spaces, moving that furniture is costly. Will it all get used? Should we downsize? Can we afford it all? These are some of the questions being asked. Another added expenditure is Wi-Fi. Business class Wi-Fi adds another cost item to the lease. Air conditioning, cleaning services, parking, coffee, all of these items add up. These line items are necessary but expensive. Add everything together and companies are looking at a high initial cost and monthly rate.
This is probably not the first time these thoughts have popped up in your head. So what is the answer? Office Evolution. We are a co-working franchise that have solutions to all of the issues outlined above. Each franchise is locally owned, which means we care about your success because we live in the communities where your small business operates. We want to ensure the product we provide will enable your company’s success. We offer private offices, shared workspace areas, conference rooms, and other amenities that will boost your business and increase productivity. Office Evolution offers month-to-month leases to provide the ultimate flexibility. If you need a longer-term commitment, we offer discounted rates for 6 month and 1 year commitments. Lastly, Office Evolution furnishes each private office with a desk, chair, rolling filing cabinet, and a phone. Wi-Fi is included in your membership, as well as free beverages for you and your guests. Additional amenities include cleaning services and a monthly allotment of conference room usage and live answering service. We do not have hidden fees as Office Evolution believes transparency is the best business practice. So, if you’re looking for a solution for work space, Office Evolution has all the tools to help your business succeed. Call your local franchise today for more information!
At Office Evolution, we provide virtual office, coworking, and private office solutions at our shared office center. We offer meeting rooms, offices, hot desking in a shared workspace coworking lounge, a shared reception, a business address, and virtual receptionist services. We have many options and price points, and all terms are flexible. Plus, you become part of a community of like-minded professionals.