Getting your first office space is a big commitment, particularly from a financial point of view. Costs can come at you from all angles, so it pays to try to save money wherever you can. Peter Ames looks at how you might be able to make the process as cheap as possible.
Going Solo vs. Getting an Agent
Agents generally charge a fee of 10% on top of your first year’s rent, so you’d think it would pay to go it alone and find a new office yourself. On paper, this is one way to cut the costs of getting a new office search – and, after all, who’s better qualified to find you an office that’s right for you?
However, Agents bring a wealth of contacts, knowledge and negotiating ability. They could ultimately save you money by finding you a super-cheap property or by brokering you a cracking deal. The decision is yours.
One thing an agent may be able to find are a few great value hidden gems in less fashionable locations. Agent or not, while your eye may be drawn by a city-centre property, it can often pay to spread your net and consider less premium spots such as these.