Leasing Space for Your Business: Cost Saving Tips for Business Owners
FreeUp Storage
March 25th, 2025
When your business starts to grow, it’s an exciting time, but it can also come with some tricky problems, like needing more space. Whether you’re just starting your business or making a current one bigger, costs can add up fast. Renting space for a business can be expensive, and buying a building costs even more. Thankfully, using this guide, you can find office, retail, or commercial space that fits your needs and budget.
Assess Your Business Needs
Before signing a new lease, it's important to think about what your business really needs. If you plan for too much, you might spend more money on overhead expenses than you must. But if you plan for too little, it might be more difficult to grow your business.
Analyzing Your Current Space Usage
To assess your business needs, it’s best to start by looking at the big picture of your office space and how you’re currently using it. Are parts of it messy, not being used much, or is it set up in an old-fashioned way? Sometimes, a bit of cleaning up, moving things around, or even using vertical storage solutions to save space can make a big difference.
Determine the Type of Space You Need
All types of businesses have different costs and benefits associated with the space they need. For example, if your business requires customers to walk in and out, then a retail space will work best for you. Prepare for the pricier side if you want to be located in a high-traffic area. If you’re a business owner needing a place where employees and clients can meet, then an office space for lease with a flexible layout is ideal. As for businesses needing a place where they can ship products, then a warehouse or industrial space is just what you need.
Finding Cost-Effective Leasing Options
After you understand what type of office space your business will need, it’s time to do the actual hunting and find a commercial space lease. It's important that you find one that will ideally fit your budget while also helping support your goals.
Examine Flexible Lease Agreements
When trying to find business space for rent, choosing a lease that works well for you is important. Flexible lease agreements, like month-to-month or short-term leases, can give you more freedom as your business grows. These leases usually don’t cost as much upfront and make renting more or less space easier when needed. This is great for businesses that are expanding quickly. However, flexible leases can sometimes cost more each month and may not offer the same long-term security. Still, if your business is expanding or going through changes, having that additional flexibility can be a big advantage.
Considering Shared Spaces or Coworking Solutions
Shared office spaces, also called coworking spaces, are becoming more popular with new and small businesses. These spaces are already set up and ready to use, and they usually cost less than regular office rentals. Some good things about them include:
● Lower upfront costs
● Access to amenities like meeting rooms and WiFi
● Networking opportunities with other professionals
● You don’t have to worry about cleaning or maintenance
● Rental periods of just a few days, weeks, or months are available
● You don’t need to buy office furniture or equipment
Smart Strategies To Reduce Leasing Costs
Besides picking the right kind of lease, here are smart ways to help make it even cheaper:
Negotiating Lease Terms
Don’t accept the first offer. Negotiation is necessary when signing a commercial lease. Look for opportunities such as:
● Reduced rent in exchange for a longer lease
● Free rent for the first few months
● A limit on how much the rent can go up each year
● The landlord covering utility costs like water or trash
● Additional parking spaces at no additional charge
Assess Subleasing Opportunities
If you’ve rented more space than you need, or if your business isn’t growing as fast as you thought, you can rent out part of your space to someone else. This is called subleasing, and it can help you save money by sharing the cost of rent. Just ask your landlord first and write down all the rules to avoid problems later.
When Renting Space For a Business Store Inventory in a FreeUp Storage Unit
Want to save money while growing your business? Try using business storage! At FreeUp Storage, you can rent clean and affordable storage units to keep excess supplies, equipment, or files. This helps you organize your main space without paying for more office space. We offer flexible month-to-month rentals, so you only pay for what you need. Find a FreeUp Storage location near you and contact us online to make more room for your business to grow without spending too much!
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