Business Startup: 5 Signs You are Ready to Open an Office

Lizzie Weakley

July 06, 2017

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The startup phase of a business can be an exciting time, but also a cash poor time. In many cases, if not most, you’ll launch the business from a room in your home. If you do well, you will reach a tipping point where that home space no longer supports the business’s needs. Here are some signs that you’ve reached that point.

You’re Hiring Employees

Once you start hiring full-time employees, it’s time to move into a more professional space. Having multiple employees in your home is problematic for work-life balance. It will also become intolerable to your spouse or roommates very quickly.

A Mentor Tells You It’s Time

The long hours and constant effort involved in a startup can start to skew your perspective about practical matters. You end up thinking, “I can’t look for an office now because there are orders to fill.” If a trusted advisor with a handle on your finances tells you it’s time, it’s time to start looking.

The Real Estate Is Available

Sometimes the market decides when the time is right. In point of fact, starting to watch the local real estate market ahead of time is the most practical course of action. That positions you to jump on the right space when it opens up. You can also contact a real estate investment trust, such as Hartman Income REIT, and ask them to keep you in the loop about spaces that meet your requirements.

More Client Meetings

If you only meet with clients one or twice a year, you can get away with working lunches, a rented office or other alternatives. That will get both inconvenient and expensive if you’re starting to meet with clients on a monthly or weekly basis. That is the point when you need an office to hold those meetings.

You’re Getting Distracted

Your home is full of distractions ranging from chores and pets to family members and the TV. Some people can seemingly block all of that out and focus. If you’re not one of them and distractions are costing you revenue or opportunities, it’s time for an office.

Moving your startup out of a home office or garage is a big and sometimes scary step. You’re committed to a lease and that means you must make money. At the same time, it provides an opportunity to expand the business and hire additional employees. It eliminates the distractions of working from home. Best of all, it should help to ease any bubbling resentments about the disruptions caused by running the business from home.