Renting office space/warehouse

[1PercentStreet]

Hey everyone,
I'm from Las Vegas and I've got a new business in the works and wanted to ask a few questions regarding renting office space.

I was mainly interested in renting a warehouse and building something of the sort as Rob Dyrdek did for fantasy factory.
I know he sunk $1MM into that but I want the space.

Now my questions are:

Is it worth it at the beginning, even if I do not need it?
What should be a good price point to start out?
Any advice regarding first time renting would be REALLY appreciated.

By the way, the business is internet related but will be local as well. Does not need to be a storefront but I do want something out the house.

I want to budget this business at $15k to start and just reinvest all profit back into it after.

 

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[biophase]

If you don't have to don't do it. Just because you don't want to do it from home is not a good reason to rent office space. Do you have employees?

 

[easymoney99]

Hey I recently rented a small executive suite (first time also) in a upper scale business district (Pleasanton California) 30 mins away from where I live. Its only 250$ a month for an office to myself with huge windows. Its a really nice building and I can really focus at this place. For me the cost benefit is worth it. At home there are too many distractions including my family which is the biggest. Having a place to leave and go be by myself in solitude to really get into the zone helps tremendously. In the past month here I've learn HTML, CSS, and starting Javascript. Also I've been able to finish some books too which help me with mindset. I really wanna get a mini warehouse after this though, because I want to be able to live in it part time.

I want a small place like the kid from Tron: Legacy. He had a warehouse that had doors that roll up and he put furniture in it.


But since u want to get a warehouse from the get-go I really don't have much advice. Just try to find a deal, a lot of places are leasing low just to break even because businesses are declining. The office I'm renting isn't making money from it, they are just keeping the floor busy until they can find a big company to lease the entire floor to (then I have to leave). But until then I only pay $250 and I get a whole room, with free internet, furniture, mail/package delivery, and I put a big a$$ bean bag (lovesac.com but I got it used for 100$)


If you have 15K you can dedicate to your warehouse and you feel like it will make you perform at a higher level I say do it. Back when I was borrowing my Mom's laptop to practice internet marketing I knew that if I got a new laptop it would help me be able to take it to the next level. When I got a credit card and bought the laptop with it, it payed off. Then when I hit my next plateau I got a gaming PC and could do even more. Now I recently got an office, and I'll use it to make it pay off.

Just find a good deal. I searched for about 2 months.

Hey everyone,
I'm from Las Vegas and I've got a new business in the works and wanted to ask a few questions regarding renting office space.

I was mainly interested in renting a warehouse and building something of the sort as Rob Dyrdek did for fantasy factory.
I know he sunk $1MM into that but I want the space.

Now my questions are:

Is it worth it at the beginning, even if I do not need it?
What should be a good price point to start out?
Any advice regarding first time renting would be REALLY appreciated.

By the way, the business is internet related but will be local as well. Does not need to be a storefront but I do want something out the house.

I want to budget this business at $15k to start and just reinvest all profit back into it after.

 

[1PercentStreet]

If you don't have to don't do it. Just because you don't want to do it from home is not a good reason to rent office space. Do you have employees?

I'm hiring my first employee within the next few weeks. It's several businesses that I run and I have a feeling that moving from out of home will move me from mid xxx,xxx to xx,xxx,xxx.
Is it just a mental block or do a lot of companies move from their home to business? I've been working at home for the last 5 years.



@easymoney99
Thanks for that, I wish there was stuff like that here. In Vegas, a single office is starting around $500 and I need more space then that if I were to get an office.
My office "dream" is just have a HUGE warehouse, like 150k sqft or larger, and just do whatever the hell I want in it. That's a ways away but still would be amazing.

 

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[easymoney99]

Thanks for that, I wish there was stuff like that here. In Vegas, a single office is starting around $500 and I need more space then that if I were to get an office.
My office "dream" is just have a HUGE warehouse, like 150k sqft or larger, and just do whatever the hell I want in it. That's a ways away but still would be amazing.

Yea, here the lowest office price is starting around $500 also (my situation is very unique), but keep looking and you might get lucky on a low rent warehouse. I'm planning on getting there too, but I'm not at XXX,XXX just yet. I need to get to work noooowwwwwwwwwww.

 

[1PercentStreet]

I'm looking at expanding quickly, would it be best to prepare for it now or just expand as it comes? By the end of the year I want to hire at least 20 employees full time with my business ventures.

-I'm looking to spend no more then 3k/month so I have a lot of options but not 100% sure what to do.

 

[theBiz]

you guys are lucky $250 for that with free wifi? My cable bill just for internet was $90 first month and about$75 after. You want to spend 3k on office space with 20 employees? I must be living in the wrong spot... these prices are really, really low.

 

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[1PercentStreet]

No, I meant to say that at the end of the year I want to be at 20 employees(which means a lot of growth for me). I know rent will be at least $10k/month by then(which will make sense when I'm making enough to cover that). For $3,500, I can get around 500 sqft with a 2500 sqft warehouse.

 

[biophase]

I'm hiring my first employee within the next few weeks. It's several businesses that I run and I have a feeling that moving from out of home will move me from mid xxx,xxx to xx,xxx,xxx.
Is it just a mental block or do a lot of companies move from their home to business? I've been working at home for the last 5 years.

Not sure if your numbers were meant to be accurate. If you are doing mid 6 figures, then an office is a small expense. You shouldn't be asking us if you should be spending $30k a year on an office.

I could have moved to an office probably 1 year before I did so. But I waited until I absolutely had to to move out. I had my garage filled, one bedroom and the living room full of stuff. That's when I knew I had to get a warehouse. Plus I needed to make room in the garage for the Ferrari. If you wait until you have to do it, you will never question the expense. I never wonder if I need my office. I KNOW I need it. You can do it sooner but having a bunch of empty offices and empty sf does your company no good.

If you are hiring an employee then I'd say get an office. But get a 6 month lease in a small building. Then you can expand if you do hire 20 employees in December.

To me, it sounds like you are in love with the idea of having an office and a warehouse vs. needing one for your business.

 

[1PercentStreet]

Thanks Biophase, It does make more sense to me like that.

I was told by someone that used to mentor me that to use an office was unneeded and you can grow into a billion dollar biz without one. This was at the very beginning of my entrepreneur businesses so it was ingrained that it was true.

I'm doing a majority of my income from something that doesn't require any space except an open bank account and 24/7 internet access. I've been working on building a few businesses in the past 6 months because what I do now for a majority of my income is scale limited.(can maybe earn 1MM a year).
Going to start with a small office, month to month, then when things are going steadier for my other businesses I'll move into something with larger space.

 

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[PatrickP]

I could have moved to an office probably 1 year before I did so. But I waited until I absolutely had to to move out. I had my garage filled, one bedroom and the living room full of stuff. That's when I knew I had to get a warehouse. Plus I needed to make room in the garage for the Ferrari. If you wait until you have to do it, you will never question the expense. I never wonder if I need my office. I KNOW I need it. You can do it sooner but having a bunch of empty offices and empty sf does your company no good.

This THIS THIS ^^^^^ is absolute GOLD

If these few lines were all we learned from a book costing 30 bucks it would be WELL worth the price of the book!

Many businesses find themselves just a few thousand or maybe 15K short and end up going out of business. If they had only followed what Biophase has posted they could have saved the business long enough to become successful.

 

[CEBenz]

If you don't have the staff in the home office is very good choice. Considering various factors commercial office rent is very high, location, room size, renting time. Your customer will visit to your office, if not go, you a lot of choices.

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