As a follow up on our post to starting a business, where you plan to operate is a major decision to be considered immediately in your business planning. As a homebased business, you may need to lease some space for outside use to meet clients away from home.
Leasing a space has a number of challenges and finding help with the negotiations should be considered if you don't have the expertise to do it yourself; sometimes if you have the expertise, having someone to help is a good idea also.
There are a number of expenses to be considered at start up along with the lease payments; ie, the build-out cost
if you need to alter the space to customize it for your particular business type and needs. If you change the existing structure inside or out and add to it, if you plan to remove whatever you used to make the change, you will more than likely have to bring the space back to what is was originally when you leave. Consider fixtures, if you are planning to remove anything that you want to take that is fixed in place it should be identified as a trade fixture to be able to carry it with you at the end of the lease agreement.
Attached to this blog post is an article that identifies some important questions to think about when you are planning to lease.
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Good Luck Entrepreneurs!!!
