Why Renting an Office Space is Ideal for Your Startup in Toronto

April 5, 2019 | Small Business Tips

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The ability to rent a small office space is not strictly reserved for established businesses. In fact, entrepreneurs can benefit in many ways from working out of a commercial facility. A business centre will provide your startup with a professional image and productive work environment. These two factors are both advantageous and crucial to have in the early stages of starting a new business. Below are some useful tips on how you can prepare your startup for success and learn more about how renting a small office can help.

Tips for the Early Stages of Your Startup

Starting a new business is a challenge and not for those who want a quick, easy, high-profit enterprise from Day One. Once you establish your idea, you must dedicate your time, energy, and money to help it flourish and prosper. Regardless of the size, your startup can survive the competitive business landscape if you follow a few key strategies:

  • Find Your Passion:  If you don’t believe in your business, it may be a challenge to find anybody else who will. Carefully consider your idea and make sure your startup is a place where you can see yourself working long-term. Doing what you love will make your business and personal life much easier.
  • Have a Solid Plan:  Get your finances in order and prepare a proposal for the purpose of your business. If you plan on hiring employees, make sure you know exactly the type of person you want to work with. In many ways, your team will become your family and they can have a significant impact on the progression and growth of your business.
  • Ask for Support:  Setting yourself up for success in the startup world is a huge undertaking that requires at least some degree of external support. Reach out to the people in your network who can help you build your credibility. Friends, family and close colleagues are a good place to start.
  • Set Goals: Short, medium, and long-term goals are important to make. In the early stages, create realistic short-term goals that are easily attainable. Successfully meeting and overcoming these goals may give you a boost of confidence that will help you move forward with your business. Be open to feedback and adjust your goals accordingly.
  • Listen to Your Customers:  If you want to run a successful business, your focus should remain on who your customers are and how your services can benefit them. Startups that are serious about growing their business will directly speak with customers to gain insight into better business ideas.

How Opting for Coworking Space Can Benefit You

Once you have made the right preparations for your new venture, you will need to find an office to work from. Of the many available options, renting a Coworking space seems to be the right decision for most startups. Here are a few reasons why renting a small office is an ideal place to grow your startup:

AFFORDABLE

Coworking Space TorontoAt the start of business, nearly all startups go through a tough period before they can break-even and become profitable. At this stage, it is important to manage your expenses carefully. Renting a traditional commercial office space often requires signing a long-term lease (typically 5 years). A deposit is also generally required. Such a commitment would place enormous strain on a startup even before they can generate cash flow.

A coworking space, on the other hand, offers a more lenient payment plan – more like a club membership. Depending on the particular provider, you can rent a convenient coworking space in Toronto by the month, weekly, hourly and even pay as you go basis. This arrangement is ideal for most startups which cannot afford the high upfront costs of a long-term lease. You are only required to pay for the space and service you need.

FULL AMENITIES

One key advantage of renting a coworking space is that it helps you avoid all the costs of setting up an office such as furniture, décor and utilities. At Officescape, we have fully furnished meeting rooms, reception area and break rooms to provide a conducive environment to you, your guests and/or your employees. We also provide Wi-Fi, administrative support and 24/7 office access.

PROFESSIONAL ADDRESS

First impressions are critical. As a small business, you need to project an image of professionalism to clients (prospective and current) as well as to prospective employees and partners. By renting a properly furnished and equipped office, guests will take note of your professionalism and be more compelled to work with you. Additionally, having a professional mailing address and business location will boost your credibility.

SYNERGY

As a startup, you need to constantly network with other like-minded businesses and grow your contacts. A coworking space gives you the chance to meet other startup businesses who could be prospective clients, mentors or partners. Mingling with other business owners who can put in a good word for you is a more effective and affordable means of marketing. This help goes both ways.

Contact Officescape to find the best office rentals for your startup. Give us a call at 647-557-1693. Book a business centre now or contact us online if you have any questions or concerns.

Share This Post:

  • I can’t go with any other choice...

    When I started my engineering business 4 years ago, I was looking for a space where it’s cost effective and at a prime location. It was a challenge! This is the best I could find, close to my home so the driving was faster, also the reception is exceptionally good. When you walk in the office, the welcoming atmosphere, the options I have here, I can’t go with any other choice.

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    Valluvan AlagirisamyInspar Inc.

  • You have the necessary simple structure which allows you to focus on your day to day job.

    We’ve been doing this for almost 8+ years on a full-time basis, and I’ve been with Officescape for just over 5 years at this point. Pretty much the length of our practice, we’ve been part of a certain shared office center. With Officescape, you get the advantage of amazing office space, professional staff to greet your clients, and not worrying about unnecessary procedures. You have the necessary simple structure, which allows you to focus on your day to day job.

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    Purvish ShahAdian Professional Services

  • It’s very professional and they don’t even know that its not our office!

    We started using Officescape primarily because we needed an address for mailing purposes and for our product. I use them for meeting rooms as well, when I bring my buyers in. It’s very professional and they don’t even know that that is not our Maxell office. It’s important for us to keep our profile image. Having a company in Canada for 16 years, our buyers are coming into our offices all the time, we still needed a space to have that place for our buyers to come visit us and vice versa.

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    Lynn LangMaxell

  • My experience has been very positive!

    I chose Officescape because the staff are really friendly, I found them really helpful and really resourceful. I also find the building to be really clean and really bright, I like some of the architectural design. They always greet my clients very friendly, always offer them coffee, tea, water and always say goodbye to them when they leave. My experience at Officescape has been very positive!

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    Ellen BradleyIntegrative Counselling Services

  • This is the perfect facility...to run your business

    I had the opportunity to use the Officescape location in Markham while working on a consulting project. Dave provides a top notch facility with excellent offices, boardrooms, connectivity, service and yes... great coffee. This is the perfect facility in Markham to run your business, meet your clients, and brand your company. Congratulations Dave on providing a much needed service to the business community.

    Mark FriedbergCognovative Business Services

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