office space rent bf homes Archives

Economic Benefits of Using an Office Space for Lease in Paranaque

What are the economic advantages of leasing an office space?

Cost-effectiveness
A multitude of options
Growth in the industry

Startups and small businesses have to think wisely about the office space they are going to use. When you have an office space, you also have to think about future expenses such as utilities, cleaning, etc. Because of these costs, it might be more financially smart to use office space for lease in Paranaque or other cities where you may want to work in. These are the reasons why you should consider renting office space:

A more cost-effective and strategic initial investment

A property is worth buying if it will be used and developed for at least a decade. Usually, businesses and companies that have been experiencing positive growth for at least seven years are the only ones who can afford to purchase a property.

If you are a start-up business, it may be less costly to get office space for lease in Paranaque. First, utilities and furniture will all be maintained by the landlord. Second, you can avoid debt or prevent getting more debt. Most businesses in their first year are basically bleeding money and it seems unnecessary to spend on a permanent place because it can’t give back income anyway. The fewer expenses you have, the better.

Your business will have more options

More and more people are working in places other than the main office. Moreover, all working spaces are not made equally and it is hard to assume that one it will not burden you later on at first inspection. Maybe, your new neighbors became too overbearing for you after seven months. Maybe, you finally found a loyal customer base after one year, but your office is too far away.

Because of these scenarios, it might be better for small business to rent office space from a business that allows monthly or six month rents. Workplays, an events space in BF Paranaque, allows a startup to rent a private room for 38,000 pesos a month. It’s not very expensive to move here or move out. Of course, if you plan to stay for here for the long-term, a six-month lock-in and one-year lock-in options are also available.

The office rental industry is growing

Whenever a business is looking for an office space, the decision makers should also take into account the local economy. In the Philippines, global business locators and traditional Filipino businesses have been making the relatively young office market experience growth. Office space owners have been managing their leasing rates to stay exceptionally competitive. Additionally, 1.4 million square meters of office space was expected to be added in 2018. Prime office rents increased by 3.4 percent in the second quarter of 2017.

Because of our current economy’s data, it can be assumed that events spaces in BF Paranaque, as well as other villages and cities, will be easier to find and buy.

Key Takeaway

Acquiring an office space does not call for an impulse decision. You have to consider several factors before thinking of buying or renting one. At the end of the day, many businesses benefit more from renting.

5 Steps for Finding the Perfect Office Space for Rent in Paranaque

What are the 5 steps for finding the perfect office space for rent in Paranaque?

Set your preferences
Devise a budget
Assess the location and the community
Determine the work environment
Find the right amenities

It doesn’t matter whether you are an owner of a startup or a freelancer looking for the perfect office space for rent in Paranaque, you deserve the best there is. The right co-working space is the key to uninterrupted productivity and output production so this is one of the most important elements of maintaining a business.

There are crucial steps to finding the perfect office space for rent in Paranaque and you should take note of these before signing that lease. There are many spaces that have potential but you should make sure that you are renting the place in the most suitable location. Read about the steps on how to find a great office space for you:

Set your Preferences

In order to find the perfect office space, you have to define what the term “perfect” means to you. There are a number of considerations that you have to think about when finding a space for your business. You have to at least come up with a checklist with an estimate of the things you would be needing and in what quantity. Make your plan as concrete as possible.

You might be drawn to idealizing the elements of the office space in terms of its appearance but you may tend to forget about functionality or become too caught up in creating an innovative working environment that you forget the overall aesthetic quality. The key here is to balance out everything and the only way you can achieve that is to stick to your preferences of what your office should be.

Devise a Budget

A solid step in finding the perfect office space is to create a budget that will coincide with your plans. Before you tour around the area and choose an office space, you should know how your budget fits into the equation first. Now, the budget doesn’t just cover the lease of the space, you should also consider moving expenses, utilities, communication expenses, insurance, and maintenance costs.

Clearly, it would be a whirlwind process, but an organized budget is very important for this task. Research about the costs and the strategies you can do in order to reduce it to accommodate your budget. This step will help you narrow down your options based on your resources and prior requirements for an office space. This way, you can find effective solutions to stick to your plan without compromising your budget.

Assess the Location and the Community

Selecting an area for your office space is also one of the most vital steps. For those who live in the South area of Metro Manila, Paranaque is a suitable candidate for the location of an office space because it is a prime city for most businesses and startups alike.

The assessment of the location should include considerations for its accessibility to public transport, commute times for employees, rent costs, local amenities and establishments near the space, and even IT/mobile coverage.

These are primary foundations in operating a business in a new office space. Consider three factors in selecting your location – your employees, your clients, and the price of the space in that area. Make sure that you provide customer convenience by finding a location that is easy to find.

Determine the Work Environment

Are you gunning for an office environment that is collaborative or a quiet one? Do your employees thrive in a loud environment or in a cozy one? These are the questions that you should ask when choosing an office space for lease.

Coworking spaces are your best bet in establishing a community among employees and clients. Also, everything relies on the comfortability of your people to work for a period of time and the welcoming atmosphere that clients will feel in the space. In order to determine if an office space has a suitable work environment, you should visit the space first to get the feel and mood of it.

Find the Right Amenities

Aside from the work environment that will spell a big difference in the productivity of people, it is also important that you find an office space that will help in improving the work experience.

These amenities will come in handy whenever someone has a use for it. The significant example of these would be a reliable internet connection, access to computers or laptops, conference rooms for meetings, etc. Amenities can either help you or be a hindrance in the office space.

You also have to keep in mind that these amenities are only as good as space allows them to be so you should find a roomy space for everything. You can also look into amenities that can provide the work/life balance by incorporating fun into your office too. This will be a great stress-reliever for hardworking employees.

Key Takeaway

There is more that can be said in finding the perfect office space but for now, these are the basics. Once you have taken all of these elements into proper consideration, you will be rewarded with a great space for your business needs.

Workplays is equipped with all of the things you will need in an office space and it can deliver an unparalleled working environment for you as well. Interested to work with us? Leave a reply here and you will be one step closer to finding the perfect office space in Paranaque!

3 Mistakes Startups Make When Renting Office Space in Parañaque

What are the mistakes startups make when leasing office space in Parañaque?

Failing to establish current and long-term plans
Not allocating enough time for the process
Price as the number one factor

As the owner of a startup, part of your duty as a leader is to know when it is time to move your operations as your business grows larger. However, it is quite common for many entrepreneurs and small business owners that are looking for an office space for rent in Parañaque and in other cities to go about things in a foolish and often backward way.

It is up to you as the owner and the primary decision maker in your company to avoid making these several key mistakes. During the early stages of your business, even a small mishap can end up costing you significantly down the line and can even cripple your growth rate.

Office rent is usually the second highest expense that majority of startups and companies incur, so doing things the wrong way even before you sign the dotted line can be disastrous. Here are three mistakes startups often make when renting office space:

Failing to Establish Current and Long-Term Plans

When looking for an office space for rent, one of the most significant mistakes a startup can make is neglecting to establish their current and long-term plans.

Before you choose your office space, what you need to do first is to sit down, take a deep breath, and write out what you believe is going to be important to you and your company.

Not Allocating Enough Time for the Process

Perhaps the one mistake that many startup decision makers seem to make over and over again is never giving themselves enough time to fully understand and go through the process of renting an office.

This means that they haven’t allocated the time to explore the office market and find any comparable alternatives nor have they used those alternatives as a leverage against their current landlord. Experts often argue about when a startup should start exploring the office market; some say you should do it two years before your current lease expires while others say one year or even three months.

The real answer is that it depends on the size, goals, and future growth needs of your company. Try and allow three to six months when preparing for a move.

Price as the Number One Factor

Because of the current economic situation, more and more companies are basing their decision to rent an office space solely on price. Price should not be the only factor that you should base your office space decision upon.

It is important for you to also understand the other factors that should go into the decision on the location of your business. More often than not, if the price is the only factor you base this decision on, it will come back to bite you.

Key Takeaway

Finding the right office space for rent in Parañaque is one of the biggest decisions you are going to have to make as the owner of a startup. Understanding how the process works as well as all of your options not only makes you a prospective tenant but an informed consumer as well.

Taking the right first steps in the process ensures that you won’t get burned later on.

5 Tips for Authentic Networking in a Co-Working Space

What authentic networking practices can you employ in a co-working space?

Strike up a conversation
Suggest a fair work trade
Share your knowledge
Use your supplies for promotion
Show passion for your work

Co-working spaces have sprung up in different places because of the shift in our work practices and the overall economy. The growing popularity of project-based and freelance work has caused a lot of office space for rent in Parañaque to be turned into co-working spaces, and people are using them now more than ever. Slowly but surely they are competing with coffee shops, which are favorite places of work among freelancers.

Workers gain many benefits from working at co-working spaces. They can just go in, hunker down, put their headphones on, and zone in on their work. It’s definitely a great way to be productive as there are little to no distractions. Co-working spaces also open a lot of opportunities for individuals to grow their business. It’s the ideal place to spread awareness of your business since space is shared by professionals from different fields and walks of life.

However, doing this isn’t an easy task. You can’t just walk up to these people who are busy with their work and pitch your business/service. Authenticity is the most important aspect of networking, so individuals must learn the following practices that bank on this trait if they want to successfully expand their network.

Strike Up a Conversation

Start by a simple “Hello” accompanied with a warm and inviting smile. Ask people how they’re day is going. Inquire about their lives, their hobbies, their likes, and dislikes. You can even invite them to lunch. Put simply, treat them like how you would someone you want to be friends with. Taking a genuine interest in their lives is the simplest and easiest way to build rapport and establish a relationship.

These simple conversations will slowly turn into sales conversations and business talks, and you just have to wait for it to naturally happen. During this process, you should be able to make a lifelong friend and a business acquaintance.

Suggest A Fair Work Trade

There may come a point where someone offers you something you need may it be in form of a favor, product or service. When this comes, try to pay them back with something of equal value preferably with your own service or product.

This equal trade produces many benefits sometimes in the form of referral. If your colleague likes what you offered, he/she may spread the word. Such words will reach the ears of other people in the co-working space and even outside of it.

Share Your Knowledge

Business is about the constant acquisition of knowledge and continuous learning and a co-working space is the best place to achieve all this. As said before, the people sharing the office with you are experts in their own professions, which means they have useful knowledge that you don’t and vice versa. Sharing this knowledge will lead to immeasurable gains for both parties, so try to be generous with information.

Rest assured that there’s no need to divulge trade secrets. You can simply let them in on an amazing software that has stayed under the radar or share contact details of useful individuals/organizations like accountants or legal services.

Use Your Supplies for Promotion

One subtle way of promoting your business is plastering promotion material on your office supplies. Pens, staplers, punchers, erasers, and similar things are routinely needed in these spaces. People will constantly borrow these things from you, so might as well use it as an opportunity to promote your business.

You can label these items with something similar to but less straightforward than a business card. Something like a piece of paper with your business’ name and URL should suffice. You can then leave these things in your desk and encourage people to use it if they need or leave it in the break or conference room for good.

Show Passion for Your Work

Ever had an unenthusiastic salesman talk you into buying a product or at the very least recommend it to your friends and family? Never, right? No one wants to buy something from someone who clearly has no passion or confidence in their product and the same can be said for your business. No matter how hard you try to flower your words, if your passion doesn’t show through your actions, then no one will be interested.

On the other hand, if you display a passion for what you do, people will be drawn to you due to curiosity. They’d be asking what it is you do and how you remain so in love with your work. Doing this allows you to build relationships which can then lead to opportunities. Even if they have no need for your products or services, they may be willing to recommend you to others.

Key Takeaway

Co-working spaces are so much more than just places where you can quietly do your work. They are also places where you can expand your network and build professional relationships in. The next time you’re in an office space for rent in Parañaque, why not try out these 5 tips for authentic networking. Surely, these will get you what you want which are strong relationships and dozens of business opportunities.