IBA, as the premier business brokerage firm in the Pacific Northwest, is firmly established as a respected professional service firm in the legal, accounting, banking, mergers & acquisitions, real estate, and financial planning communities. Periodically, we will post guest blogs from professionals with knowledge to share for the good of owners of privately held companies & family owned businesses. The following blog has been provided by Kelly Richardson of Rowley Properties (www.rowleyproperties.com):
Moving into Commercial Real Estate when your Home Based Business outgrows your Residence
In the past, many people may have looked upon a home-based business as a hobby or secondary source of income. Upon closer inspection, home-based businesses actually make up half of all United States businesses. Apple Computer, Hershey Chocolate, Mary Kay Cosmetics and the Ford Motor Company all started out as home-based businesses.
With just starting something new or lay-offs, people have been looking for opportunities that a home-based business provides. A home base is a start-up space which creates an entry point into the business world. A lot of home-based businesses have been specialized, focusing on one thing they do well. In this economy, however, this has changed and businesses are branching out and entering affiliated fields to become more marketable.
Recently, I have seen a surge of home-based businesses expanding out of the home and into leasing office space. Some business owners can be nervous with this transition and a good landlord/property manager can help smooth the way. A leasing agent should sit down with you and review your business model, so they are familiar with what is needed and wanted with your employees, vendors, clients and associates. Using space planning tools, they can help you determine how much space you will need, how the space would work for your business’s efficiency, and of course, go over the costs.
Office leases can be flexible. For example, Rowley Properties, Inc., a landlord in Issaquah, has offered to current tenants when their business expands and they need additional 300 square feet or more space, Rowley Properties will terminate their lease without penalty and more them into a larger available Rowley Properties’ space.
Part of business expansion should include creating more of a synergy for your business. Synergy circles can include networking, helpful landlords, other tenants in the area and involving the community.
This content was written by Kelly Richardson, a commercial leasing agent with Rowley Properties, Inc. As a real estate development and leasing company, we’re not merely trying to build buildings; we are creating a business that responds to our changing times and the needs of our community in alignment with our core values and our deep sense of responsibility. You know when you are one of our customers. We believe in supporting and sustaining – “we’ll grow and you’ll grow.”
Rowley Properties leases office and other commercial space in Issaquah. Rowley’s team helps their tenants succeed by introducing tenants to networking such as Chamber events, Rotary, etc. Rowley Properties, through the help of the Small Business Administration, can direct tenants to business consultants (SCORE) to aid with management plans and other marketing/organization tools to help your business flourish and prosper. For more information about Rowley Properties, Inc. and their property portfolio, please visit our website at www.rowleyproperties.com.
For more information about the Small Business Administration (Seattle), check out their website at http://www.sba.gov/localresources/district/wa/index.html.
Kelly Richardson is the Designated Broker and a CCIM affiliated with Rowley Properties. If you have questions about the content of this article or would like to obtain information related to the services Rowley Properties offers its clients, Ms. Richardson would welcome communication at (425) 395-9577 or firstname.lastname@example.org
IBA, the Pacific Northwest’s premier business brokerage firm since 1975, is available as an information resource to the media, business brokerage, mergers & acquisitions, and real estate communities on subjects relevant to the purchase & sale of privately held companies and family owned businesses. IBA is recognized as one of the best business brokerage firms in the nation based on its long track record of successfully negotiating “win-win” business sale transactions in environments of full disclosure employing “best practices”.