Renting out an office or a store can be very expensive. In fact, it’s often what puts off many entrepreneurs from starting a business. However, in most industries, you no longer need physical premises. Thanks to the internet, many companies have been able to find new ways of serving customers. Below are just a few ways in which you can run a business without physical premises.
Work from home
Most office work can be done from home. Yes, it can be a little harder to get privacy if you have family around or roommates, however by setting boundaries you can work around this, and you’ll save a lot of money renting an office.
Office work isn’t the only thing you can do from home. A number of entrepreneurs are starting to turn their home kitchens into ‘ghost kitchens’ – which are essentially food delivery restaurants that don’t have physical premises. A garage or shed could also be turned into a workshop for trades like repairs or crafts.
Communicate virtually
Not having an office may work fine as a solo business. But what if you want to hire employees? What if you want to conduct face-to-face meetings with clients?
Communicating virtually could still be a way around this. Many home-based companies that want to hire employees set up a ‘virtual office’ – which involves hiring employees remotely and communicating with them through a mix of video calls, emails and instant messages. This can similarly be a way to communicate with clients. If a client wants a face-to-face meeting, you can simply do it over Zoom. This may actually be better for clients as it means they don’t have to travel to meet you.
Meet somewhere neutral
If you feel like physically meeting up with employees or clients is necessary, you can still do so without having to rent or own physical premises. Many companies conduct a lot of their meetings from coffee bars, libraries or even restaurants. The key is finding somewhere that is not too busy or noisy so that there aren’t too many distractions.
Neutral spaces can also make a great workplace for exercise classes. Instead of having to rent a studio, you can run a class from a local park for free.
Outsource services that demand space
You may be able to outsource certain services to avoid renting premises. For example, if you run an online retail store and are running out of space at home to store inventory, you could consider outsourcing 3PL services like warehousing, logistics, and distribution. It is important to research and vet the company that provides these services, to make sure that they are the right one for you, and that you can rely on them to handle your inventory. Taking a look at websites such as shapefulfilment.com, for example, will show you exactly what a company such as this can provide and how they can be of use to your business.
Manufacturing is another service that is often better to outsource. If you have an idea for a product, you could save a lot of money by outsourcing a manufacturer to build your product for you instead of setting up your own factory. You can then focus on marketing and selling your product without having to oversee the manufacturing side.
Work from a vehicle
It’s also possible to work from a vehicle. Food trucks can be a great alternative to renting space for a cafe or restaurant. You even have the flexibility to target customers in different locations, as well as being able to run a ghost kitchen from your truck to take online orders.
Other businesses like dog grooming, bicycle repair and even dentistry can be carried out from a converted van. This isn’t just cheaper, but often more conveniently for certain customers who may not be able to travel far.
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