If you think your business needs an office, you may first want to take some things into consideration. The first thing you need to factor into the equation before setting up or renting space is office costs. This will include things like rent (if applicable), supplies, equipment and utilities like your phone. You want to break down these costs before you decide on whether you need this kind of space for your business.
Renting Space
If you are thinking about renting space for your business you can expect to pay a minimum of around $700 on average for even a very small office. Office costs for setting up in a rented space also comes with overhead like electricity, phone, water and Internet access. These amenities alone could run around $500 or more a month. You must determine if it is important enough to start your business by adding these kinds of expenditures.
Computers and Equipment
You will absolutely need a computer, printer, Internet access, a phone line and other equipment related to your business. For instance, if you are starting your own photography business you will need camera equipment as well. No, you do not need additional office costs for a photography business. It can be done without extraneous space. You just have to be creative on your start up of this kind of business.
A computer can run you from $300 to $5000 depending on the type you want or need. It is advisable to get a multifunction printer that scans, faxes, copies and prints. This kind of printer can run around $150 to $1000 depending on the brand and the features. Internet access and phone can usually be bundled and is likely to cost around $60 to $80 a month.
Supplies
The basic supplies for a business include copy paper, word processing software, pens, pencils and any other kinds of office supplies you may need that pertain to your specific kind of business. It is hard to determine the costs of supplies without knowing what you need. You will have to do the math on that yourself. Just comparison shop and add up the costs to determine how much your supplies will cost you.
Advertising
Finally, you need the public to know you are in business. The costs for this will be determined on the who, what, where and how you advertise. You will have to research the costs on this.
Finally, it is up to you to determine whether it is worth the additional costs to rent space for your business. You may only need to designate a small area of your home or dwelling for your business and use your money for more important things. You need to consider how much you will be saving by avoiding office space. You can save, on average from $1500 to well over $3000 a month by utilizing space and equipment you already have.