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Do I rent or do I buy office space for my business

LegacyOperations

 This is one that we dealt with seven years ago ourselves. We were outgrowing our existing space and needed to move; just like some of you are now. We started to look at property in our area (Cool Springs in Franklin TN) and if you know anything about this area, seven years ago it was just starting to grow and is now the fastest growing area in Tennessee with BIG business moving here weekly. Anyway, we had to have more space and decided to BUY rather than RENT. Actually we decided to BUILD rather than RENT. We put together a group of other business owners that were in our same position, developed an LLC, bought the land, found a builder, built a building that would suit all of our needs and moved in. Sounds easy right? There were a lot of moving parts along the way that we learned a lot form but in the end it has been one of the best business and personal decisions we have ever made. Think about it; you personally own the building, your company pays the mortgage, you earn any left over’s after expense and you keep the appreciation, which in our case has been huge. So, in short, if you can and it makes sense do it, BUY don't rent. If you would like additional insight or just have questions - email me andy.bailey@mynationlink.com

Enthusiastically, AB

 

Profile: Andy Bailey

Founded in 2011 by entrepreneur and author Andy Bailey, Petra Coach is a business coaching organization working with leaders, teams, and corporations across the country. Through guidance based on Bailey's entrepreneurial experience and the book Mastering the Rockefeller Habits, Petra Coach helps companies align their leaders and team to meet clear goals and improve company culture. Through an interactive, people-focused curriculum, members have experienced an average of 50% growth in revenue per year as a result of their work with Petra Coach.