If you do have the cash to lease or let a property, you’re not finished there. Overheads need to be included in your budget and these can be quite significant: 

·      Utilities – You will need a phone line and a broadband connection, heating, light and water. 

·      Telephone bill. 

·      Equipment – A photocopier (assuming you already own a computer) 

·      Office Furniture – Desks, chairs, filing cabinets and chairs or a comfortable sofa in the reception or waiting room area. 

·      Wages – A Receptionist and a Secretary to deal with your administrative tasks. 

·      Legal Fees – Payment to a Solicitor for the paperwork necessary to rent or lease a property. 

·      Building and contents Insurance. 

·      A Cleaner 

·      Travel costs

These are just some of the overheads you can expect to pay. Of course you have the advantage of having your own office and being able to choose your own furnishings and décor. Your budget however, might not allow you to work from the location that suits you best. Now look at your monthly budget costs if you rent a Serviced Office: 

·      Monthly rental for Serviced Office

·      Telephone Bill 

·      Photocopying and Secretarial support only when you need it. 

·      Travel costs

Not only is the list a lot shorter, but the amount of time you spend on day to day management is also reduced. A Serviced Office includes all the furnishings, a broadband connection, security, maintenance, reception and utilities. You can also pick a prime London location and work with other people who are in a similar business. If you’re still happy to work from home, but you want a London address and somewhere to host the occasional meeting, you can rent a virtual office with the following overheads: 

·      Monthly rental 

·      Telephone Bill 

·      Renting meeting facilities when you need them. A virtual office rental will cost you very little. The downside is that you don’t get to work with other people and that may mean losing valuable networking opportunities, but it does give you that London location, when in fact you might be living in the Outer Hebrides, or even abroad. 

 So, if you want to keep your overheads to a minimum, the smart thing to do is to rent a Serviced or Virtual Office and give your business the prestige of a London address.