As a start-up owner, there are many challenges you are likely to encounter and lack of a formal office is definitely one of them. You don’t have enough money to rent out an office in town and neither do you have the “connections” needed to survive in the streets. Your father is not a real estate mogul either. So how do you go about operating your business without appearing like a “briefcase company” in the eyes of your customers?
Consider Renting Out Shared Office Space
Image Rights/ Share America/ iHub
In most cases, you can save on office rent by simply running your business out of your home. But if you don’t have an extra room there either, or if your clients insist on meeting you in a physical location you can consider co-sharing an office space.
By co-renting, you team up with other like-minded entrepreneurs and co-share the space and the rent. Under this scenario you can use the building’s physical address, reception and conference room to run your business.
However, not all buildings will allow you to co-share and so we did our research to find you a few of those that offer this helpful option in Nairobi. (Facts & Figures Courtesy: Akilah)
Nairobi Garage – You pay Ksh20,000 per month or Ksh2,000 daily use of the office space. Located on Ngong Road, Piedmont Plaza.
iHub – Located along Ngong Road, Bishop Magua Plaza, iHub charges Ksh15,000 per month for prime offices located near the CBD.
Nailab – Also located on Ngong Road, Bishop Magua Plaza, the Nailab is a shared workspace where you will find desks, Wi-Fi and boardroom space. Membership is free, though on an application-only basis.
Pawa254 – Located in the Africa Alliance of YMCAs building off State House Crescent, Opposite Ethiopian Embassy. Here you pay monthly rent of Ksh10,000 or a daily fee of Ksh500 to use the office space.
Other places where you can inquire for co-shared office space include TRV Centre in Parklands and Purshattom Place along Chiromo Road.
Generally, these types of rental arrangement cost less than a quarter of what you would pay to rent a full office space.
Work With Online Freelancers
If you are operating without an office, avoid hiring full-time employees before your business starts to rake in significant profits. It may be in your best interest to hire online freelancer so you can get assistance on services you can’t do yourself.
For instance, you can seek the help of a virtual assistant to help you with anything from booking reservations to handling emails. You can use sites like upwork or kuhustle to find designers and programmers at a small fee.
You will be able to expand or shrink your team according to your business needs and that way you will also be able to dedicate enough time to growing your enterprise without incurring unreasonable cost. In addition, you will be able to go beyond the one-man team shadow and tap into world-class professionalism which is definitely good for your business.
Invest in Equipment That Empower You to Work Anywhere, Anytime
Image Rights/ AfkTravel
The right equipment can help you set up shop in whichever location you need or want to be. A smartphone that allows you to check and respond to email, browse and use apps will prove invaluable.
A laptop computer is also essential for you can check in to your local coffee shop to use free Wi-Fi. With these gadgets, you can make good use of online collaborative tools to run and even manage your teams virtually.
- You can use Basecamp to plan for projects and track progress.
- GoToMeeting to do customer demos or conference calls
- Quick Books for online bookkeeping and accounting
- Google Docs for online documenting…among others.
Buying A Business Address
Image Rights/ GoogleMaps
Still, you can choose not to rent or even co-share an office-space to further save on cost. In that case, all you need to do is rent a business address which you will be using formally for your business.
For instance, you can rent an address say in Kileleshwa and be running the business from your bed-sitter in Eastlands. In that case, you will maintain a professional, high-end image and still operate at very low cost.
But why does that matter? In some businesses, image is very important. By having a high-end address, you can attract more clients and receive better offers.
One company that rents out prime business address here in Kenya is Regus which charges Ksh4,000 per month inclusive of services like Mail handling, virtual office, video conferencing and telephone answering services.
Take Home
So…Yes, it is in fact possible to get your business moving even when you’re short of capital. Forget about paying those expensive good-will charges in Moi Avenue or booking expensive business licenses that suck all the energy out of your bank account.
You can use any of the tips used above to successfully nurture your business without breaking the bank.
