Commercial Real Estate Financing
The Time for an Expansion
With another agency moving into the same niche, the owners had another conversation about expanding and becoming a more full-featured agency. This time, they decided to do more than chat. They started looking into their options. Even moving forward with office space for the business would enable them to get much more done.
At this point, they weren’t entirely sold on whether this was the best option. However, they decided to do more research and come back to the conversation. The first step would be to find out how much it would cost to update their operation.
The Cost of an Office Space
The owners looked into the price of office space in their small city. They searched different locations nearby since they wanted to ensure it was easy to commute from their current home office to the new space. As they started to do this, the excitement about expanding began to increase.
In the end, the research indicated that the owners would need $200,000 to acquire an office that would give them the space they needed now, as well as some to grow on.