Business Start-Up Cost Compared to Office Space at Merris Business Center
Spoiler alert! You know that the cost of starting a business and leasing a traditional office space will be far more than the cost of office space at Merris Business Center. But let’s just look at the numbers anyway. They are quite impressive.
The Scenario
Let’s consider a small business for our example, and let’s say it’s going to be you, an assistant, and a receptionist to start. You’ll need two offices, a reception area, and a conference room.
Start-up Expenses for Traditional Office Space
| Expense | Amount |
|---|---|
| Buildout | $12,000 |
| Executive office furniture | 1,800 |
| Assistant’s office furniture | 1,400 |
| Reception area desk and furniture | 1,600 |
| Conference room furniture | 1,500 |
| Phone system | 800 |
| Printer/copier | 350 |
| Total | $19,450 |
A recent search of loopnet.com found a 946 square foot office space in Franklin, TN, for $36 per square foot. The space is a “shell,” so you would have to build it out to your specific needs. Let’s look at your start-up expenses.
Start-up Expenses for Office Space at Merris Business Center
If you lease from Merris Business Center, your cost to walk in the door is zero. You have the reception area with a receptionist and a phone system, your two offices, and a conference room. You just bring your own computer, and you are ready to open for business. An added savings for you is the fact that the offices, reception area, and conference room are already tastefully decorated, plus you have access to a high definition printer, copier, and fax machine (a la carte).
Annual Expense Comparison
Now let’s look at a comparison of the annual expenses.
Annual Expenses for Franklin TN Office
| Expense | Amount |
|---|---|
| Yearly Rent | $34,056 |
| CAM Fees | 2,700 |
| Internet (Fiber Optic) | 960 |
| Receptionist Salary + Benefits | 35,000 |
| Utilities | 840 |
| Janitorial | 2,500 |
| Total | $76,506 |
Annual Expenses for Merris Business Center Offices
| Expense | Amount |
|---|---|
| Yearly Rent | Under $20,000 |
| CAM Fees | 0 |
| Internet (Fiber Optic) | 0 |
| Receptionist Salary + Benefits | 0 |
| Utilities | 0 |
| Janitorial | 0 |
| Total | Under $20,000 |
So your annual savings with Merris Business Center is an impressive $56,056! But don’t forget about the start-up expenses you save in the first year. That makes a total saving of $75,506 when you lease your space from Merris. The comparison speaks for itself.