Bloomberg Covers April's Major Rent Poll News

Wow, Chuck. So many struggling with price increases from all areas, seems impossible to manage. Our focus is being derailed from the possible to the impossible. However, in the book, “Outwitting the Devil”, Napoleon Hill points out, those of us who caught in his trap of, “Drifting”, should come to realize it can be overcome. 

The scripture tells us,with men, it's impossible, but with God, all things are possible, to him who believes” . (Luke 18:27, KJV).

I work out of my apartment in a spare room converted to an office, so this perhaps doesn't completely apply to me, but a friend and fellow marketer recently moved out of his office space in a commercial building. His expected incremental rent increase was more of a skyrocket. Luckily his landlord was a "nice enough" guy to let him out of his lease early (so he could rent it out to a higher paying tenant). So my friend is now working from home. With jumps in rent like this, it's not improbably that small business owners may fall behind.

I’m a nurse practitioner/co-owner of a small medical practice. Our rent went up almost double post pandemic and all our vendors have raised prices by as much as 35%. It’s been a real struggle these past two years but we can’t raise the cost patient services to compensate. We can’t work from home because of state laws for practicing medicine. I’m looking for new office space and I am open to sharing office space and overhead costs with         other healthcare professionals and/or wellness professionals. 

For those who are looking for a way to combat high rents, its possible to create a work environment that operates off a remote model. Meaning All your data can be stored and managed centrally from 1 location on a self-hosted server, utilizing VPNs and other technology to interconnect your teams without the office building. They work from home, you are empowered to recruit from a national talent-pool and cut the cost of commercial space. 

Sure it's not for everyone, but many small service-based businesses can accomplish this type of operational structure. I know the whole "return to office" thing the big corporate guys are doing that's their problem, doesn't have to be ours. Imagine having a business that's light on overhead and running with the highest skilled workers (maybe you want to poach some guys from the massive layoffs your competitors did)

My point is, that maybe Small Businesses need to be looking at ways to solve this problem with technology. If you don't need a building, why pay for one to keep the status quo you didn't invent?

Since COVID everything has changed for all of us. From the high prices of homes, rent, food, gas etc.  What did we learn? Having only one stream of income can quickly put us at risk of being out of business. LegalShield not only empower and protect your families, businesses and your employees but we educate business owners  how they can join our mission and  earn commissions. Get paid daily while serving your clients and the small business community. Doctors, teachers, small business owners etc has joined us and taken back their time. We have been featured in Bloomberg, Yahoo Finance, Law 360 and many more. Is there any better feeling knowing you making a difference in people lives throwing out the life line to help our business community and their families thrive in such a Time As This?   

This support my choice to work from home and I know not all can but if you can please consider it a way to protect your biz..

Thanks Chuck! We noticed this unfortunate trend as well. It was imperative to set metrics for our clients to know when purchasing an office became more cost effective than leasing an office. Well qualified owners should consider this option, given the tax savings benefits of widely unknown strategies like Cost Segregation. Now consider, the revenue opportunities if you lease empty offices to your strategic partners.