Costs are changing every year in the lower middle market. From day to day, things like technology, sale systems, and even rental costs are changing, usually as an increase in cost. The rate of inflation and year to year increases in costs is a part of any business plan, but so is the need to keep an eye out for ways to save money without diminishing the experience or offering of your business.
One way that a lot of people are starting to cut costs is rethinking the way an office works. For some lower middle market businesses, an office may just be a part of the operation. For example, if an ecommerce business utilizes drop shipping, an office space might not be necessary if the logistics are just coming from a few people with computers. In this case, a shared workspace may be great for keeping away a rental fee of an entire office while still offering a place to get things done.
The office is a place for work and focus, and many shared working spaces offer just that. If the running of a small business, at least for 50 percent of the work week, happens on a computer or laptop, a shared workspace is a great way to cut costs. It saves money in most cases, and also provides you with amenities. Many shared workspaces offer child care, workout areas, and even private conference rooms for team meetings.
A retail space is a little different, but a shared location can also happen in this case. For example, if a local boutique has been expanding and needs more space, the cost of a larger store may be too much. In that case, partnering with a local cafe to possibly share the space saves money and combines resources. While shopping, customers can grab a drink. Likewise, if you pop in for a coffee, a piece of clothing might catch your eye and keep you in the store to shop.
Collaboration is always a great thing, and that’s why SA Capital Partners makes such an effort to get to know their clients. It’s not enough to hear what they need and get to work. The team at SA Capital Partners makes sure they know you and your business. Everything successful in the working world starts with people. By utilizing knowledge built up over the years and years of experience the team has, SA Capital Partners uses the core of your vision and their expertise to ensure a bright future for your business.
About SA Capital Partners:
SA Capital Partners is an innovative financial services firm that specializes in mergers & acquisitions advisory and capital raising for lower middle market businesses. We aspire to give all the tools necessary to complete any transaction. SA Capital Partner’s financial services industry specialists provide comprehensive, integrated solutions to banking transactions. Our breadth of services and industry knowledge allow us to understand each client’s unique business needs. Our goal is to make all financial services available to every small business.