Chris Hurn’s Take on Should a Business Invest in its Own Office Space?

April 4, 2020

For most business owners, their business is their LIFE; they breathe, eat and sleep their businesses. Their chief sources of motivation and distress remain – how to grow sustainably, how to operate their business with utmost efficiency and how to improve customer experiences. Largely, for any business stream, increasing equity while cutting costs represent traditional techniques of business success and wealth creation. Most business owners in order to achieve success and build wealth, often look for ways within their business operations, however what they unwittingly ignore is the fact that the best way to achieve both of these is by purchasing a commercial office space for their business.

Even the industry leaders, who deal with small business owners and help them in generating wealth believe this fact and often advise business owners that they should invest in Office space for sale in Noida. Here in this blog, we are discussing some key points shared by Chris Hurn, who is the founder and CEO of a big shot financing company and he is also a notable writer of many books that teaches their readers on how to create more wealth for themselves outside of their business.

Let’s take inspiration from Chris Hurn’s expertise –

1) Stop adding wealth to your landlord’s pocket – Hurn consider rents as a waste of money, which is why he is so resolute that entrepreneurs should not indulge in any type of rent payments. The idea is simple, why hand over your money to someone else that too month after month. Sharp business owners are always ready to implement policies that maximize prospects and limit wasteful aspects – and there is nothing better than buying your own commercial property than paying rent.

2) It is more affordable than most business owners think – It is a general belief that buying a commercial property and especially an all equipped office space is undeniably expensive. But according to Hurn, it is the biggest myth around commercial real estate and encourages entrepreneurs to examine the numbers all the more cautious. To his simple explanations, business owners get easy property loans and they pay fixed installments on fixed loan amounts with longer terms that does not change with market conditions. Doing this helps business owners to hold on to their cash, that too while creating additional wealth. So, Hurn advise every business owner from across the globe to never miss an opportunity to invest in commercial office space because of some kind of misconception.

3) Your own office space is your biggest business platform – Having your own office space opens up a world of opportunities for any business and for its owner. Having a space of your own allows you to cherish the full physical and economic use of the property. You can renovate your property as per your business or marketing needs, to wow your current and potential clients or to better engage your employees. They can even lease out extra spaces to others and earn handsomely.

4) Consider the long-term benefits – Hurn suggests business owners to do simple math, consider your monthly rental and multiply it by the number of years you want to be in business. Yes, the numbers are unapologetically HUGE and think about the fact that you are giving away this huge amount without getting anything in return. Now, consider what will you get once you invest in your own business property, benefits of appreciation, we understand that there is no guarantee, however real estate is considered a great long-term investment by most investment Gurus. Also, even if we don’t take property appreciation as chief benefit, rent is one thing that will never go down and will definitely appreciate every year and it is never ending.

Last but not the least, Hurn advice business owners to trust their instincts. According to him, property ownership is a thing that involves a perfect balance of risk and benefits, which is the chief attribute of any business and chief character of every business owner. Business owners take minor to major risks, most leave their settled jobs and jump in the sea of economic uncertainty to realize their dream of owning a business. In some ways, investing in commercial real estate involves a bit of risk, however investing in commercial real estate represents a great way to earn a payoff for taking the leap to become a business owner in the first place. And don’t forget the fact that owning your own space for business creates wealth for your family and business.

In another way Hurn suggest business owners to never stop betting on yourself, as you do while running your business and you will end up investing in a business property that will lead you to a well-funded retirement and another feather in a cap of success.

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