How Much Rent Should I Pay for a Business?

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Location Can Mean Everything.

  • How much one should pay in rent for a business depends on the business itself. For many businesses "location can mean the difference between feast or famine," according to Nolo.com. If a location is critical to a business, in the case of a restaurant, for example, rent will be more expensive–especially in high foot traffic areas.

It Depends on the Business.

  • Rent can be high for any business, but it depends on the business itself. When it comes to "roofers, plumbers and Internet-based businesses," explains Nolo.com, "location is almost irrelevant." Indeed, "picking a low-cost spot in an out-of-the-way area might be an advantage" to saving on rent.

Bottom Line

  • How much rent one should pay for a business depends on what the business owner can afford. "Businesses that have little contact with the public," states Nolo.com, can save on rent. Nevertheless, when creating a business plan, estimate how much rent you can afford to pay against "projected revenues and other expenses."

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  • Photo Credit motorbiking in the city image by Robert Kelly from Fotolia.com stack of cash image by jimcox40 from Fotolia.com restaurant image by Francis Lempérière from Fotolia.com
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