Business idea - renting out offices?

I have been thinking about a business ideas and would like to know if this would be a good idea and if it would be profitable.

I would like to buy or rent a building and then divide it into offices. There would be a front office that would provide general services for all the renters, such as answering calls, distributing mail, making copies, sending faxes, etc. and a conference room available for meetings.

I like this idea since I would have a place to open a bookkeeping business also.

Does anyone out there have a similar business? Would renting or buying a building be better? Any input would be appriciated!

Yes, they are called executive suites operations. You charge rent, then you also charge for all the services you mentioned, as well as secretarial services, etc. It's a whole category with a lot of competition already. Linked below is a site that gives you a list of executive suites operations in a particular area.

I have heard of something similar to this but they were generally non profit/subsidized situations maybe called business incubators. There is no reason it wouldn't work if your in an area large enough to have a demand for these services this would seem to be the next step up from a home based business. I would think that if you were going to do something like this I would look into renting office space initially. You would have to look at your lease and zoning regulations to see how feasible this is. But it would be a great way to grow your bookkeeping business.

All three previous answers are correct, at least to a good degree. Alan, though, is dead-on accurate. To answer your question regarding the building, leasing would obviously require less up-front capital and not require a long-term commitment. However, many landlords are skeptical of subletting and often want the extra income generated thereby. Thus, it must be made clear exactly what you are doing to any potential landlord and carefully crafted into a letter of intent prior to signing a lease.

Good luck!

You'll need capital.

Regus and others have already been offering similar services.

Acquiring leases and getting clients costs money.