Contributed post
One of the main benefits of running a business in today’s technology-driven world is that you can work completely from the comfort of your own home if your business is one that’s based online.
Although this is definitely a good way to go in the early days of your business, especially if you’re bootstrapping and trying to minimize your overheads, once you get to the stage of growing and scaling your business beyond a certain point, you may want to consider the option of moving to a physical office.
Of course you can still keep your business online, but moving to an office outside of your house has many benefits.
As with everything, there are always downsides, so below we’ve listed a few points for you to consider so that you can decide if it’s the right choice for your business.
Pros Of A Physical Office
- Sets a professional tone for clients – even with online businesses, especially service-based ones, occasionally clients prefer to meet in person, and having a physical office for them to meet you in instead of a coffee shop can set you apart from your competitors and give a more professional and serious image;
- It can boost productivity – no matter how disciplined and well intentioned you are, one of the drawbacks of working from home is that it comes with many distractions. From friends popping over for coffee, to family thinking you’re free to babysit at a moment’s notice, it can be difficult to switch off at home – if you’re in an office, then you’ll be more inclined to focus on work;
- You’ll have your team in one place – as much as remote working is great in terms of offering flexibility and promoting a good work/life balance, it also requires a good amount of trust in the beginning, and since not everyone is suited to being left to their own devices, you may find that a good chunk of your time is spent micromanaging staff, which definitely isn’t ideal;
- Equipment and maintenance can be included – when you work from home, you’re cutting into your own electricity, water, wifi, and other utilities. Not to mention you’ll be responsible for all your own furniture and equipment. If you go with a serviced office, then you can have everything from furniture and internet, and even contract cleaners included in your rent so that all you have to do is show up.
Cons Of A Physical Office
- Added overheads – renting an office is certainly not the cheapest thing, and although you may be able to claim some of the cost back when doing your taxes, it’s only something you should consider if it makes sense financially;
- The dreaded commute – probably the biggest plus of working from home is that you don’t need to endure the early morning commute on public transport or sit in traffic for an hour. Unless you find an office within walking distance of where you live, then one of the downsides of renting a place to work is that you’ll need to add on an extra hour or two to your day for commuting.
Whilst this is, by no means an extensive list, it should hopefully give you some things to think about when it comes to deciding if your business is ready to take the leap into having a physical office.