Most people prefer to have their business space outside their homes, but due to the costs, many young entrepreneurs start with the idea of working from home. What are the pros and cons of a home-based business space?
Doing business without professional space
If you have just achieved your first customer as a single person business, you probably have many other issues on your mind than looking for an expensive office to rent with a long-term contract. Presently, business space is undoubtedly one of the more expensive things for an independent entrepreneur. Many companies don’t need much more than a telephone, computer with internet, a good office chair and maybe a few cups of coffee a day to get started.
Take for example the web designer, photographer or real estate agent: they can do well in the first months without luxuriously furnished business space. For many entrepreneurs, the general loft room is the ideal place to start their own business.
Advantages of an office space
Finding your perfect office space has diverse benefits. The following characteristics are a big plus for many entrepreneurs:
#1. Having the appearance
Your own office and visiting address can give your company a more professional look. In this way, you show that it’s not about a temporary business or a student in the middle, but about a company that is located in an office and therefore radiates more continuity.
#2. Feeling of work
The mental aspect of going to work every day can have a significant impact on your overall business. You go to work in the morning instead of not leaving the house all day.
Company spaces are often placed together. Because of this, you sit between companies and therefore between potential customers or partners. Certainly, renting a space in a multi-company building very beneficial for your own profession. If this is your most important consideration, take a look at a business incubator!
A real office suddenly makes your company more accessible to suppliers. Besides, there is a good chance that there are some catering establishments in the area.
#5. Separating private and business life
Many entrepreneurs who work from home have difficulty separating work from their private life. By working at the office, the home becomes private again.
With a business space, you may also feel more like an entrepreneur, and you probably radiate that too!
Disadvantages of having a business space outside of your home
There are also reasons why you shouldn’t rent offices if you aren’t sure about this idea.
One of the most significant advantages of working from home is that you don’t have to travel much. You just have to get out of bed to get started! But when renting a business space, something else comes up: the costs.
If you decide to work from home, there are much fewer costs than if you choose to rent a business space. Not only you must pay the rent, but you also pay for travel expenses, electricity costs, an internet connection, a telephone connection, the cleaner, etc.
You don’t have all these extra costs if you work at home.
#2. Less flexibility
Another reason for not choosing to rent (or buy) a business space is that when working from home, you still maintain your flexibility, at least in terms of working hours.
Costs and flexibility could, therefore, be reasons for not taking up business space for a while. But there are other motives for not doing it. One of these is, for example, that when you rent a business space, you are stuck with a contract.
If you plan to buy or rent your own office space, the critical consideration is the design. Do you only start with a desk, chair and laptop, or do you want to paint all the walls and decorate the meeting room in a modern way? Don’t underestimate it!