Running Business from Home Versus Renting an Office?
When you think of launching a business; there are tow options to getting premises. The two are to rent an office in a busy commercial set up or work from home. Each of the options has its modalities, pros, and cons. A look at each can help you decide which options fit your business. Bear in mind the nature of your business since it is very critical when making this decision. The office is the traditional way of starting a business. Running Business from home is a revolutionary trend that is powered by the possibility of connecting to the clients through the internet.
When you rent an office, it is direct way to telling the public that this is a business and not a home. As such, clients will be arriving at your business now and then. Your office will be together will other offices in the same building. Your office will be located in a building that is adjacent to other buildings with other offices. You get the opportunity to network when there are such offices. This is not possible if you are working from home.
There is more working space with rented office. In this case, all your employees can work from the office. When the communication equipment is considered, it becomes a great advantage. A rented office has higher business security. There is provision of tight security within the office building. Still, you include additional security measures.
It is a great alternative for some business to operate from home. One of the freedoms you get is the chance to work at any time you want. This is different from working in an office that is limited to the opening and closing hours. In case you work from home, you have freedom to work with your own schedule or when you have a client.
Working from home is another way to cut costs on rent. There is no need to rent an expensive office in the busy street as you only need to convert a room in your home to the workstation. You will continue paying normal bills, and you will not meet additional costs.
Home business gives you a high level of security. If you are working from an office, it is likely that clients to other business land into yours causing distractions. Despite having the networking opportunities, is poses a risk to your business privacy. At home, you have control, over your privacy.
Working from home, however, limits you to size. It is not possible to bring your employees to single premises and let them make optimal use of resources. Instead, they will have to work remotely where you have no control over them. Home offices are nice for small business while rented offices are best for larger business.