Running Business from Home Versus Renting an Office?
There are two option to business premises whenever you think of launching a business. Renting an office in a busy commercial setup or working from home are the two options. Each of the options has its modalities, pros, and cons. It is prudent to give a look at both and then decide which is your best fit. A careful decision will be very important since the nature of the business is very crucial here. The office is the traditional way of starting a business. Home Office is a new way of starting a business that is highly fueled by the ability to access the market from home.
When you rent an office, it is direct way to telling the public that this is a business and not a home. This way, clients will be flowing into your premises. Still, your office will be located in a building with other offices. The same building will be amidst other buildings with other offices. You get the opportunity to network when there are such offices. If you are working from home; the networking opportunities are limited.
When you rent an office, you have more office space. 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. The office building is under tight security control. You also add security measures for your business.
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. Contrastingly, working from office is restricted to the opening hours and closing hours. In case you work from home, you have freedom to work with your own schedule or when you have a client.
You easily cut off rent costs when you work from home. As you can convert a room in your home to be a workstation, you don’t have to rent an expensive office in the busy street. You will continue paying normal bills, and you will not meet additional costs.
Working from home gives your business high level of privacy. There will be distractions as clients for other offices knocks your business. Despite having the networking opportunities, is poses a risk to your business privacy. You have control of privacy back at your home.
When working from home, you business is however restricted in space. It is not possible to contain your employee in single premises for optimal use of resources. Instead, they will have to work remotely where you have no control over them. A larger business needs a rented office while a small business can operate from home.