Home Office vs. Coworking vs. Rented Office

If you’re just starting out or making the leap from startup to full-time business owner, then the issue of office space will be one of the biggest concerns you’re facing at the moment. Which is why choosing the right space for your business can be vital in order to ensure you get off to the right start. Otherwise, you may find yourself with no space to call your own or too much space for you to handle.

With that in mind, here’s your choices between work spaces: home office, coworking and rented office space, and their pros and cons.

Home Office

When you’re just starting out, keeping costs low can be imperative to the long-term future of your business. An expensive office may look nice, but it could spell financial doom and gloom if you’re not prepared for it.

Plus, a home office has the added benefit of cutting out long, arduous, commutes. It means your costs are fairly limited as a whole. And the most attractive feature of working in a home office is the flexibility it presents, it gives you the ability to work as needed, but you then also have the ability to work extra things into your life more easily. Such as doing the school run, letting work men into your house during the day and even being able to do your shopping on your lunch break.

Coworking

All in all, coworking is quite a new concept–surging in popularity over the last few years or so. It means that more established businesses with multiple employees and lone workers can often be sharing office space side by side. As you can both rent a traditional space, with four walls and everything, or just an office desk. For your business, this will obviously be a choice based on how many people actually work with you. If it’s just you, then one desk is the logical choice. While you may want to choose a more traditional coworking space, the rented office room, it could be a better choice to go for the more traditional space, as outlined below.

Rented

Your final choice when it comes to office space is the classic rented office. For this, you will likely need the help of a commercial property management team in order to find the most suitable office. Location, amenities and even the facilities available in the office will all be important factors to whether or not you set up office in a rented space. But, understanding and deciding on those factors alone can be quite difficult as a whole.

Remember, a rented office space comes with added expenses such as business rates, utilities and eventually you will need a commercial rent review surveyor to help keep down rent payments/costs.

Final Thoughts

Ultimately, the size and shape of your chosen office depends upon you and your business. In order to have the right space you need to assess your business, it’s size and it’s needs (both now and over the next 12 months or so). These factors will change the way you approach finding an office and what will actually be necessary for you.