Renting an Office vs. Working from Home: Which Can Save You Money?

For many entrepreneurs, operating an online company has a number of major advantages over other traditional business ventures. Most often, the biggest advantage is the flexibility in locations in which you, as the owner, are able to work remotely. This can mean anything from relaxing by the pool in a remote beachfront villa, or simple sitting at your desk in your suburban home.
At a certain point, however, most small businesses need to explore the option of renting an office. Even though the thought of having no official headquarters is enticing, many times it simply makes sense for your growing company. Here are a few ways to help determine whether working from home or renting an office make sense for you.

The Benefits of Working from Home
Working from home very well may be the reason you left a traditional career in pursuit of securing your own future. There are numerous benefits, the list most commonly being dominated by the flexibility this type of work schedule provides. A few of the most popular perks of working from home are:

  • The ability to spend more time with family
  • Flexibility to work from nearly any locale
  • Operating in a less stressful environment
  • Saving significant commute times

Why Renting an Office Can Make Sense
Face it – as an entrepreneur, you goals and ambitions are likely to grow your great business idea as much as you can. At some point, the need for space or a more professional presence may force you to consider renting office space. Here are a few reasons why you may want to consider a traditional office:

  • You need professional services such as a secretary and support staff
  • Having a professional environment can help boost productivity past what is possible from home
  • It provides a great location for meeting with clients and associates
  • More dedicated room is needed for your company, such as work and storage space, than is available at home

What are the Other Options?
With the advances in technology seen over the past few years, many small companies are using virtual offices. These virtual offices, located in large cities all around the world, give you many of the perks of having an office without the unneeded overhead. Some unique advantages include:

  • Small monthly costs as you only pay for services and space which you need
  • Services such as mail receiving and processing, receptions and professional phone systems
  • Offices and meeting rooms which are useable for a small charge whenever you need them
  • You’re able to rent virtual office space anywhere in the world, allowing you to have an official address for your company in nearly any large city on the globe

Each business is different, and will have different needs in the way of professional space. Sometimes, working from home makes perfect sense, even as your venture scales, but other times some sort of rental location is needed. Be sure to examine every facet of your business in order to determine whether working from home is a viable option for your growing company, or if a rented or virtual office will help secure expansion in the future.

Mike Gardener is one of the owners of TheOfficeProviders. He is a real estate investor with many interests in other sectors. Mike researches and contributes various written features for TheOfficeProviders in areas regarding real estate, including office space for rent and serviced offices, and general business and economy matters. Mike is experienced in the inner workings of both the traditional and flexible workspace industries and has developed close links with various figures in real estate circles, as well other circles

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Mike Gardener is one of the owners of TheOfficeProviders. He is a real estate investor with many interests in other sectors. Mike researches and contributes various written features for TheOfficeProviders in areas regarding real estate, including office space for rent and serviced offices, and general business and economy matters. Mike is experienced in the inner workings of both the traditional and flexible workspace industries and has developed close links with various figures in real estate circles, as well other circles.

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