It can be
complicated in determining when is the right time to move your home-based
business to a separate office space in.
Moving too soon can result in overhead that is outside of the current
cash flow ability. Waiting too long may
result in loss of customers or jobs. Operating out of the home can be a big
plus for many small business owners. By significantly lowering your overhead
expense, you can improve your profit margins in good times and reduce your
risks if the business cycle heads down. The advantages of moving out of your
home office boil down to increased professionalism, more space to work and
unlimited growth potential. Of course, with any advantage come a few
disadvantages, but nothing that can't be overcome.
There are a
few signs that let you know it's time to go out and look for an office
space. For example:
Interruptions:
- Dogs barking and family members needing your assistance will not only minimize your productivity but can be heard on calls and teleconferences. While most understand the demands of juggling business and home life, constant interruptions and background noise are not necessarily helpful when you’re trying to project a professional image.
Outgrown Space:
- Businesses that need a great deal of space or that need bulky equipment are obvious candidates for outside offices. But some businesses that don't need to be operated from outside offices can benefit from them. You're struggling to fit the new printer but you're struggling because there just isn’t room between your file cabinet and the queen-sized bed that also sits in your office. Maybe you do need a larger space that can be devoted just to your business. Piles of equipment or papers that are interfering with either your work or your family life also send a signal that it’s time to consider an outside office.
Space for Clients:
- When a big portion of your business involves meeting with clients, you may need more than just the local coffee shop. When you want to present to a larger group or need a truly professional meeting space, you’ll need to find something a little more appropriate than a cafĂ©. One option is to rent office space – you’ll get a set amount of hours in an office, along with access to a conference room.
Some
businesses operate most efficiently when they are located close to customers,
suppliers, or certain other facilities or businesses. For example, law offices
are often located close to the county courthouse, in part to minimize the time
spent running back and forth to court. Also, many customers or clients seem to
feel that a business with a permanent address other than someone's home is less
likely to be a fly-by-night operation, and more likely to be able to deliver on
guarantees.
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