Is it getting to the stage with your business that you may have outgrown your home office? How exciting! There are so many things to consider and think about when deciding between staying in your home office or moving to a serviced office or other option:
Have you thought about what the next stage might be?
Do you have staff, or will you be looking at adding staff?
Will you look at leasing commercial premises or would a serviced office or co-working space do the trick?
Or could you move your home office into a bigger area of your home?
Let’s walk through some of the decisions you need to make, as you grow and scale your business
First Decision: Home Office Or Serviced Office?
Operating your business from a home office has many benefits:
- Low or next to no costs
- Flexibility with family life
- The convenience of walking a few steps to the office (or even working in your PJs, if you wish)
However, the downside is that you can find you are always working or never have enough office space to effectively run your business. And the lines between the home and work life are always blurred. Does that sound familiar at all?
If your business outgrows your home office situation, then you have another decision to make too:
- Rent premises with a long-term lease
- Use a serviced office
- Find a co-working space or hot desk space
Another quadrium on top of all that is – staff.
Hiring Staff To Grow Your Business
Will you need to hire staff? Have you outgrown our home office because your business is growing?
If your business is growing does this also mean that you will need assistance in meeting client needs or with general admin? When it comes to staff, you also need to decide whether you want to actually put on a staff member directly or will you outsource the work to a contractor? Either way, hiring means additional costs:
- The cost of recruitment
- Wages
- Tax
- Workers compensation
- Annual leave and long service leave if that’s applicable
- Sick leave
- How you manage when staff are on annual leave and sick leave
And hiring the right people for your business takes time (and we all know time is money).
Make A Plan For The Short And Long-Term
Make a plan and think about what you want to do and how you are going to get there. what are your short-term, midterm and long-term goals? To meet these, will you need:
- Space for client meetings?
- Office space for staff?
- Storage?
- Space for staff training?
Looking At Options That Roll It All Together: Serviced Offices
Have you ever considered using a serviced office solution to handle all the needs your growing business has? A serviced office means you don’t have to worry about the set-up costs or running your own offices (as well as maintenance). With a serviced office you can just hire the space you need when you need it. As your business grows you can expand the serviced office space you utilise and start using more of its facilities.
Not ready to commit to a serviced office? An option is to start with maybe utilising a hot desk or two. Then hire meeting room space, as you need it. Then as demand grows, make the transition to move into your own serviced office space.
By utilising a serviced office you can also open yourself up to their other services too:
- virtual receptionists
- virtual office support
- catering options for onsite meetings
- Meet and greet your clients
- And other benefits tailored to your business needs
Call SOI today so we can show you the great benefits of our serviced offices and how we can work with you to grow your business.
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