One of the biggest questions when it comes to starting a business is asking yourself where it’s going to be located. Find an office and set it up? How about a storefront or some other type of commercial space? Sometimes some laws may prevent you from doing what you want or finance wise some things just cannot be possible. Taking these out of account, the decision can still be a bit tough whether to work at home or to set up a business somewhere. These are some of the pros and cons that could help you in your decision-making process.
The benefits of having your business at home
There are plenty of benefits of having your business at home, of course, it also depends on what type of business you’re going after.
There is no commuting
There are plenty of benefits of not commuting such as sleeping in, avoiding bad weather, no fear of running late, saving money, and being more eco-friendly. If you’re looking to hire employees then these will all benefit them as well. You can still work with a remote assistant or any employee very effectively even if it’s remote. The COVID-19 pandemic proved that as well, as many businesses were having to switch to being remote.
Work-life balance can be far more manageable
Since you’re going to be at home and you can skip out on the commute. This means that you can stay up a little later, engage with your household more since you’re going to be at home, but it also allows you to do some multitasking. Since you’re going to be home, whenever there is downtime, this can be used to get some chores done around the house such as throwing a load of dirty laundry into the washer, cooking as you work, or little things here and there. By multitasking, you’re going to be able to save a lot of time and there will be less cleanup throughout the week.
No office politics or drama
For anybody that has watched The Office, or has even worked in an office can confirm that the workplace can be filled with so much drama. You’ll be less likely to deal with any of this drama as coworkers working remotely will only talk about work.
The startup cost is far lower
Because you’re going to be working from home that means you don’t have to worry about the down payment and the rent of a building. This also means you won’t have to deal with purchasing furniture, décor, or certain types of equipment such as a cash register or a copy machine. These costs add up, and they also contribute to making small businesses feel unobtainable. But it does go to show that you don’t need to spend a lot to jump-start your business.
The Cons of having a business at home
Unfortunately, there are some cons to having a business at home
Some homes won’t allow businesses
Depending on your mortgage or your rental contract, there’s a chance that you may not be able to have a business at home. Be sure to look to fha home loan requirements if you’re about to buy a home, sometimes there may be a requirement about not having a business on the property.
Some people may not take your business seriously
Unfortunately, there are some clients and customers that won’t take a business seriously if there isn’t an office or storefront. You don’t need to have a physical building to be professional but unfortunately, there are old fashion thinking people who still see it that way. This means that it may take clients some extra convincing for them to believe that your business is worth their time and money. But this can also depend on your business.
Some zoning laws will not allow people to run a business in their homes. It is unfortunate but it is something that should be kept in mind. Before you entirely set up your business, be sure to look into this first.
You can’t easily leave
When it comes to having an office or storefront, you or your employees are going to be more inclined to stay. Unlike remote work which often leads to people being finished and taking the rest of the day off. It isn’t always like that when it comes to an office or storefront. Closing early could lead to negative reviews online.
It can get expensive
Having a physical space for your business can get expensive. Whether you’re buying or renting, you can count on spending a lot of money. This includes the bills (if not included in the rent) but also needs to purchase furniture, décor, and certain office equipment to fill in the space.