4 Things to Consider Before Moving Your Business Into a Co-Working Space

Should I move my business to a coworking space?

If you work from home or run a business out of your home office, you might be wondering if it’s time to move your business into an office or coworking space. Here are 4 things to consider when deciding whether to move your business out of your home office.

If you are meeting with more clients

Are client meetings outside of your home keeping you busy? If so, it may be time to move your business into an office or coworking space. Having a convenient location to for clients come to you can reduce your travel time and logistical planning of meetings, while also increasing the time you can spend working.

Whether your home is convenient

Are clients coming to your home as a place of business? Consider where you live and the nature of the business you are conducting: Is your home convenient or easy to find? Is it near public transit or a convenient place to park? These factors can all be barriers for potential customers. If clients are having difficulty finding your home, it may be time to move your business into an office or coworking space. Coworking spaces in urban centers are typically located near convenient parking and public transit.

Are you hiring more employees?

Is your headcount growing? If so, you will have to decide where the people you hire will sit. Consider whether your home office physically has enough room for more workstations and if it is a convenient location for commuting. If your employees will work from your home office, determine how that will impact your insurance policies and weigh that cost against the cost of renting space. If your employees will be working remotely, consider the cost of upgrading to high-speed, reliable internet for virtual meetings. Offices and coworking spaces have access to high-speed internet and many will include it as an amenity.

Growing your network

Finally, consider the growth potential your business will have when moving into an office or coworking space: If you are working in an open, urban space, you are more likely to meet potential clients while going about your daily business. Working from a home office doesn’t offer the same opportunity for people to walk by and notice your business. Not only that, a coworking space allows you the opportunity to network with other small business owners, possibly landing your next big referral or client—the potential benefits outweigh the cost of renting a space.

In conclusion, there are several things you should consider before moving your home business into an office or coworking space. Consider where you are meeting your clients and if having a more convenient location would save time and money. Also consider your physical space and whether that is conducive to how your company is growing—as well as its future growth potential in a new space. If you’re not sure where to start, Grab Suite can help you determine if a coworking space is right for your business, as well as which rental plan would work best for you.