» » » Save or Spend? Pros and Cons of Renting an Office

Everything in the 21st century presents different questions that require a virtual set of answers. When starting a new business, one of the first questions that probably will present itself is office space versus home office space. Supposedly the traditional business needs an office space because there are employees that will be needed and a professional space is required for your graphic design clients.

Save or Spend? Pros and Cons of Renting an Office
The 21st century graphic design business has the flexibility to flourish in a variety of settings. To preface the pro and con discussion, the success of your business does not depend on whether you have a swanky office space on 5th Ave or if you move the kids into one bedroom and claim the 3rd bedroom as your office of choice. Your graphic design business will succeed dependant on your creativity, determination and willingness to adapt to the virtual business formula.

Pros for Office Space

1. Work is Kept Away From Home and Family
You can go to the graphic design office, do your work, meet with clients, have conferences and then lock the door and walk away from work to enjoy dinner and spend time with your family in the evening.

2. An Office Space in a Commercial Environment
Your presence in an office building gives you exposure to other business who may need your graphic design expertise thus increasing your profits.

3. A Staff to Share the Work Load
The receptionist can answer the phone and take messages or answer questions. This lets you work uninterrupted on your graphic design projects.

Cons for Office Space

1. Increase of Overhead Expenses
Rent will be an added expense along with tenant insurance, utilities, furniture and salary of employees.

2. Inconvenience of Not Having Projects At Your Finger Tips
You want to get home so you can have dinner with the family but your project is not complete so you go home, then you leave and drive back to the office and work late then drive back home.

3. Less Profits
Unless the particular location where you have chosen for your graphic design business to be located will increase your revenues substantially, your profits will plummet

Each "pro" and each "con" also has the other side. The flexibility that an office from home has is one of the most powerful arguments. But the decision will have to be made on an individual basis because there are people who cannot get motivated to work from home but give them an office space and the mercury rises on their production abilities.

The bottom dollar is what makes most decisions for the graphic designer. Your client is most concerned about getting the unique product that you can provide rather than your office space.
With the global aspect of business in the 21st century, renting an office space does not have its normal perks. 

The graphic designer will have to meet with clients locally from time to time but with your global eye, dare we say 95% of your graphic design business is going to be with clients who meet you via Skype or polycom?

About Denny Jones

Hi there! I am Denny, a personal finance blogger and I love to share tips related to managing finance for a better living. Follow my blog for lots of fresh and exciting tactics to control your finances.
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1 comments:

  1. Good post. It's hard to decide which is better for a freelancer trying to grow their business. I know personally that I like being able to get on my computer and work anytime with my home office, but I was much more productive and time efficient when I rented commercial space.

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