Knowledge Base — Home or Office?

What exactly is the value to my practice of having an office? For some, getting an office is the next step but it isn't necessarily right for all. What value does having an office bring to your business, and could that investment and monthly cost be spent better elsewhere?

Will it build your business or just be an unnecessary overhead? Remember, you will probably be tied into at least a three-year contract, if not more. You also need to consider the whole cost, it is not just the rental but also service costs, insurance, broadband, phone, furniture, etc.

Office units in business centres offer wonderful opportunities to network with other businesses. As you grow you need to bring your team together and an office will enable this; it will also provide a central hub and much-needed storage space for client documents. It also provides a presence for your business; some practices have taken premises on high streets which clearly puts you in the public eye.

One of the questions you may have asked of your practice is without an office, how do you bring your team together and also keep a profile in my local community? Linking with a business centre that offers hot-desking and meeting rooms can be the answer. This gives the ability to have a flexible cost-efficient option that meets business needs; and the key attraction is the ability to connect with local businesses in the area.

So, to office or not — basically, the question you really need to ask is "What value will it add to my practice?" Every practice is different and getting an office is not necessarily the next step but for some, it will be a step well taken.