Consultant home office or shared rental office

[SirGrotius]

I’m a consultant and work with a couple other people who work remotely. For the past few years, I have had both a home office and a rental office where I share space with other people. I have had this rental office for about 8-9 years.

What I like about the rental office:
- Like to get out for the mindspace
- Feel more professional/dress up a bit more
- More professional sounding address for business
- Very close to cool restaurants, stores, parks
- Interact with other consultants, lawyers, architects, therapists, etc.
- Reasonable price
- More light (big window) than my home office (basement time!)
- Backup location in case internet outage

Why I’m considering jettisoning the rental and going full WFH:
- I have a nice, zen home
- I work from home already at least 50% of the time!
- Shaves off $1000-$1250 a month in fees (although business expenses can be somewhat deducted from total taxes)
- Might spend more time exercising/going outdoors (although not sure about this due to the office location)
- I can keep the business address alone for a small monthly fee
- Ecologically sound (although rental office is about 10 minutes away so not egregious)

Anyway, is it time, if you were a SBO (small business owner) of a consulting shop to go full WFH, or if you were in my shoes, would you straddle the hybrid model despite the monthly fee?

As a small business, we have had a bit of success early on but the pandemic hit us pretty hard, so are at a slower pace, thus, shaving off $12k-14k a year would be nice to have, but not requisite.

Thank you

 

[Master Milano]

As a small business, we have had a bit of success early on but the pandemic hit us pretty hard, so are at a slower pace, thus, shaving off $12k-14k a year would be nice to have, but not requisite.

I'm curious what did you end up deciding on?

 

[sajesak]

I’m a consultant and work with a couple other people who work remotely. For the past few years, I have had both a home office and a rental office where I share space with other people. I have had this rental office for about 8-9 years.

What I like about the rental office:
- Like to get out for the mindspace
- Feel more professional/dress up a bit more
- More professional sounding address for business
- Very close to cool restaurants, stores, parks
- Interact with other consultants, lawyers, architects, therapists, etc.
- Reasonable price
- More light (big window) than my home office (basement time!)
- Backup location in case internet outage

Why I’m considering jettisoning the rental and going full WFH:
- I have a nice, zen home
- I work from home already at least 50% of the time!
- Shaves off $1000-$1250 a month in fees (although business expenses can be somewhat deducted from total taxes)
- Might spend more time exercising/going outdoors (although not sure about this due to the office location)
- I can keep the business address alone for a small monthly fee
- Ecologically sound solar panels(although rental office is about 10 minutes away so not egregious)

Anyway, is it time, if you were a SBO (small business owner) of a consulting shop to go full WFH, or if you were in my shoes, would you straddle the hybrid model despite the monthly fee?

As a small business, we have had a bit of success early on but the pandemic hit us pretty hard, so are at a slower pace, thus, shaving off $12k-14k a year would be nice to have, but not requisite.

Thank you

Reasons to Go Full WFH:

1. Cost Savings: Transitioning to full WFH would significantly reduce your monthly expenses, which can positively impact your business's bottom line.
2. Work-Life Balance: Working from home offers more flexibility and can provide opportunities for better work-life balance, including spending more time on exercise and outdoor activities.
3. Comfort and Convenience: If your home office is comfortable and productive, it can be a more convenient and relaxed working environment.
4. Environmental Impact: Reducing your carbon footprint by eliminating the need to commute to a separate office is environmentally friendly.
5. Address Maintenance: If you can maintain a professional business address without the rental office, you can still project a professional image.

Reasons to Keep the Rental Office (Hybrid Model):

1. Professional Image: Having a separate office space can project a more professional image to clients and partners.
2. Networking: Sharing office space allows for interactions with other professionals, potentially leading to networking opportunities and collaborations.
3. Mindset and Productivity: For some, a physical office space helps create a productive work mindset and reduces distractions associated with home life.
4. Backup Location: Having a backup location can be essential in case of internet outages or other disruptions.

Ultimately, the decision depends on your priorities and your business's specific needs. If the cost savings are significant and the home office is conducive to productivity, transitioning to full WFH can be a practical choice. However, if the office space contributes to your business's professional image and offers networking opportunities, a hybrid model might be the better option.