Most bookkeepers start out their business at home to keep overhead costs low. While this may be ideal for a certain period, your business is bound to become bigger and more established which may lead to the need to move out of your home and into a more professional space.
If moving out seems like a jarring decision for you, remember that there are certain benefits you can reap in the short, medium, and long term. One of the advantages of moving out is getting the chance to expand your space physically. Working from home often means sharing your working space with the rest of your family. If you have an office, you’ll have a space dedicated specifically for work. You can set aside tables for client meetings and a personal desk you can use for your daily tasks.
If you have your own office, it will also be easier to hire staff. This is especially true for people who want to keep their personal life separate from their business. Moreover, it will lend your business to a more professional feel.
What’s more, you can also attract more clients if you have an office. Having a brick-and-mortar will open more opportunities especially from walk-in clients. You don’t have to limit yourself to scheduled appointments anymore.
Some considerations before moving out to a new office
If you’re still undecided whether or not getting an office will be beneficial for your bookkeeping business then you might want to ask yourself these questions first:
- What is your business model? Is your business on the brink of expansion? Is working from home holding back the growth of your business? Are you uncomfortable with staff coming in and out of your home?
- Are you able to cover rental costs? Is the office close to your home?
- Are there possible buildings for sale in your area? How do you feel about buying a building instead of renting out? Is paying interest more economical than rent?
- Are there subleasing opportunities you can grab? Do you have a colleague you can sublet a part of a space you’re renting to?
Hopefully, this post will help you with your decision to move out into a new office.
Katrina Aarsman (BAcc) built a successful bookkeeping business over 15 years and sold in 2015. She now focuses her energies in helping other business owners grow their bookkeeping business with an emphasis on automation. Katrina offers customised mentoring programs, strategy sessions, and webinars. She would love to connect with bookkeepers with a desire to grow.