coworking space whitefield

To buy, to rent, or to co-work?—the one dilemma that haunts all founders at some point. With this comes a volley of other questions and speculations. To make your decision quicker and your sleep sounder, we have created a list of pros and cons for each of these options along with the requirements they are best suited to. Take a look!

Co-working in bangalore

The days when work was confined to the four walls of an office are history. Give us a laptop and an Internet connection, and we can work from anywhere in the world.

The rise in self-employment and micro-businesses has made co-working a popular option.

Pros

  • Fosters a positive and productive working environment surrounded by like-minded people
  • Presents an abundance of networking opportunities
  • Helps avoid traditional startup costs, such as office furniture, Internet, and telephones
  • Provides all the perks of a big office—well-equipped conference rooms, chic cafeterias, recreational spaces, and more.
  • Offers optimum flexibility: purchase an hourly, monthly, or yearly subscription

Cons

  • Maintaining focus can be challenging for those who struggle to concentrate
  • Privacy can be an issue owing to the open space

You should be looking at a co-working space if:

  • You have a small team
  • You have specific, short-term goals
  • You need a well-furnished workspace that won’t cost a lot
  • You don’t have the budget for a lease and the accompanying expenses
  • Growth is your priority
  • You are disciplined

Office Renting

When your business has outgrown your living room or co-working space, and you’ve rowed out the treacherous waters of establishing your business, it’s time to think of something steadier—your own rented office!

Pros

  • Offers the option to pick an office in a preferable location
  • Provides space for current as well as future requirements
  • Facilitates refundable deposit and turns cash flow into working capital
  • Annual flexibility enables you to move in and out conveniently

Cons:

  • High upfront cost and long lease lengths
  • Variable costs like higher costs when your lease expires and annual rent increase

Renting is right when:

  • Your business is steadily gaining impetus and your workforce is expanding
  • You want to indicate financial health
  • Your business leans heavily on location. E.g. retail or restaurants
  • You have investment backing

Property Buying

This is a onetime investment option best suited to businesses that have signed non-disclosure agreements with clients. Buying an office displays confidence in the business and says, “I have a long-term plan and I intend to stick around.”

Pros

  • Offers more privacy
  • Offers more security—enables installation of physical security as required by the business. E.g. video surveillance and data security firewall.
  • Gives your business clear, fixed costs
  • Provides tax deductions by way of property taxes, debt interest, etc.

Cons

  • Heavy on the pocket owing to large initial down payment, property improvement, and maintenance.
  • Incurs various “hidden costs,” including service charges, and utility bills.
  • There’s a lack of flexibility for accommodating unexpected needs—owned office space may become inadequate for a growing business

Think of buying only when:

  • Confidentiality and security of data takes priority over conserving cash
  • Your business is thriving and you’re earning enough
  • Your priority is projecting a positive image for your stakeholders
  • You need to have control of your workspace in terms of what it looks like—structure, signage, storage facilities, etc.

Choosing where to work isn’t all about the lifestyle; it must add value to your business, whether it’s monetary or otherwise.

 

 

 

 

 

Experience our coworking space in

Whitefield & Kundanahalli Bangalore

We provide

Virtual Space, Hotdesk, Private office space, Meeting rooms in Bangalore

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