If you’ve just set up your company, then it’s a no-brainer that you should be leasing your office space. However, if you’ve overcome the initial teething problems and can show year on year growth, then you should be looking at building your own office space, a headquarters for your company. This isn’t the obvious answer; indeed, there’s a big debate as to whether owning, building, or leasing is the best option. However, for the ambitious company, there’s only one answer.
It Shows Ambition
The world’s biggest companies have offices all over the world, but they always own their base. Upping sticks and moving away from a crowded office block to your own territory will show you have the confidence to strike out on your own, not just simply follow wherever the rest of the crowd is going. Having your own campus, ala Google, Apple, and the rest of the Silicon Valley giants (though yours will be nowhere near as big) will clearly demonstrate to investors and business partners that you’re in it for the long term – and have had the past success to able to put down your roots.
It’s Not As Expensive As You Think
Many business owners mistakenly believe that building an office is just an expensive alternative to leasing office space, but this isn’t the case. The start-up costs do differ, of course, because there are usually none for an office. But beyond that, the expenses tip in favor of built offices. Take the cost of metal building offices; they’re relatively affordable in any case, but on top of that, they’ll last for years on end, and there won’t be any monthly fees to pay. The money you have invested in your property will stay in the property and thus build your equity.
It Can Bring In Money
Building an office also gives you a chance to make some money off it, which can help offset the costs of building it in the first place. If you make a big structure, you’ll be able to rent out office space to other companies. If you continue to grow and eventually need the office space back, you’ll be able to take it back having used it as cash-cow in the interim.
It’ll Be The Face of Your Company
Beyond the economic advantages of building your own office, you should also think about the company culture it’ll allow you to create. There’s only so much you can do with a leased office; it is, after all, not yours. If you own the property, you’ll be able to put in the features that will help solidify your brand. It’ll be the face of your company and will invigorate your staff at the same time.
There are plenty of benefits to building your own office space, but it’s important that you talk with your financial advisor before making the jump. Also remember that you’ll have to factor in the time to make the switch before you move, too, as this may affect business operations.