What’s Trending for Home Offices…
Entrepreneurs the world over have one thing in common, they all need an environment in which to plan, cultivate and grow their businesses; and what once started off with a phone, fax and copier at a designated spot in the corner of a living-room or a small desk in one’s bedroom and let’s not forget in some cases the use of the dining room table as one’s home office is no longer relevant for today’s home based business. Businesses need to grow and the need for added space soon becomes an issue especially when you are unable to produce to supply your demand. Home offices over the years have evolved to incorporate people’s changing lifestyle needs, as well as their businesses portfolio needs.
Real Estate is a key component for all businesses and rings true for home offices as well. Small business owners need to attract new business and clients like everyone else but how do they accommodate them with the rising cost of real estate or commercial rental costs. Here in the Caribbean and in our Twin Island the cost of commercial real estate has almost doubled in the past few months. Renting a location in a Mall Environment offers some advantages for small businesses where business owners get added security with the abundance of shops around the area, they also inherit extra security from the mall’s private security service as well as free parking for their customers but, for some the rental space may be less than adequate for the type of business they are engaged in and the rent can be astronomical. Finding a location outside of a Mall Environment may pose cheaper on their pockets in one aspect, but can cost them in other areas. The responsibility to afford a suitable security system is now on the owner and can be costly. Some of the utility costs that may have been incorporated into their rental at the mall location will now be an addition to their monthly expenses.
The newest trend for home based business are ‘Shedquarters’ these are uniquely designed bungalows specifically designed to meet the needs of the home-based business owner.
It’s becoming more of a trend to keep office spaces at home and for those who have ventured out we’ve noticed they are starting to move back in. There are many more pluses than negatives in owning a ‘bungalow home office’ for one: you choose your size, you construct a size according to your business needs. You can manage your utility costs better housing everything under one roof relatively speaking; your home property is already secured and if needed extra security systems can be added to beef up vulnerable areas. Your commute is zero, no stress of traffic to start your day and the very first business call you take, you could be sipping a latte in your pajamas. Working late just got easier; no longer do you have to commute after a long day. Some home business owners have dedicated an entire room or rooms of their homes for their businesses while others right here at home, have opted to install completely separate bungalows independent of their homes with separate entrances, and lounging facilities, complete with kitchenettes and bathrooms to accommodate their home business. Entrepreneurs are becoming more and more innovative and the design requirements of their ‘Shedquarter offices’ not only reflect but showcase their unique style preferences and tastes.