Startups · Entrepreneurship

What is the right time to move out of a coworking space and into an office?

Kashif Jehangir Assistant Manager Administration at Private Company

September 19th, 2016

Would moving into a bigger and dedicated office space depend on stage and revenues of the company. Currently working out of a coworking space but wondering what is the right time to move out and support the growth of the business with this piece of the logistics.
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Rod Abbamonte Co Founder at STARTREK / @startupHunter / @startupWay / @CoFounderFound / @GOcapital / @startupClub / @lastminute

September 19th, 2016

When it makes sense economically and strategically. 

Joanan Hernandez CEO & Founder at Mollejuo

September 19th, 2016

What is the right time to move out of a coworking space and into an office?


When it makes sense economically.

What makes sense economically? When the cost of renting doesn't affect significantly your cash flow nor your profits. Obviously you'll be selecting an office lease that the company can afford.

Cheers!

Michael Johnson Chief Operating Officer at Myers Media Group

September 19th, 2016

In my experience, this depends on the nature of your business somewhat.  If you have reason to expect customers or vendors to visit you with any regularity, and it is important in your situation to convey more business maturity, then I would accelerate the decision.  If your employees can work remotely, and if you don't feel you are losing productivity due to loss of collaboration, you can defer the decision a while.  For my companies, moving to creative office space reaped big dividends in productivity and corporate identity every time, not to mention significant recruiting and retention benefits.   It can be a significant expense, but the tangible and intangible gains in employee satisfaction can be equally significant.

Venkat Rangamani

September 19th, 2016

You should stay there as long as you can. Hubspot is now a company with a $2B market cap and they didn't move out of the Cambridge Innovation until they were a hundred plus people.

Coworking typically spaces provide phones, internet and other IT services, a kitchen with a coffee machine and snacks, janitorial services, a reception, security at the entrances, among other things. Also they have an attractive location that is usually commuter friendly. You'll need to take care of many of these things if you are on your own and you'll need your own staff to do this. Ask yourself if that is a worthwhile distraction for you now. If you aren't big enough its not worth it. Focus on the core issue of growing your business instead.

Suryanarayanan A Head, Incubator consulting services at Bhiveworkspace

September 21st, 2016

stay as long as it does not affect your business. In a co-working environment you get a lot of pluses like similar entrepreneurs to discuss  similar problems, which may not be available as easily if you move in to your own office. Least of all co-working space at least in co-working spaces like Bhiveworkspace, Bangalore, India is far more economical with less admin headaches than your own office