For growing companies, location is everything. Your company’s headquarters plays a part in the customers you market to, the candidates you hire, and the investors that take a risk on you.
Today, companies no longer need to be run from a single place. The evolution of your business may have you considering an expansion – and a satellite office can be a simple solution.
A satellite office is a branch of a larger company that is physically separated from the organization’s main office location. Companies of all sizes and locations can benefit from employing a satellite office – from startups to large organizations, for satellite offices down the street or in another country.
When should you consider expanding to a satellite office?
- Your business is growing quickly
If you’re hiring additional headcount for your business, your current office space might start to feel cramped as you get closer to reaching capacity. If you love your current space and don’t want to migrate everyone into a new building, a satellite office is perfect for hosting a smaller subset of your team.
If you are moving your whole organization to a new site, a temporary satellite office can handle your current overflow during the transition. Coworking spaces offer flexible, short-term agreements that can accommodate delayed construction deadlines and eliminate logistical issues.
With concerns surrounding social distancing and COVID, a satellite office can be helpful in adding more space to limit the number of employees in the office at the same time.
- You’re looking to seek out partnerships and collaborate
Collaboration is a powerful tool, whether it be for individual or corporate relationships. Having connections with other local businesses or entrepreneurs can help:
- Be a catalyst for inspiration
- Grow your personal network
- Provide a learning opportunity
- Solve problems
- Improve cost efficiency
Establishing a satellite office in a coworking space can put you in the center of startup activity – where you can organically network, stay updated on industry trends, and promote your goods or services to your community.
- You want to reach a specific talent pool
If you’re looking to expand, you may want to research if a certain area is known to be the hub for a type of top talent you’re looking for.
Many tech companies are settling in Omaha as it’s been dubbed “The Silicon Prairie.” Omaha’s proximity to the University of Nebraska-Omaha, UNMC, and Creighton University also make it a hub for talented young professionals.
- You want to explore a new market
If you’re thinking about entering a new market, setting up shop in that location can help you become immersed in the community and establish a presence there. It’s more convenient to meet with clients and partners, and you can learn first-hand about customer preferences.
What are the benefits of a satellite office?
- Cost efficiency
Starting a satellite office that is home to a smaller team is much cheaper than moving an entire workforce to a new building. You might also be able to reduce costs by hiring teams in areas with a lower cost of living.
Renting your satellite office in a coworking space significantly reduces overhead costs by providing desks, chairs, storage equipment, and by covering utilities.
- Address legitimacy
When you’re going there everyday, an office usually just feels like the location that you work from. But from the outside, establishing a reputable location can improve how others perceive your company.
Having an address that your clients, talent pool, and investors recognize helps to establish credibility and gives a positive first impression. Having an office in a well-known location sets the tone for what someone can expect when they interact with your company.
- Networking opportunities
Establishing a satellite office gives you the opportunity to surround yourself with other growing businesses and make your company a recognized name in the area. You can better connect with potential talent and collaborators.
Downtown Omaha is not only a hub for entertainment, but also for its density of startups, tech, and agriculture companies. Neighborhoods like the Flatiron District are quickly expanding for commercial space, housing, and entertainment.
- Resources for remote workers
With many pre-pandemic office workers transitioning to remote workers, many people chose to move since their job no longer tied them to a certain location. If you find that you have a concentration of remote workers in one metropolitan area, opening a satellite office can be a powerful tool for fostering partnership and aiding in retention.
Remote work isn’t always ideal for everyone, and having an office that they can visit and work with other colleagues can be a great resource for those lacking connection with coworkers.
Satellite offices are a convenient solution for many different types of companies, and offer numerous benefits. At Modus Coworking, we’re able to accommodate satellite offices for large and small businesses alike. Learn more about our rental options and schedule a tour.