For the last four years our company has rented an executive office which means that we have an office away from home and where we can meet with clients easily.
An executive office is normally in a business facility that specializes in provide a service to the small businesses. In our case what we get is an office which is our own and we can keep files, etc in it and there is a locked door which we have the key for. Besides having our own space we also have access to meeting rooms, a fully equipped kitchen, a mailing address (not home address) and a full time receptionist.
Of course there are pros and cons of having an office which isn't at home.
A place there you can work without the home distractions being around you.
Meeting facilities where you can meet clients.
Opportunity to meet other business owners in various fields.
Receptionist that greets your clients.
Location where business mail/packages can be delivered without worrying if you are home or not.
Having to travel to the office more than the couple of minutes to take to grab a coffee before sitting down to work.
The additional expense for the business of renting the office.
Having to carry documents back and forth that are being worked on.
The location for us is very convenient and that is why we are renting where we are. The location is just one bus away from where we live so it is a relatively easy commute when we come into the office. It is convenient to get downtown from our office as well so other bonus.
Executive offices can be very fancy or they can be basic and that has a lot to do with your type of business and what you want to communicate with your clients. In our case we wanted something nice but basic to show clients that we don't spend lots of money on the office which is why we charge our rates.
For us our office is where we can come and even have our own meetings and it is also a place that I go when I need a change. It is also the place where some of my writing happens because the simple change of location can make a difference for me. An executive office can be very useful for some people and they may not meet the needs of others, that is a decision that each business needs to make.