Simple answer: What works better for the Owners. They're the ones who have to live with it.

Personally, I would start with everyone in the same place and then become more flexible regarding remote employment because it is much harder to go the other way (it will cost you knowledge when you lose employees), working together builds stronger relationships (most communication is non-verbal), and informal interaction is where many creative ideas are developed and interpersonal chemistry is created.

Good luck.