Pros
Weekly Monday morning 8am meeting so that every one is there on time. Time clock for some employees to make sure some give the full 8 hour work day. No sick days which is nice because it means that there won't be any slack to pick up from coworkers taking time off. Work from home option for two employees, but nobody else. If you have a conversation with a co-worker, and you are a male, you get to go outside to have it so that the woman in the office don't think there is an 'old boys club'. Fresh air is always nice. There is no cell phone service in the office which is wonderful if you want to " get away from it all" for 8 hours. But that doesn't matter anyway because employees are forbidden from using phones inside the building. It's a win-win situation. No more texts from the wife to interupt the work day. The annual turn over rate is north of 50% so if you don't like your coworkers, that will change.
Cons
There might be some but I can't think of too many. I guess if you consider no pay raises, ever. That could be a con. No job promotions, ever. That's something an employee might consider a con. No holiday party, maybe another one.