Online is more efficient. Cuts time, handling of sheets, and can make the job ready for post-processing immediately.
Offline is more versatile, and requires less capital up front. You can feed materials through an offline coater that you might not want to try to run through your press.
The question is, "What do you want to coat?"
If you're wanting to coat pieces that you're printing on your own press, then go inline. If you're wanting to coat items from inkjet printers, silk screen printers, and/or digital presses then offline makes more sense.