Today, working in an office is not a simple concept anymore. When you say, you want to rent an office space, it can mean a lot of things. You can either sublease office space, work in an executive suite, rent a portion of a coworking space, or rent a space in a business center. Aside from this, there are still a lot of options for workspaces.
Those who are still starting their business would likely search for something cheaper, smaller, and located in a particular location. Most of all, it should be more flexible compared to the offices of those businesses which are already established. Typically, the most common choices are a coworking space or an inexpensive renting situation such as subleasing. Here, we are going to explore each of these options to help you in figuring out what is best for your business.
What are the Benefits of a Coworking Space?
Basically, a coworking space is any location where groups of individuals or separate individuals work in a common space with proximity. Aside from sharing common spaces, they also share the services provided. Nowadays, coworking spaces come in different sizes and shapes, making them attractive to companies searching for flexibility. You can either find coworking spaces in the suburbs or in the city. They provide entrepreneurs, freelancers, creative individuals, as well as small businesses the opportunity to get away from the monotony or isolation of working in a coffee shop or at home. A coworking space is just like a lounge, an office, one huge room, or a group of connected rooms.
Usually, they include several amenities such as kitchen areas with a variety of snacks, access to Wi-Fi, unlimited coffee, tea, juice, or other beverage, private offices that can be used for a certain period of time, conference rooms, as well as furniture including tables, desks, or couches.
Most often, these workspaces can also be used for community events, seminars with guest speakers, meetings, a shared office for reception, standard office equipment such as printers, or an office for answering your company phone calls. The following are some of the relevant benefits of renting coworking space.
It is More Flexible
Now, businesses such as a small family-owned company that occupies their own floor in a local office park or a large corporation with several city offices, do not seem to remain static anymore. During the early days, employees would literally spend their whole careers working for a single company. Now, businesses have grown rapidly, sometimes there are others that grow slowly but always hope for the best. Also, they often relocate their employees to various locations depending on company reorganization.
Unfortunately, with too many uncertainties and perhaps limitations in capital, most especially for startups and newer companies, a coworking office space would be a great option. Most often, these coworking spaces will offer you different leasing options such as daily, weekly, or monthly payments. The costs can also be tailored based on the type of space and the length of the contract.
With coworking spaces, you will have the flexibility to scale employees up or down, when necessary, without the need to worry if you have the appropriate-sized office. Additionally, employees can transfer to different locations when needed. At the same time, employees can choose to work in workspaces near their own homes. The latter option is ideal for remote companies that want to provide their staff with the option to work in a workspace.
One of the most valuable benefits of a coworking space is the sense of companionship among the community members. Additionally, they can have the opportunity to network. Most coworking spaces have a cooperative environment wherein businesses can connect with potential partners, lawyers, freelancers, clients, and much more.
From a personal perspective, small companies in coworking offices can get the chance to have a social outlet besides their team. Here, they can observe how other businesses face operational challenges and growth. Whether they are having a conversation about their respective businesses over coffee in the kitchen, or they are having networking events in the space, coworking community members will have several opportunities to network.
In addition, nowadays, most of these shared-space operators would want to help small businesses in confronting their start-up challenges. For instance, in acquiring clients, services, and even investors.
Renting an office space can be very expensive. Additionally, you will have to furnish the rooms with furniture, pay for utilities, purchase office equipment, and possibly pay for the renovation costs. Coworking spaces provide you with a variety of shared amenities such as office equipment, large spaces for events, and others so you concentrate on your business. Usually, they come with an office starter pack that includes tables, desks, couches, kitchen spaces, printers, and Wi-Fi.
Several coworking spaces also have shared office management and reception team which can assist in the cleaning, maintenance, visitors, and deliveries. This means that coworking community members don’t have to worry about utility bills, janitorial services, decorations, or renovations.
Another important thing to consider is that if you rarely use the space, then you can choose to pay daily, weekly, or monthly rather than having a three-year contract. Costs for coworking spaces can vary depending on several factors such as the type of space and the length of the contract. For instance, if you are a freelancer, then you can either rent a dedicated desk to be used during business hours, a flexible desk to be used 24/7, or a shared desk to be used with one or more other coworkers.
What are the Benefits of Renting an Office Space?
If you choose to rent a private office space, then you will have the chance to customize the space to fit your specific needs. In other words, you can do your own construction, purchase, and arrange your furniture, put up some logos or banners or play music. In most cases, renting a private office means that you can have the space all by yourself. If you are subleasing, you might be working alongside other companies. However, subleasing usually allows you to have access to various private offices and office rooms rather than having just a few desks.
When you are in a coworking space, you might only have one desk to yourself, however, you will have to share printers, conference rooms, kitchens, and tables with the other tenants. On the other hand, when you rent a private office space, the entire space belongs to your company. In other words, you don’t have to worry if someone is moving your furniture, you can use the conference room anytime you want or clean the coffee mugs left in the sink.
Choosing a traditional office means that you set the rules, and choose the snacks and atmosphere. You can do whatever you want as long as it is fine with the building. For instance, you can host costume parties, make it dog-friendly, etc. The following are some of the advantages of renting traditional office space.
Enjoy Your Privacy
Privacy has been a growing concern for most companies. Privacy comes in different forms such as informational, physical, or sound. Companies renting traditional offices do not have to worry too much about privacy compared to those working in coworking spaces. Furthermore, if the company is dealing with sensitive information, private offices can use privacy enhancements which cannot be done in a shared work environment. For instance, you can install an extra-secure Wi-Fi network.
Most often, when you are just starting out in life, you enjoy couch surfing. However, as you mature and acquire some things, you might want to live in a stable, private home. It is much the same with a business. When startups grow and discover their identities, coworking space can be advantageous due to its flexibility. However, when your business becomes more established, you will be needing a stable office that you can call your company’s home. Once you get settled in your own office, you don’t have to worry about the arrangements, searching for new locations, and paying for the moving costs.
As we mentioned earlier, renting a private office is more expensive than a coworking space. Well, this is true in most cases. However, as your staff grows, you might find that it is more cost-effective to rent your own space.
If you choose to rent your own space, then you will get the chance to display your company logo above the door, in the street outside, or on the window. When you invite a prospective business partner or interview a potential employee, they will be entering an office that reflects your company.
Do you want your clients to feel comfortable and secure when they enter your office? You can easily do this by controlling the noise level, thermostat, events that are held there, creative decorations, the type of music, and so much more. Also, if you are renting your own space, then you can easily list your business on Google Maps. In this way, your customers can easily find you.
Keep in mind that the advantages and disadvantages of every space vary. If you prefer to rent a coworking space, then you can contact UOffice Executive Suites. You can assure that our workspaces can bring out the best in your business. For more information, you can call us at (832) 932-5165 or send us an email at firstname.lastname@example.org.