Shared office spaces, often known as “coworking spaces,” are growing in popularity among entrepreneurs, small business owners, and freelancers. Individuals and businesses may work, communicate, and network in these professional settings. These offices are cost-effective and provide networking opportunities for individuals working independently.
Shared office space is a completely new concept in the office world that is completely different from conventional offices. It attracts more Gen-Z workers and millennials to work because the aesthetically designed interior and facilities compel them to come and work.
Advantages of a Shared Office Space
Coworking space is important in the freelance and start-up ecosystems. Individuals experience a sense of lethargy in their familiar environments and are no longer interested in the conventional corporate culture within their workplace. Here are some of the benefits of shared office space:
Cost-effective
Shared office spaces are often more cost-effective than leasing a traditional office, and the cost of furniture, interior design, and maintenance is reduced. This is because the cost is shared among multiple users, and the amenities and services offered are typically included in the price.
Flexibility
Shared office spaces offer flexible lease terms, which allow users to rent the space monthly or as per their needs. Th0is is ideal for freelancers, startups, or businesses that are just starting out or for those that have fluctuating needs. So it’s best for those who need flexibility and do not prove to be a financial constraint.
Networking Opportunities
Shared office spaces bring together a diverse group of people and businesses in one place, which can provide opportunities to network and collaborate. This can lead to engagement with like-minded people and result in new partnerships, clients, business opportunities, and no limit to growth.
Amenities and Services
Shared office spaces often come equipped with a variety of world-class amenities, such as meeting or conference rooms, break rooms, calling booths, power backup recreational spaces, printing facilities, high-speed internet, and kitchen facilities. These amenities are often included in the rental price and are available for use by all members. And with shared resources, the overall cost can be divided, and everyone can enjoy the benefits.
Professional Environment
Shared office spaces offer a professional environment to work in, which can be beneficial for businesses that may not have the resources to create a professional setting. That place can catalyse new ideas, innovation, and growth in the right environment.
Productivity
Shared office spaces are designed to be conducive to productivity, with ergonomic furniture, natural light, a supportive community, and amenities. This can help businesses be more efficient and productive. Being surrounded by like-minded people helps increase creativity and productivity.
Access to Events and Resources
Many shared office spaces host events and provide resources such as training, workshops, and networking events that can help businesses grow and thrive.
Factors to Consider When Looking for a Shared Office Space
Here are a few things to consider before leasing a shared coworking space:
- Determine Your Need: Before considering the lease, critically examine your need to lease out a space to work. Can you be productive at home, or do you need the working environment for productivity?
- Review: While looking for the space, review the space on various platforms before considering it. Look for the revised or written review.
- Test the Space: Some open office spaces offer a free workspace trial. Don’t pass up the opportunity to conduct trials to see if it works.
- Meet the Community: As important as the workspace is, the type of people working there is equally important. Interact with the people in the office and get their first-hand reviews for a better picture.
- Amenities Available: Amenities such as printing, recreational space, a kitchen, power backup, calling booths, and a conference room are some of the ones to check before consideration.
- Think Scalability: Consider the scalability of the place, with your business growing over time. So consider the elasticity of the place to convert it into a private cabin or office according to need.
- Schedule a Visit: After conducting extensive research and review checking, plan a visit to the location to gain clarity of thought.
- Contract: Before signing up for the contract, make sure to go through the terms and conditions, especially for cancellation.
FAQs
Q1. What is a coworking space?
The use of shared office space by multiple people at the same or different times is known as “coworking.” These spaces are specially built to provide flexibility to small businesses, startups, and freelancers. They also provide amenities such as printing, high-speed internet, a kitchen, a recreational room, a conference room, and calling booths.
Q2. Who can use a coworking space?
Coworking space is ideal for startups, small businesses, freelancers, and remote workers who are looking for office space with minimum financial constraints.
Q3. How much does it cost to use a coworking space?
The price of a shared office varies depending on the location, amenities, and size of the rented space. Generally, coworking space is far more affordable than a conventional office setup, as the cost of the amenities is distributed among multiple people.
Q4: Are coworking spaces only for full-time use?
No! Coworking spaces are available for both full-time and part-time employees. It all depends on who is using the place.
Q5. Can I bring my equipment to a coworking space?
Yes! You can bring your equipment to work. Many of the shared offices have designated places for equipment to be used.
Q6. What kind of amenities are provided in a shared workspace?
The amenities provided vary by location, but commonly provided amenities include recreational space, a meeting or conference room, printing, high-speed internet, tea and coffee, and storage facilities.
Conclusion
Shared office space is a rented space for small businesses, freelancers, or remote employees that multiple people use simultaneously. The shared office offers amenities and resources that can help businesses be more productive, and that too in a cost-effective, flexible, and professional environment. It is a new office workplace trend that is attracting a lot of young minds.
