Benefits Of Having Shared Office Spaces When Running A Business
When running a business, the overhead costs can pile up into a hefty amount. While spacious offices provide more room for your employees to move, the rental cost can be expensive. That’s why shared office spaces make a great solution.
Shared offices are also called coworking spaces, wherein individuals from different businesses or multiple companies can engage in work. Shared office space consists of shared desks, open-plan spaces, meeting rooms, and telecommunication facilities. Usually, these offices are temporarily rented out by startup entrepreneurs, small teams currently working on a project, online professionals, and small-sized and medium-sized enterprises or SMEs.
In this post, you’ll learn the benefits of shared office spaces when you’re running a business.
Flexible Workplace Option
Whether you’re a freelancer who wants a physical business address, a creative individual who wants a startup studio, or a new entrepreneur who wants to succeed in business, choosing a flexible workplace option that is cost-effective at the same time is a good idea. If you want a prime location for your business without spending too much on office rental, a shared office space makes an effective workplace option.
Here are the good reasons why shared offices are flexible workplaces:
- Flexible Design: When designing shared office spaces, builders and designers ensure that all amenities needed for operating a business are complete. Flexibility is enhanced with well-designed areas for desks, printing and photocopying areas, receiving sections, and telecommunications devices, like working landline and advanced business phones.
- Buy More Seats: A shared office is flexible because you can rent out seats if you’re just starting your business. You’ll save money on space, and will also allow you to buy more seats when you need to expand.
- Flexibility Of Leasing: Shared office spaces are usually offered in different packages to suit specific business needs, schedule, and budget. Lease agreements can be month-to-month or long-term, which is a great advantage over private leases.
While shared offices allow individuals or groups from different organizations to work closely together, they get a chance to connect and collaborate, most especially if they are in the same field. Your business can also benefit from such networking opportunities, like social media marketing.
Also, shared office spaces foster collaboration by:
- Sharing Knowledge: Employees and employers get a chance to share their knowledge and expertise as friendship grows in shared offices.
- Creating Partnerships: Two or more businesses with common interests and goals can create partnerships to make businesses thrive and stronger.
- Establishing New Leads: Potential leads are discovered through shared knowledge and partnerships.
- Getting Referrals: One of the best benefits of shared office spaces is getting referrals from credible business sources.
Access To Modern Office Resources
Shared office spaces will never be left behind in terms of state-of-the-art amenities because property owners aim to always be on top. Also, some shared office spaces provide mentoring opportunities and valuable resources to help members.
With top-of-the-line IT infrastructure, you’ll be able to better serve your clients, providing the utmost convenience and comfort. Of course, strict security is prioritized, so your customers feel safe doing business transactions with you.
Additional resources and amenities that shared office spaces provide include the following:
- Fast Internet access
- Access to conference rooms
- Printer, scanner, and copier capabilities
- USPS mailing address
- Conference room
- Local and long-distance phones
- Reception area
- Free parking
Benefit From Accessibility And Prime Location
Shared office spaces are usually located in central business districts, carefully planned and designed to ensure easy accessibility from community amenities and walk-in customers, thereby promoting co-working at a higher level. Having a physical business address in a prime location will improve customer experience, making people more confident to do business with you.
Cost-effective Business Operations
Running a business entails a lot of expenses. And, if you’re renting a big office or a building, your money might just get drained from rental fees and utility bills. Because of business population growth, real estate property owners have thought of designing shared office spaces to help small business owners and startup entrepreneurs reduce costs in renting bigger offices.
Here are the financial aspects wherein you can save money when renting a shared office:
- Save on high electricity and utility bills because things are also shared.
- Save money hiring your own receptionist, security guard, and IT personnel.
- You don’t have to worry about paying a hefty amount of money on equipment repairs and replacements.
Aside from the ones mentioned above, shared office spaces have a lot of benefits for budding entrepreneurs, startups, and small business owners. With a shared office space, you’ll benefit from its flexibility, business opportunities, access to modern office facilities, and prime location. Of course, your target clients and investors will be more confident to entrust their business with you because you have a physical office address, which reflects greater business legitimacy and credibility.