Business

5 Things To Consider About Coworking Spaces Before You Begin Renting Private Office Space

While coworking is a very popular solution to combatting workspace problems, there are compelling issues against it. For one, if you are not used to sharing office space, it is easy to get distracted in space where professionals are constantly socially interacting with one another. Then, etiquette problems some have mastered and others still struggle with, namely talking loudly, screen spying, eating in the workspaces, in addition, a number of peccadillos, are disadvantages.

On first thought, one might be tempted to flee to the confines of private office space. However, coworking has a number of benefits, benefits that negate many of its flaws. For one, it has to be the best value for its dollar in office space. For example, take a look at Servcorp Coworking Space America at http://www.servcorp.com/en/coworking/ to see the many amenities you get when you join this space. As you can see, coworking can potentially be very attractive to businesses.

Let’s take a look at some factors that should be taken into consideration before signing that private office lease.

 

Lease Flexibility

 

When looking at an office lease, consider flexibility. Your standard private office outside of a serviced office plan can be quite expensive and protracted. After paying on the initial costs and deposits related to leasing the space, businesses still have to set up utilities, cable, and phone service on top of staffing the space. Then, on a monthly basis, if your lease is not inclusive, then your bills will fluctuate, making it more difficult to budget.

The coworking lease is extremely flexible and is usually short-term with some being month-to-month. Most plans come with a list of amenities that cover most of the necessities of the office. In short, the coworking space is a much more cost-effective way to lease space for smaller businesses.

 

Cash Flow

 

For struggling businesses, a private office might give your business a professional image, but it can definitely tie up your resources. With most of your earnings and additional funding going to pay for overhead, you do not have enough to save or even reinvest in the business. Alternatively, your coworking space can save your business money, which frees you up to do a number of things for the venture.

Ability To Transition Growth

 

Another great feature of the coworking space is that it is one of the easiest ways to transition a growing business. With a really good plan, your coworking space can be scaled up or down to accommodate the needs of your business, something you might not get with a private office. In fact, because many leases ask businesses to commit to, at a minimum, a year, a business might find itself in a tight place if business slows down for any reason. Then, the business faces having to break a lease, which will create extra costs.

Space Versatility

 

The coworking space allows businesses to use it in a number of ways. Coworking spaces are places to work, network, and collaborate with others, in addition to being a community where relationships can be formed. All of this, furthermore, can be done within the space without interrupting the flow of business. The private office, depending on where it is at, has limitations, especially if it is a part of a larger shared floor.

Access To People And Relationships

 

Without walls, people roam in and out of the work area with ease. The coworking space provides business with open space to explore and meet others. The private office, alternatively, limits access to people in the workspace just by virtue of its walls.

Coworking Space Versus Private Office

 

The coworking space has a number of benefits, as does the private office. Depending on the purpose of the space, both could adequately serve as office space. However, with the coworking space, you get the benefit of the built-in camaraderie that is a part of building relationships.