Business owners, freelancers, artists, it’s time to get out of your home or boring office.
New office options that can save you thousands and add value to your business
The days of being forced to either lease an entire office space or work from home are over. Today there are so many options to choose from it can be difficult to decipher what they all mean. But, if you’re willing to explore all of the available options you can save yourself both time and money, as well as gain additional value from your office, that you may not even realize is possible.
With so many terms floating around the office space it can be difficult to know the difference between “Hot Desks”, “Shared Office Space”, and “Co-Working Space” and that difference can define the right or wrong type of space for your business and create the necessary environment for productivity.
Let us be clear, with so many terms being used in the industry and so many office providers marketing their space in different ways, not everyone is going to have the same definition for each. Below we provide the most common definitions of some popular office space options.
Types of office space
Co-working - the use of an office or other working environment by people who are self-employed or working for different employers, typically so as to share equipment, services, ideas, and knowledge.
Shared office Space - Much like Co-working, in terms of sharing an office or working environment, but typical does not include shared services, ideas, and knowledge.
Private Office - An enclosed work space for one person, suitable for activities which are confidential, demand a lot of concentration, or include many small meetings
Private Suite - a collection of private offices, open areas, and possibly other spaces (meeting rooms, kitchens, reception, etc), that is private to one organization.
Shared Suite - similar to Private Suite, but shared by multiple organizations.
Hot Desk - involves multiple workers using a single physical work-station or surface during different time periods.
Sublease - The renting of property/premises by a tenant to a third party for a portion of the tenant's existing lease contract. This can provide the sublessee the option to lease an already built out space for a shorter term than may be available elsewhere in the market. It also may provide the tenant who signs the master lease and option to parlay some of the rent payments still due on the remaining term of their lease if they choose to move out of the space early.
Meeting Rooms - Space, possibly within any of the above spaces, where teams can assemble to collaborate.
Training Rooms - Similar to Meeting Rooms, but often larger and arranged more like a classroom.
Cyber Office - This is not a physical space, but services that typically come along with a physical space, such as a mailing address, mailbox, and answering/phone services.
Remote Office - This is a term used to describe any space that is located outside of a business's main offices. Some businesses choose to allow employees to work in Remote Offices of their choosing on either a part or full time basis. Others have chosen to rely on Remote Offices for all their employees.
Coffee Shops - While not a typical office space solution, many freelancers and remote workers rely on Coffee Shops for a place to work outside of their house. This may be optimal for some who only need space part time or in many different locations, and want to avoid additional expense. The main drawback is that common office services such as printing may not be available and the internet may not be reliable.
Now that you have an idea of the different office space options available, it is your job to decide which one, or combination, of the options is best suited for your business. Many businesses decide to use multiple options or even give their employees the option of choosing for themselves which solution works best for them.
Venture Office specializes in providing and leasing flexible office space solutions. If you have any questions when contemplating which direction to go for your business, or if you’d like to discuss what options are available in your area, click here to speak with one of our experienced specialists. We look forward to working with you!