Benefits of Shared Office Space

Whether you’re an established freelancer, an entrepreneur looking for your first office space, or a member of a distributed team that needs some work space you might be surprised by the benefits a shared office space can provide.  Co-working spaces can offer the flexibility necessary to benefit a wide range of businesses and the ability to adapt as businesses grow and change. 

First time lessees and sole proprietors can feel intimidated by long lease terms or the initial overhead involved in setting up a traditional office. Becoming a member of a co-working space can provide the flexibility needed by allowing you to switch between hot desks, private offices, and private suites as your needs change all within a flexible membership that doesn’t tie you to a particular space for years if it no longer works for you. 

Co-working spaces eliminate many barriers to office space access that you may experience. That means in addition to a month to month membership, rather than a lease term of several years, much of the overhead costs of set-up are already taken care of: the space has already been built out to suit office users, fully furnished, utilities are set-up, and telecommunication networks have been established. Even though you may occupy a single desk you can still have access to all the amenities offered to the co-working tenants, many of which you may not have been able to include in your space if you had pursued leasing a traditional office space. Conference rooms, learning spaces, kitchens, and event spaces are used only occasionally, but must be paid for monthly in a traditional lease, however in a co-working space you are able to have access to these spaces and pay for them only when you really need them. 

Having the right space for the right task helps ensure you get the most out of your working hours. While the flexibility to work from home has been a great benefit for entrepreneurs and employees alike, for many people, working from home may not be the ideal environment. Living and working in the same space can create pressure to work a greater number of hours and cause an unhealthy work/life balance, as well as create a sense of isolation. Utilizing a neighborhood co-working space can help define the work and home areas of your life and provide a space for work that is free from distractions, while also providing a sense of community. 

One of the biggest benefits to joining a co-working space is the other people you’ll interact with while working there. Networking and referral opportunities between businesses occupying the same co-working space can be a huge bonus for both companies. The collaboration with your co-working coworkers can also be a great place to work through problems that perhaps other entrepreneurs have already solved in their company, create emotional support as organizations grow and change, and help foster positive peer pressure as you build your business.  

Perhaps the greatest benefit to a co-working space is: if you think it may work for you, give it a try - utilize everything it has to offer and if it doesn’t suit your business, take advantage of all the flexibility it offers and make a change.  Many co-working spaces, like Venture Office, even offer a free month membership to give you the opportunity to see if it’s the right fit. Click here to learn more about, schedule a tour, and get your free month membership at Venture Office.

Venture Office is here to provide the tools and guidance you need to find the ideal office space for your business. If you would like to learn more about the tools we provide, and our ideal space guarantee, then click here to speak with one of our experienced specialists. We look forward to hearing from you!

What Type of Office Space Does Your Business Need?

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.    

1. Types of office space

   1. 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.

   2. 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.

   3. 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

   4. Private Suite - a collection of private offices, open areas, and possibly other spaces (meeting rooms, kitchens, reception, etc), that is private to one organization.

   5. Shared Suite - similar to Private Suite, but shared by multiple organizations.

   6. Hot Desk - involves multiple workers using a single physical work-station or surface during different time periods.

   7. 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.

   8. Meeting Rooms - Space, possibly within any of the above spaces, where teams can assemble to collaborate. 

   9. Training Rooms - Similar to Meeting Rooms, but often larger and arranged more like a classroom.

   10. 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.

   11. 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.

   12. 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!