Traditional Office Rentals vs Flexible Coworking and Shared Office Space

Office Spaces

What exactly constitutes the perfect office space? Every business is different, and finding a “home” for your unique organization is not exactly an easy feat.

With so many factors to consider, like location, size, amenities, style, and price to name a few, combined with the fact that businesses are ever-changing and growing; how can you ensure that your office will evolve and adapt just as quickly as you do?

Research shows that customers are almost always more likely to consider a business trustworthy and credible when it has a physical location or address attached to its name. It makes sense too; think about scheduling a prospective client pitch in a noisy coffee shop or your living room…not exactly emulating business stability and professionalism. This presents a common issue for businesses able to largely operate virtually, and the digital age we are living in has brought a huge up rise in remote offices. An office space however, delivers a sense of reliability, which cannot typically be achieved by businesses operating from their homes or coffee shops.

But conventional offices tend to be expensive, in New York for example, a small 2 person unfurnished office in a reputable location starts at around $2,000 a month. Yikes. Understandably, and more often than not, it is therefore simply too out of budget for startups and entrepreneurs just launching their big idea to land a space that positively reflects the company and its innovation from the inside. What’s more discouraging? Real estate projections only predict commercial property leases to be increasing in price. For this reason, many startups settle for an office space that may not be in the best neighborhood or feature the nicest interior.

For argument’s sake, say you are lucky enough to land a decent office space in a nice part of Long Island, just big enough to accommodate the current stage of your business, and just expensive enough to make it work with the budget. What happens when you, as most businesses (hopefully) do, grow? It’s time to bring in more talent, more physical resources, and more meeting rooms to accommodate that growing client base. But the building you are in has no more room available. Now brace yourself for a big move to a bigger building, the headache of an address change, designing a whole new space to accurately reflect your business philosophy, not to mention the cost of moving. Or, what if (business Gods forbid), business fails and now you have the overhead of a conventional lease for years to come? (Stress-management workshop, anyone?) 

So is there an alternative?

Companies are discovering a third, option between conventional offices for rent and virtual address packages. Coworking spaces are not only the perfect compromise with regard to cost and a physical location, but they are essentially the only option for ensuring flexibility not to mention all-inclusive

Coworking spaces can cost as low as $45/month, which gives access to a conference room or workspace for the day. If you are looking for a full-time space to work, the cost is still cheaper than your typical office ranging from $300/month-$450/month. If you need a dedicated private office in a coworking or shared space, prices range from $750/month-$2000/month on average.

These trendy, up-and-coming office spaces specialize in adaptability. Offices are fully furnished, 24/7 accessible, and rentable by the day, week or month. From private single person offices and large spaces for up to six people, and even bigger conference rooms. Alongside your office, all membership options give businesses full access to work in open lounges, meeting rooms, cafés, entertainment rooms. All utilities, like printers, amenities, and state-of-the-art technologies are included in a simple monthly rate, which can always be altered or expanded parallel with your unique business needs.

After all, an office space should be just as flexible as your business.



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