Whether you are an ambitious startup founder or an established entrepreneur, you acknowledge how hard it can be to keep your creation up and running. As you know, many companies deal with operational costs that can be particularly hard to cover. Rent and other monthly expenses make business management a daunting endeavour not apt for the faint of heart.
However, there are many solutions that you can apply to reduce overhead costs that inherently come with owning or running companies. One of them is using shared office spaces. “What are these?” You may wonder. Shared office spaces are offices that you can rent (or have rented if you are the owner of a spare room in your office) to use as a common space alongside fellow companies. Here we will list some of the pros and cons that come with shared office spaces for you to consider.
Pros of Shared Office Spaces
Scalability of Business
The first immediate benefit you can perceive from this kind of leasing option is the way in which allows you to scale your business. It is much easier for you to decide how many rooms you want, the amenities you desire to possess, and for how long you wish to rent the office space.
This makes for a better way of handling your business, as you can tailor the office to the company’s current needs for space, be it for its members or operational purposes.
Shared office spaces are an amazing way to keep your costs at bay without having to relinquish other expenses that can consequently harm your business.
Shared Office Spaces Are More Flexible
This sole element is directly responsible for business scalability opportunities by itself. When you rent shared office spaces, the possibilities are endless: you can customize your plan options, cost options, and space options.
In regards to plan options, you don’t necessarily need to lease the place for a whole year, as most contracts are established monthly. This means that if your business isn’t doing well for a given period, you don’t have to worry about being unable to deal with payment duties when running on a budget. You can rent the space for as much time as you need.
When addressing cost issues, this comes hand-in-hand with the plan options. If you are not renting the place for a whole year, costs will be reduced. And even if you do, most shared office spaces don’t demand deposits, upfront fees, or unplanned expenses that can jeopardize your business plan.
In reflection on the third item, this is the most tempting aspect of shared office spaces. Space options are numerous, as you can either size up or size down depending on your company’s needs. If you require to allocate more staff in the facility, you can easily hire another office space to make the headquarters larger. Otherwise, if you and your institution call for smaller working spaces, you can cut down on unneeded space as well. You decide how big you want to go.
Shared Office Spaces Have Amenities
When you rent an office, in general, this is not the end of the road. Oftentimes you must buy furniture and pay for other costly features like telecom set-up costs and parking space rental, which adds up to the expenses that could easily be avoided if you rent a shared office space.
In general terms, shared office spaces are already furnished and come with Wi-Fi and functioning telephone lines, which means that you can also avoid all of the headaches that entail hiring these services for the first time. Besides, other pesky operational and administrative issues are handled by the owners of the shared office spaces. All you have to do is show up, pay, and get to work.
Some of the items you can find in shared office spaces are the following:
- Fast, functional Wi-Fi connection
- Food and beverage dispensers
- Customer support
- Mail distribution
- Private places and meeting rooms
Shared Office Spaces Are Good Places for Networking and Education
A bonus that often goes overlooked is the chance of being able to network with fellow colleagues. These interactions are good opportunities for meeting people and getting insights that can potentially help you expand or improve your business. You never know where you may find your next big break!
Education is a big plus that comes along with shared office spaces. These facilities usually host events that cater to people on the lookout to expand their knowledge: programming, practical workshops, talks. You name it. Education is at the doorstep of shared office spaces!
Cons of Shared Office Spaces
Even though there are very clear advantages to sharing office spaces, there are also downsides you need to weigh in before thinking of them as a viable outcome for office leasing:
Your Neighbors Can Be Competitors
Given that the startup realm is quite a ferocious one, competitors are always trying to have the edge over their counterparts. Hence, you need to be particularly wary about corporate espionage. You can’t really control who is in the office, as many workspaces are shared with them.
However, there are some measures you can grab ahold of to avoid inconveniences: for example, keeping secrecy while holding meetings is a good resource to avoid wandering eyes when unwanted. Always have important business meetings behind closed doors at conference rooms of your choice.
Shared Office Spaces Can Be Distracting Places
As though there are quite some advantages to sharing common places with other companies, you may find that one of the main issues is that each works at their own pace. While some are busy, some others are on a break. You may be forced to mingle with co-workers, which can hinder your results if you are not focused enough.
Are Shared Office Spaces for You?
Here we have demonstrated the different pros and cons you can encounter when renting shared office spaces. On one hand, you can enjoy a broad gamut of pricing and spacing options that enable you to scale your business more efficiently, as well as networking and gain important skills.
If you opt for shared Office Spaces in Calgary, Astra Business Centre has your back. These are some of the features we have for you:
- Surveilled 24-hour access
- Fully furnished rooms
- Cleaning services on a weekly basis
- High-speed Internet
- Monthly plans
- Mail reception and handling
- Common kitchen area
For more information, visit us at https://astrayyc.ca/ for pricing, plans, and bonus features.