The main question on your mind whether you are a startup or small business owner, an entrepreneur or a freelancer, is where to set up your business. Once your business starts growing and more people come on board, you might begin scouting for a new workplace. The main decision you have to make is picking between coworking offices or serviced offices.
What is the difference between coworking spaces and serviced office?
Coworking spaces as well as serviced offices, both allow you to move into a physical space instead of working remotely. They help you build a solid base for your business to operate from with its several benefits. The best part is that both options come without all the pitfalls that traditional leasehold brings along with it.
Let’s take a look at the benefits and downfalls of serviced offices as well as coworking spaces. ’It’s important to weigh each option and make an informed decision. Your business must be compatible with the workspace you decide to choose. So understanding and gaining knowledge of both platforms is a crucial first step.
What is a serviced office space?
An office space rented out by a facilities management company is referred to as a serviced office. You might have come across a serviced office under different names. They are also known as executive offices, managed offices or business centres. These spaces usually house corporate organisations along with several small to medium-sized businesses. The amount of space you choose to rent is flexible. You can rent something as small as a private office, or an executive office suite, or lease an area as large as an entire floor or several floors in the building. While traditional offices provide you with a vacant space, serviced offices come well furnished. They are updated to fulfil all the needs of your business and are ready for you to move in.
What do serviced offices provide?
Serviced offices provide a number of amenities. Utilities like phone and the internet are usually included in your lease. They have in-house reception services and administrative staff you could easily hire along with space. Conference rooms and communal spaces that you do not use frequently or all day can be rented by the hour. The maintenance and cleaning services are already provided, along with security and mail services. You can use the office equipment they provide like copiers and fax, which might be shared between tenants.
You need to enquire about the specifics of the services they offer as there might be slight variations. It is crucial to analyse the services included in the leases of various serviced offices when you’re scouting for the right place that fits your business.
What is coworking?
Coworking is a relatively new type of office space available for rent that takes a different path from traditional offices. Freelancers, entrepreneurs, owners of a startup or a small to medium-sized business, all can find their fit in a coworking space. The variety of options available for renting coworking space includes the following:
- Private offices are available for an individual or an entire team
- You could rent a specific number of desks for you or your group
- If you’re looking for a place for one individual, a single desk on an open floor plan might be precisely what you’re looking for.
The services provided by coworking spaces include specific desks or offices along with open desks. You can book meeting rooms and board rooms for any amount of time you might need them for. You can use shared spaces like lounges, kitchen and recreational spaces, among others. If you have an event coming up, there are spaces available you can conduct them in. There are managers readily available in case you have problems of any kind. Need assistance with troubleshooting problems, coworking spaces have got you covered.
You can also get access to work essentials like the internet, fax, printing, etc. Reception services are also included in many coworking spaces.
Advantages and Disadvantages
Pros of Serviced offices
Cons of serviced office space
The varied benefits of serviced office spaces include lower costing rentals and leases that are short term compared to traditional offices. They have spaces for renting in some of the best locations in the prime areas of the city. The setup is effortless and convenient. They provide administrative support and building maintenance. You also have private space available for conducting meetings and talking to clients.
The serviced offices could have a generic look which some clients could find unattractive. You might not have ultimate control of the shared areas that include meeting rooms and kitchen. So it could include adjusting to the needs of the people you share the space with.
Pros of coworking spaces
Cons of coworking space
The reason coworking spaces are such a hit with startups and entrepreneurs is the flexibility it affords ’it’s tenants. You are welcome to come and go according to your convenience. Some options allow you to rent spaces at minimum costs, which makes for a much less risky option. The areas are usually designed in such a way to help collaboration and social interaction, which allows creativity to blossom.
Certain disadvantages come along with coworking spaces like the blatant lack of privacy. It can be especially tricky if your business includes dealing with clients, which entails a sense of confidentiality. There could be a competition to use shared spaces like meeting rooms and kitchen as well as break rooms. This can cause friction among the tenants and be a huge pain to deal with. You cannot alter the layout of your workspace or the decor for that matter. You have to make do with what you are offered.
Going through the pros and cons might have given you a better idea of which office rental space might be better suited for the unique needs of your business. Deciding to move into a new area can be daunting and overwhelming. It ’doesn’t have to be so. You, along with your team, could research various options available in the market. The variety of business types could easily lead you to find the best fit.
