Sharing office space can be frightening – after all, you’re not in complete control of the area, and that means you may not be able to capitalize on all of your needs. However, shared space is an increasingly popular option throughout the entire Chicago loop, especially for smaller businesses that want the benefits of a larger location without the costs or the troubles. Here’s how the process works and what benefits you can expect to receive from utilizing shared office space in the Chicago Loop.

The Genius of Shared Space

Sharing office space is a great way to form business connections and reduce the troubles of maintaining a full workplace. After all, someone else is responsible for ensuring that the office is clean and orderly – you even get to complain to someone else if things aren’t going the way you want!

In all seriousness though, managing your space can be a headache at best, so you shouldn’t take on that burden until you really need to. Imagine simply being able to use conference rooms, HD display boards, and enjoy a great view anytime you want – no fees, no problems.

Shared spaces may also include elements like phones, printers, and coffee in a cafe or lounge custom made for network opportunities – and if you’re particularly savvy, you can share the space with another company or two that can support your own efforts. Small insurance offices, for example, might be very interested in having an insurance-focused lawyer literally two doors down from where they’re meeting with clients.

Like renting an apartment, shared spaces are ideal when you have a tighter budget – most of the benefits of a larger area without any of the hassles. Providers even exist that allow you to customize your workplace. Common areas, however, the landlord will be in control of providing a solution and design that works for everyone.

Keeping Growth in Mind

Office space providers can help you select a shared space location that will keep your growth in mind – including the ease of canceling your lease once you’ve grown to a point where moving out on your own makes good sense. Let’s be honest, here: If you do plan to grow as a company, then shared space may not be your end game, but could prove to be the right start. A provider can sit down and help you understand your options, placing your needs at the forefront of your plans for the future.

For example, signing a traditional lease where you’d barely be able to fit your current employees into one space, will only mean trouble as soon as you start expanding. On the other hand, taking on more than you need could find yourself facing much higher rates – and a feeling of loneliness – until your growth happens. Utilizing shared space allows you flexibility to sign up and pay for only what you need and change as you grow.

The key thing to keep in mind is this: Every company is different. Don’t ask about what’s worked for other companies in terms of style, space, and the arrangement of the office, because those companies had different needs and faced different challenges. This is one of the few times when it’s best to focus solely on your own needs – after all, your productivity depends on it. As a general rule of thumb, though, it’s best to have a little more space than you need – conference rooms can be reserved as needed, a desk can be left empty, and there should be no need to pack employees into small areas.

Finding Shared Space

The best providers will put your needs ahead of their own – after all, their reputation depends on their ability to help you find a location that truly matches your requirements, and your good word could be very valuable in the years to come. There are usually plenty of shared space locations throughout the Chicago loop, but only a few of these areas will actually meet your needs. Don’t push yourself into an office that’s only going to slow you down, even if it means spending another week or two going to new locations. With so many options, be sure to think of transportation options to your new space, the image and amenities of the space and building and the staff and reputation of the provider.

Finally, try to plan ahead. You’re in luck if you don’t currently lease office space, because there are no leases to terminate – but the search can take some time. Be sure to signal your interest in a location as soon as you can. Spaces that are ready to move in can go overnight making one of the strengths of this type of space, (move in ready), your worst enemy!

Finding shared space is a challenge, but you don’t have to look alone – it’s more efficient, in terms of both searching for the location and your long-term success, to get professional help.

Image credit: A Health Blog