Business Tips » The 3 (Free) Perks of a Shared Office

The 3 (Free) Perks of a Shared Office

The 3 (Free) Perks of a Shared Office

Shared offices have become a popular choice for everyone from freelancers and “solopreneurs” to large national and international businesses looking to open short-term or satellite locations in new markets. While these alternative office environments have the obvious benefit – Class A space at a price smaller users can afford – they also come with a number of free perks tenants may not even think about when searching for office space.

These include:

1)    Access to networking events: It’s estimated that as many as 85 percent of job openings are unlisted, making networking events all the more important for today’s professionals. While that stat has a different meaning for entrepreneurs running their own companies – for them, networking events are an opportunity to fill, rather than find, open positions – it’s especially relevant for freelancers working on more of a project-to-project basis, usually from home or a shared office. For that reason, a number of office providers host monthly mixers, educational seminars and other social events that are available to tenants free of charge. Those who attend can learn about new business opportunities and find solutions to problems they may not have been able to solve on their own. They can also save hundreds of dollars over the course of a year by not having to attend as many outside functions that charge a registration fee.

2)    Faster leasing process: Finding the right office in the right location can take months, even with the help of an experienced broker. In some cases, that’s just the beginning. Negotiating a lease with a landlord can be an even bigger challenge, with both sides going back and forth on rent, tenant improvement allowances and other concessions. If a landlord agrees to pay for a build-out or reconfiguration of a space, additional time must be spent tailoring it to a company’s needs. While shared office users still need to spend time on their real estate search, having fewer options to choose from makes it a much quicker process. More importantly, when they finally settle on a location, they can move into their new space almost immediately. The time saved on the leasing process is particularly valuable to startups whose founders want to focus on growing and managing their business rather than hashing out the details of a lease.

3)    Greater flexibility: Businesses whose real estate needs fluctuate, either because they grow faster or slower than expected, or because they’re seasonal in nature, are sure to appreciate the flexibility a shared office provides. Most centers lease space on a monthly or annual basis, making it easy for tenants to scale up or down on short notice. Tenants also have more control over the type of environment they work in, whether it be their own office, a huddle room that can accommodate several people or a more casual lounge area. This allows them to experiment with different setups without having to pay for a redesign. If an open-office environment isn’t conducive to their business, they can simply move to a private office instead.