Ins and Outs of a Shared Office

Small businesses can take lots of time to build; many of those will be in your office. Your office is your headquarters, your communications hub with clients, and much more. It is a major business decision to figure out where it will be and what it will be like.

There are many cost-effective office alternatives to the traditional type out there; one is the shared office space. It works well for start-up companies, entrepreneurs, small branch offices that don’t need large offices, and other types of companies as well.

These types of offices help to keep a start-up company with a tight budget from having a large overhead expense that they could be using for something else. If you are hesitant about getting a shared office space, stop and think if your budget can afford the large costs associated with traditional office rental.

Shared office leases are also shorter than regular or traditional office leases. Shared office leases go from 3 to 6 months to up to a year. The arrangements depend on the lessee and lesser and what is needed by your company.

When you are in a shared office you may be provided with mail, telephone, and internet services, in addition to administrative staff. These types of arrangements also usually provide access to business equipment such as: copiers, fax machines, and office furniture.

Shared office spaces often have conference and meeting rooms available for your use as well as a common break room for you and your employees. There may also be personalized answering services, publishing services, notary services, and concierge services on site.

These types of office arrangements are usually much lower in rent than traditional office style rents. You will also have an advantage with using this type of arrangement in that it reduces the need for support staff and amenities are usually included.

If you are going to look into choosing a shared office space , then you should make sure to research your options and take these items into account:

Location– location is always important to a business

Contract- Go over the contract terms carefully and if need be have a lawyer look at them

Amenities- What amenities or services are included with your shared office space?

Tenants– Who are your office space partners; considering inquiring about the other tenant types to see if they could be assets to your network