What Is A Traditional Work Space?
People have more choices than ever in the rental office market today when it comes to finding a home for their company. Along with more choices, businesses are becoming more aware of all sizes of alternative ways of occupying office space. Also, major corporations such as Amazon and Google are diverting some of their offices to the flexible workspace from conventional rented buildings. This has resulted in a rise in demands for 10-plus desks that now account for nearly one-fifth of the overall demand on the office market.
Coworking vs. traditional office space – weighing the pros and cons
Making decisions about office space isn't an easy task for start-ups and established businesses alike. There are too many ways to consider and weighing factors. Before you start your quest for the home base of your company, it is important to decide what you're looking for: Should you go for a coworking space or a traditional office? Let's consider every one of the top merits – and disadvantages.
Coworking is not just a community workplace with ping pong tables, bean bag chairs and an endless supply of snacks, in comparison to what some people might sometimes believe. Rather, it is now a paragliding term used to describe a versatile work environment, whether it is a separate desk in a public room or a private serviced office situated inside a community office.
One of the most important benefits of coworking is its flexibility as compared to traditional offices.
You don't have to agree to a long-term lease and your fee usually includes all – including electricity, telephone line, email, postal service and reception. Flexible lease options include a less restrictive type of tenure such as the right to use space on a short-term basis and to increase or shrink the requirements for physical space as required. Long-term leases may also be negotiated by larger corporations or existing customers – offering the perfect balance between flexibility and cost-effectiveness. In short, when it comes to lease and space requirements, coworking (ironically) can theoretically provide a more tailor-made solution.
- Move-in ready
You can immediately occupy your fully fitted room. It comes with furniture, internet and telephone connections, plus a variety of amenities and meeting space arrangements on request.
- Chances to network and collaborate
Shared spaces mean that you have a chance to join forces with people with complementary skills and/or people who need your skills.
- It may not be your space alone
Coworking sites are usually filled with a wide range of clients, from startups to multinationals. That means no single client can brand the coworking space. Although most coworking facilities are shared, however, it is increasingly probable that one company will occupy the entire premises. Such "enterprise tenant" agreements allow businesses to enjoy the many benefits of coworking without compromising their brand and culture of self-sufficiency and unique business.
- More expensive than working from home:
Nothing beats the cost-effectiveness of home-work for the solopreneur or small business. It might cost more to move to a coworking place, but you'll also be much more successful!
It's your own space when you lease or purchase a traditional office, to be used exclusively for your business. Usually, if you are renting the premises, you have to agree to a fixed period of five years and enter into a contract with the property owner. This is your duty to develop and furnish the offices, too.
- Branding and corporate culture
The office as a whole is yours, and should represent your brand and corporate culture. You can build the room to suit the company's specific needs and values.
It may be easier to schedule private meetings because you are not sharing the space. You would also have greater overall control over the distribution of allocated Privacy Areas.
- Less flexibility
Leasing a traditional office usually represents a long-term commitment.
- Upfront costs
You'll need to furnish and equip your space when you lease a traditional office. This could also include costly investments such as building up amenities and meeting rooms.
The need for dedicated office management: You’ll have to take on the task of managing the office.
- Fewer opportunities to network and collaborate
You have less opportunity to communicate with people from other businesses or sectors.
After thinking about such pros and cons, keep taking a step back and looking at the big picture. Make sure your chosen physical space represents the picture you want to create for your clients, future employees and partners, and the type of company you 're in.
Are You Ready to Find Your New Flexible Workspace?
Victory Workspace has been serving professionals in the Walnut Creek, California area for over ten years, and even after the Covid 19 Shelter in Place is over we will be here for you. We offer a large variety of Flexible Workspaces, short term office rentals, meeting rooms and a welcoming event space with plenty of free parking for you or your guests. All that while providing our clients with daily opportunities to network - in-person and online - with other business-minded professionals just like you! To learn more, set up your free tour or inquire about which one of our services might be right for you, reach out to one of our amazing Community Guides at Victory Workspace for more information.