Traditional vs. Shared Office Space

One of the most important business decisions you make is what type of space to call “home.” It impacts costs, of course, as well as functionality, flexibility, and – it must be said – your image as a business. That said, you don’t need to limit yourself to the typical setup. Non traditional office space may be a more viable solution for your needs. 

Traditional vs. Non Traditional Office Space

What is a non traditional office space? It could be a virtual office, renting office and/or conference space as needed, or a shared work space solution. In a shared workplace, you have the opportunity to collaborate with peers and feed off the energy that creative minds bring to the table. 

There are, of course, other practical matters to consider, such as:

• Length of Commitment. A typical corporate lease may extend from five to ten years. If you’re testing the waters in a new area, a new company with a limited budget, or plan to relocate sooner, this is just not feasible. A shared work space commitment on the other hand, can be month-to-month.
• Furniture.  Your workplace will need everything from desks and chairs to phones and copiers (depending on your specific needs). You’ll need to purchase or lease this in a traditional office, whereas a shared space comes with all the essentials included.
• Infrastructure. The shared work space will also offer established parking, utility contracts (included in your membership fees), receptionists, custodial staff, maintenance staff, and more. You don’t need to cover the overhead.
• Flexibility. In a traditional office, you get what you pay for. If you have one conference room, two offices, and an open “bullpen,” that’s what you have. What if you need to make a presentation and the conference is booked? What if you’re on an important call but you can’t close a door for quiet and privacy?  In a shared work space, you have the flexibility to reserve conference rooms (often at a discounted rate with membership) and offices on an as-needed basis. (By the way, if your business is one in which the conference is always booked, let us know: you, too, can reserve conference rooms and meeting spaces as needed.)
• Location, Location, Location. Can your business afford a prestigious address in the heart of the business district? Yes. Though rental and lease rates may be out of your budgetary reach, a shared work space gives you the desirable address you need to wow clients, investors, and other stakeholders.

While not for every business, non traditional office space holds a variety of key benefits. If it’s the right fit for you, contact the Office Evolution team now to talk about shared office space rentals on Harbour Island. See… we told you it was all about location, location, location!