Shared Office Spaces: The Cost-Effective Answer

beautiful office space at Barrister Executive Suites with a lot of natural light

Shared office spaces are one of the most popular office trends for 2020 and beyond. Millennials have adopted shared office spaces as a way to save money while still having access to common office amenities. These amenities include conference rooms, printers, kitchens, and more at a fraction of the price of traditional rental agreements. Here are some ways a shared office can help your business save money this year:

Fully Furnished

When renting a shared office space, you do not have to worry about common office furnishings including chairs, desks, or filing cabinets. Traditional rental office spaces are typically empty, and the cost of furniture can add up quickly. On top of the monetary cost of office furnishings, furnishing an office from scratch can take a lot of time, which if you are running your own business, you don’t have a lot of time to spare.

In-House Staff

Shared office spaces may provide receptionists and administrative staff, depending on the company. At Barrister Executive Suites, we provide receptionists, mail sorting & delivery, janitorial staff, and more. This is beneficial compared to traditional rental offices because your business does not have to pay wages for these roles. Tasks such as answering the phone and greeting clients are covered by the staff at shared office spaces.

Flexibility of Contracts

In shared office spaces, you do not have to worry about being tied to a lengthy and costly contract. Shared office spaces are typically rented at a month-to-month basis and are a fraction of the monthly cost of a traditional office space. This flexibility is priceless for startup businesses that are unsure of what the future holds. Also, the low cost of a shared office is a definite bonus for all businesses that use this service. Who wouldn’t benefit from lower overhead costs?

Barrister Executive Suites is a great alternative to traditional office leases for those looking for flexibility and lower costs. Check out the Barrister Executive Suites Office Suite Cost Comparison to see for yourself how much you could save when using a shared office!

The Differences Between a Shared Office and Coworking

barrister executive suites century city conference room

In the modern digital world, traditional offices are becoming less and less important to businesses. With so much of the work being completed online, it is easy to see why so many businesses have begun to turn toward shared office spaces. Shared office spaces offer flexible office spaces that can often be a much more cost-effective and practical option for organizations of all shapes and sizes. Although shared office spaces and coworking spaces are both very pragmatic options, they have their own unique differences.

Details of a Shared Office Space

Shared office spaces are a fantastic choice for many businesses because they keep commercial real-estate costs at a minimum and offer some privacy simultaneously. They also can come with great benefits such as mail sorting/delivery and receptionists that will assist your business with standard operations. Some shared office spaces provide great amenities like fax and copy machines, printers, high-speed Wi-Fi, and more. Shared office spaces are also designed for professionalism and are sure to leave a strong impression on any client or customer that walks into your business. The biggest difference of working in a shared office space compared to coworking is the limited amount of networking and collaboration. However, the privacy of a shared office space is usually preferred over the networking opportunities.

Details of a Coworking Space

A standard coworking space usually offers conference tables, community conference rooms, and breakrooms that are useful for networking with like-minded peers, collaborative meetings, or brainstorming projects. However, the two biggest drawbacks associated with coworking spaces are the difficulty getting privacy as well as the high ambient noise volume, which can make completing time-sensitive work a hassle and concentrating on tasks almost impossible. In some coworking spaces, the membership fees are too high for freelancers or startups, and the services you pay for can sometimes be underutilized. Some coworking spaces don’t even provide any valuable services such as a receptionist to answer your phone calls or internet service. Having a receptionist available to answer your phone calls is an important feature for any business. Receptionists ensure that you will never miss a call from a potential client and that you will spend less time answering phones and more time running your business.

Deciding whether to use a shared office space or coworking space is entirely up to you and your business’s needs. If you are interested in learning more about the services offered at Barrister Executive Suites, contact us today.

Barrister Executive Suites offers the exceptional service, flexibility, and convenience that their tenants need to run their businesses successfully. Visit our website today to learn about our special offers and affordable virtual office packages, full-time offices, and conference room rentals.