Virtually all types of business require office space of some sort – whether it’s a small office or a large complex. If you’re just getting into business or are looking to cut costs, you’ve realized that office space drastically increase your overhead expenses. Although office space is essential for running your business, there are other options that can minimize the costs of office space but still leave you with all of the benefits.
Shared office space, often called serviced office space, business centers or executive suites, are shared with other businesses, as the name implies. In a shared office space situation, you’ll have access to the business facilities that you need without the high cost and risk of running your own office. You’ll typically get mail handling, telephone services, Internet access, printers, copiers and physical office space where you can meet clients. All of this adds up to a smart move for your business.
Shared Office Space Saves Money
The biggest benefit of shared office space is that it can increase your bottom line. For example, operating costs for a typical two person office with administrative staff support is 60% of the cost of a similar office setup under a traditional lease. You can expect to pay much more if you need conference rooms and additional space. Imagine what your business could do with that extra capital!
Shared Office Space Lets You Focus
Shared office space is also a smart solution because it lets you focus on your business. When you are in charge of running the office itself, you’ll spend a lot of time hiring and training administrative staff. While this isn’t necessarily a bad thing, it can be if you don’t have the expertise or the time to do so. In contrast, shared office spaces have their own administrative support teams that can take care of your incoming calls, mail, and other office needs. You can hire individuals that have specialized roles and leave the administrative support tasks to the shared office team.
Shared Office Space Increases Your Network
Typically, a shared office environment means that the main portion of the office – the lobby, common rooms, etc. – will be shared by multiple companies. Although the office staff will always treat your clients as if they are visiting your office exclusively, you’ll encounter the other office occupants. This can create great networking opportunities for your business. For example, if you run a law firm that is sharing an office with a small business accountant, you can benefit from referring clients to one another. There may not always be a direct referral possibility, but getting to know other businesses can lead to great marketing opportunities.
Shared office space makes good sense for all of these reasons and more. To get started at one of our shared office space facilities, like the San Mateo business center, give us a call to request a quote or to schedule a tour.
Research Analyst, Pacific Business Centers (rebranded as Pacific Workplaces)
Courtney’s research for Pacific Business Centers focuses on tracking emerging business trends and best practices – with an emphasis on how they affect business operations, technology, and office space infrastructure