With the growth of businesses and entrepreneurs in our country, the need for flexible office spaces is also rising high. These concepts are very popular among small startups but now, larger corporations are stepping towards the concept of shared office space to provide their employees with a better and comfortable environment. There is a potential for tremendous savings in the operational costs with shared office spaces. Two of the most popular shared office space concepts are co-working space and serviced office.
1. Basic Definition
To understand both concepts of shared office spaces we will have to start with the basic definition first.
Coworking spaces refer to an office space that can be used by freelancers, entrepreneurs, businessmen or a team who are willing to work in a regular office space rather than in isolation of their home office. This kind of workspace is very flexible and it offers various types of facilities and services which are according to the needs of the business. Some websites that provide you with coworking spaces are We work, Awfis and also Myrsa.
Serviced office are those building in which each company has an individual floor or an individual office to themselves on rent. These buildings come under the regulations of a facility management company. These offices are mainly known are business centres or executive suites. In India, there are many companies that provide serviced office spaces.
As co-working spaces are something that is a space inside one office, maintaining privacy becomes a bit of a concern. This is because there will e people around discussing their projects and walking around in the space. Everyone has a common space but if you book a space like a cabin to yourself then it will be much better. People who work in coworking spaces should respect and maintain decorum for everyone to work efficiently.
In a serviced office space, each company has the liberty to work inside their own respective offices. Businesses are able to maintain their own rules and regulation inside their offices and every startup or company can work peacefully in their own environment. Thus the privacy of each company can be maintained well.
3. Community Events
Coworking spaces organise events usually to keep the employees motivated from time to time. These events help in networking and also relaxing from work for a short amount of time. Entrepreneurs and freelancers get to discuss new ideas and this can help them a lot for the creation of bigger ideas and collaborations.
Community events are not held so much in serviced offices as they have their own individual workspaces. This reduces the scope of interaction with other companies and other organisations. They have their internal events in their offices from time to time and every company can differ in such events.
Agreements in coworking spaces are on a temporary basis. They offer a lot of flexibility to freelancers, entrepreneurs and companies who rent out the spaces. It can be according to the requirements like the number of people and how long will they require it for. A coworking space can be booked for a few hours, a few days and even for a week. Usually, it is rented for shorter periods of time.
Companies that are going for serviced office need to pay rent on a monthly basis. Unlike coworking workspace, these are leased for longer periods of time and for companies having a larger group of people. The lease period may start from a month and may go up to a few years. The rent amount of this office is also much higher than that of coworking spaces.
5. Extra Amenities and Extra Space
In a coworking space, entrepreneurs have additional services like a game room or a resting room and this will include inside the particular rent amount. There are usually extra spaces available for entrepreneurs they can make use of the additional features that are there in the office. This can help reduce stress and can provide a comfortable environment for the business owner.
Related Post: 6 Affordable Retailing Alternatives for Small Businesses
In a serviced office as the company has its own space they use it for the accommodation of every employee. They usually do not have extra rooms available for the employees. Every office has the same layout in these business centres and it depends on the individual office how they utilise it and how they would plan the interior. However, some services are that they have managed reception and maintenance facilities and security services available.
Now that you are well aware of both of these spaces. Decide on what suits you the best. Renting out spaces on a temporary basis and searching for spaces in a different location can become a tiresome task. Myrsa helps you with this. It is an online platform for short term renting of office spaces. You can decide the time and space required and search through various options and start working in your own office.