Working in an office is no longer an overwhelming concept as before. Nowadays, you can be working in an executive suite, renting a co-working space, or negotiating a sublease. There are plenty of options when it comes to working in an office.
Are you looking for office space for your startup? Unlike more established businesses, most startups often search for small, affordable, and flexible working spaces. In most cases, this means having to choose between renting commercial property and co-working spaces.
Depending on your needs and situation, one of these options may be favorable to you than the other. This article highlights the benefits of renting your own space instead of using a shared co-working space.
While co-working may be cheaper and convenient for some individuals, rented commercial space has lots of advantages over co-working spaces. These advantages include:
Are you looking to establish yourself as an independent, personalized brand? Renting a commercial space allows the opportunity to tailor your office space to match your needs. Ideally, in a private rented office space, you can put up your banners and logos, play music, arrange custom furniture and fittings, as well as do in-property construction.
On the other side, having a co-working space limits any extra activities and projects that allow you to customize your office. You are limited to the office construction, furniture, and fittings in the co-working space.
If your business depends on client meetings or confidentiality, a co-working space arrangement could potentially be a real issue for you or your employees. Renting a commercial office space means everyone in the vicinity is working for the same entity. When you rent a commercial office, you will avoid potential privacy issues including:
These privacy struggles make the idea of having a dedicated rented office more appealing.
Much like for individuals, businesses also want to mature and gain stability gradually. When a startup grows and finds its identity, the flexibility of co-working tends to be a massive advantage.
However, as your business keeps establishing itself, the prospect or idea of having a personal rented office space as your business' home for the next few years or decades becomes more appealing. As you settle your business in your rented office space, you don't need to worry about looking for new locations, moving arrangements, and costs.
By renting your commercial property, you can boldly place your company logo on the sign above the entrance, outside the street, or your window. When a prospective business client, partner, or interviewee walks into the property, they enter a space that reflects your business, community, culture, and values.
Renting your commercial space keeps your workspace and employees safe from negative external influences. Additionally, renting your own space means your business can be recognized and listed on Google Maps, making it easy for clients to locate and visit your office.
Owning office space is one of the most potent ways to show the world your commitment to long-term growth and stability for your business. When you rent an entire commercial property for yourself, that means you are telling the world that your company is prospering and growing. This will reflect well on your company image and help you attract clients, partners, and staff members.
Renting a commercial space enhances productivity since you are in control of how the office is set up. Having your own space helps you avoid distractions and disruptions from outside your office. Employees can make the most out of their workdays without having to worry about neighbors or strangers interrupting them.
Additionally, with a dedicated place to work in, employees get the opportunity to personalize their workspace and be creative, allowing them to work efficiently. The private space also allows your employees to take breaks, get together for meetings and brainstorming sessions, relax, enjoy music while working.
Our real estate and property management experts can help you understand the pros of renting your commercial property overusing co-working spaces. At GM Holdings, we lease quality office space to small and large businesses.
Our properties are designed with modern office needs in mind. We can advise you accordingly and set you up with the best private space that meets your individual and company needs.