The evolution of modern office space has meant that businesses are no longer subject to a one-size-fits-all philosophy.
Instead, office spaces now come in all shapes and sizes, offering businesses a wealth of choice in selecting the basecamp that’s right for them.
The variety of choices available may simultaneously cause some business owners to feel overwhelmed. In this article, we’ll cover some of the key advantages and disadvantages associated with the various types of office space – helping you determine which of them is the right choice for you. Here goes.
Traditional Office Space
Traditional office space has long been the go-to choice for businesses in search of bricks and mortar property. Although its popularity is being significantly challenged by the flexible alternatives discussed later on in this article, a traditional office could still be the right choice for some business owners.
As traditional offices are usually occupied by a single organisation, they offer businesses greater control with regard to how the space is used.
Office shares aren’t for everyone, and some businesses will find that having a commercial space to call completely their own sits at the top of their priority list. In such a case, traditional office spaces may well be the way to go.
The lack of sharing also means that businesses are able to more fully customise their traditional office in whichever way they see fit. From extensive branding to unique interior design, the opportunity for customisation can be a key advantage for some.
From the relatively large upfront investment to frequent maintenance costs, traditional offices can quickly ramp up expenditure. In turn, this makes them largely unsuitable for businesses in search of cost-efficiency.
Little or no Flexibility
The lack of flexibility is one of the key pitfalls of a traditional office. In many cases, fixed and long-term leases are the norm rather than the exception, meaning businesses are faced with potentially daunting financial commitments.
Traditional offices don’t always allow for the maximum use of space, largely because traditional office space isn’t tailored to the prospective occupier. In practical terms, this can lead to costly unutilised space.
Flexible Office Space
Although ‘flexible office space’ can be used as an umbrella term for several different kinds of office space, its immense popularity undoubtedly warrants its inclusion on our list.
Although the exact definition of a flexible office can vary, the flexible terms on offer are the common denominator tying each flexible office type together. For this reason, many of the benefits listed below are also applicable to coworking and serviced office spaces.
Flexible Terms (and Minimal Obligations)
The flexibility of terms is one of the key benefits provided by flexible offices. In most cases, flexible offices trade daunting long-term leases for short-term memberships, ensuring that businesses keep financial obligations to an absolute minimum.
Flexible offices will often adapt a pay-as-you-go approach, meaning that businesses only pay for the facilities they actually use. Whether you’re looking to pay per desk or only make use of the individual facilities that matter to you, flexible offices offer an opportunity to do just that.
Room for Growth and Downsizing
The modern commercial world is uncertain, and businesses never quite know what’s around the corner. Whether tomorrow brings commercial expansion or the need to downsize, flexible office spaces enable occupiers to easily expand or shrink their business in a way that suits them.
Quick to Move Into
The time and cost of moving into a new office can put significant strain on resources. Through offering a wide range of facilities that are ready to use from day one, flexible offices help make moving in that much easier.
Prime Location at a Lower Price
Location continues to be an important factor for those in search of office space. Although a prime location is one of the key factors in driving up costs, the shared nature of many flexible offices means businesses can establish themselves in a top spot relatively cost-effectively.
Due to the fact that many flexible offices are shared between multiple organisations, the potential for customisation is limited in comparison to traditional offices. Having said that, flexible offices do provide numerous opportunities for businesses to make their mark on their chosen space.
Whilst sharing an office space can be one of the major advantages of a flexible office, shared responsibility isn’t suited to every business. Businesses wanting to take charge of an office in its entirety may be inclined to opt for a traditional office instead.
Coworking spaces are fast-becoming one of the most popular office types – and for good reason. From start-ups to major multinationals, businesses of all descriptions and complexities are opting to make use of the benefits provided by coworking.
Collaborative and Networking Potential
Collaborative potential sits at the heart of any coworking space. Through housing professionals from numerous organisations and sectors under one roof, coworking offices set the stage for many fruitful collaborations.
Varied Work Environment
Breaking the mould of the traditional office environment, coworking offices provide a varied and exciting work environment. With fresh ideas and approaches always near at hand, the inspiration for a creative solution is never far away.
The requirements and preferences of job seekers have continued to evolve alongside office space itself.
Whilst competitive salaries and pension plans still reign supreme for many, first-rate facilities and an inspirational work environment are undoubtedly catching up. Coworking spaces are ideally positioned to benefit from that development, helping businesses attract more and more adventurous talent.
Some may experience the presence of several organisations in a single office as distracting. For this reason, companies looking to pursue their specific objectives in relative isolation may not be ideally served by setting up shop in a coworking space.
Sharing the Space
Coworking spaces are all about sharing, which is why this kind of space isn’t always suitable for businesses who wish to have full control over their office space. On the flip side, that preference may often lead to higher costs for the business in question.
Serviced Office Space
Aside from offering many of the advantages of flexible office space, serviced offices are often fully equipped and managed by an office provider or third party. As such, businesses that occupy a serviced office enjoy a high standard of convenience without having to worry about maintenance or servicing themselves.
Serviced office spaces can provide every facility under the sun as part of an inclusive, all-in-one price. From staffed receptions and security to services related to maintenance and cleaning, the possibilities are truly endless.
Little to no Maintenance
Because services and maintenance are taken care of by the office provider, businesses operating from a serviced office can enjoy every luxury without any added responsibilities. As such, serviced offices are a great option for businesses looking to combine convenience and flexibility.
Depending on the range of services and facilities used, serviced offices can drive up expenses through the sheer wealth of amenities available. Although this aspect may serve as a disadvantage for some businesses, most if not all serviced offices ensure that any added expenses are left fully within your control.
Looking to Find the Right Office Space for You?
Offering thousands of attractive offices across the globe, the Office Freedom team can help you find the ideal office space for your business. Get in touch with their team of experts today to see what they can do for you.