Many startups have limited funds and low revenues so they cannot afford to rent or purchase an office. However, if they work from home, they are isolated from others and may be disturbed by family members when they are performing. So many business experts and consultants will advise the startup to have a shared office. Business owners and startups who have not worked in a shared office will often ask what is shared office space. Hence the features of a shared office, benefits and pricing are described in detail, so the business owner can choose the right shared office for themselves.
Most small businesses may not have any employees or only a few employees. So the business owner often only requires desk space for working, and can only afford to pay for the desk space. However, if he wishes to hire a conventional office, he will have to pay rent for the entire office, though he will use only a part of the office.
He will also have to do the maintenance of the office, clean it and pay the utility bills. If the business revenues are low, the business owner may not find it economically viable to pay the office rent and other expenses for the office.
Realising that there are many startups and small businesses which require office space but cannot afford to pay a high rent monthly due to low profits, some companies have developed shared offices that a large number of businesses can use, paying far lower office rent. The shared office provider provides the furniture, furnishings, and fittings and also takes care of office maintenance, cleaning, security, paying the utility bills and arranging for security. Depending on how much the business can afford to pay, and the number of staff they can choose from different options like basic, unlimited desk or studio office at the shared office.
One of the main advantages of a shared office is that they provide a business address for all their customers. The customers can use the business address of the shared office for correspondence, visiting cards and other stationery, even if he is actually working in the office only one day in the month. Most of the shared offices are located in the city’s central business district (CBD), and the rental rates for commercial property are very high in these areas. So using the shared office address as a business address can help a business in creating an excellent first impression on clients, especially local clients.
Many people are opting for a shared office mainly for mail handling facilities. For some businesses, the business owner and staff are largely outdoors, and there is no one to receive the correspondence at the mailing address. The shared office usually has a receptionist and security who will receive courier and postal correspondence on behalf of the customers. There are also other facilities like photocopying, taking printouts and sending faxes, available, which the business can use and only a nominal amount based on the extent to which they are used. Pantry services and meeting rooms are also available.