Thanks to the internet, cell phones and executive suites, serviced offices and the virtual office, workspace alternatives that we could never have imagined even ten years ago are evolving at an exponential rate. Four of the options are detailed below.
Standard shared office space
Space Details: Typically located within another company’s existing office, this type of shared space includes private offices, cubicles, and/or workstations. This setup is good for businesses and startups that regularly need a conference room, multiple phone lines require privacy for their employees.
Convenience: These shared offices often offer services at no additional cost, such as a shared break room and/or kitchen, use of a shared conference room, and a shared reception area. Use of a document center, photocopying and mail, as well as shared receptionists are sometimes included for a prorated portion of the cost.
Rates: Typically between $250 and $1,000 per month, and flexible lease terms are generally available to business owners, independent entrepreneurs, and small business owners. Rent is often determined by the amount of space a business needs.
coworking communities
Of all the options we are investigating, coworking communities, while not new, are certainly the newest. Coworking spaces are all about offering more enjoyable places to work, as well as building a community. They are also based on members’ shared values such as collaboration, community, sustainability, openness and accessibility.
Space details: These communities typically have a mix of common areas, communal desk space, a few private offices, and shared use of a conference room. While this environment is ideal for creative and outgoing people, it is not ideal for those with privacy needs or who spend a good part of the day on the phone and need quiet.
Convenience: May include broadband internet, network printing, free coffee, IT support, use of shared kitchen, fax/copy/scan, white boards, projectors, social events, and networking events within the coworking space.
Rates: Vary based on your use of the space, typically by the hour, including time you need in the conference room and time you need at your desk or private office. Visit the coworking wiki at coworking.pbworks.com.
business incubators
Space Details: A business incubator is an organization designed to accelerate the growth and success of entrepreneurial companies. Typically, between fifteen and twenty new companies share these spaces, after a rigorous and competitive admission process.
Convenience: One of the most attractive features of an incubator is affordable rent, but amenities include a variety of business support resources and services that could include physical space, capital, training, common services, and network connections.
Fees: Rental fees vary by location and program. Go to the National Business Incubation Association for a detailed explanation of incubators and to find one in your area.
executive suites
Space Details: This is a fully furnished and equipped office or office building, managed by a facilities management company. The company rents out individual offices or even entire floors to other companies. This shared office space typically has a traditional, professional atmosphere, often in Class A office buildings in city centers, offering more impressive and well-known addresses than small start-ups can afford. If you need a high-profile address to enhance your credibility, this is the option for you. It is also an excellent option for companies that need branches in other cities or states.
Services: Executive suite features often include shared services such as reception, catering, meeting, conference and training rooms, and courier services. It may also include access to business equipment such as broadband, WIFI, photocopiers, printers, telecommunications (phone number, fax, answering services, and lines). Kitchen facilities are often part of the deal, as are common areas and parking spaces. Sometimes additional services cost additional fees, but these are still usually a fraction of what you would pay for permanent full-time services.
Fees: Rent is often lower than typical office space since it is often shared. Tenants save money on furniture, office equipment, and salaries for support staff, since a shared receptionist can come with the space. Like most options, rates vary based on location and how long each month you’ll be using the space.
