Renting out a co-working space is now the trendiest thing to do for startups and small and medium enterprises or SME’s because of its ability to provide freedom and flexibility to operate without any restrictions or maintenance compared to having an own office that is equally costly and lacks the diversity it needed to boost creativity and new ideas that can help grow your business.
Co-working spaces offer a whole different working environment for a new generation of business leaders and young entrepreneurs who strive in the fast-paced environment that does not entirely require the conventional office space. However, due to its trend, there are a lot of companies that offer co-working spaces and coworking space central in the vast majority of cities around the world, due to the overwhelming choices available, you should consider some important factors that make it deserving to be considered as your new temporary office.
- Availability of parking area- It would be better if the parking space is for free for the tenants and most of all it should always be available. You are already renting an office space which already costs you money and it would be disheartening that you have to pay for the parking space. Always choose a shared office space that offers a free parking area for its clients like you, unless if the shared office space’s location is a walking distance from where you are staying.
- Accessible location- This factor is very crucial because if you are running an SME or startup and your client wants to meet with you but your shared office space is located in the outskirts of the city, chances are, they would look for another SME or startup because of the hassle getting there, and if the other way around, you are forced to leave your office space to meet someone who is far from you. Choose a shared office space that is strategically or conveniently situated in a business district of your city which have the accessibility to highways, transportations, and establishments for your convenience.
- Reasonable cost- Make sure that before you sign the renting contract of your chosen shared office space, you should check if there are hidden costs that may affect or hurt your budget. You should be knowledgeable about the costs of paying your shared office space monthly and when is the recurring due date. If there is an extra cost, feel obligated to ask questions from the owners of the shared office space to enlighten yourself.
- Interior design and appearance- Considering that you meet your clients, and business partners in your shared office space, make sure that it is well lighted, well furnished, air-conditioned and have good furniture to sit with. Bottom line is, the place should look nice and comfortable.
- Terms and conditions- Since you are temporarily using the shared office space, you should determine how long or how short a lease you can avail. This depends on your negotiated term with the owner of the shared office space. Short-term leases are ideal compared to long-term lease because you have an option whether or not to renew your contract or move to another shared office space or meeting room central if your term is up.