Every business owner will know the importance of choosing the perfect office space for their business. Your office, the ambience and the external plays a crucial role in attracting and retaining customers. It also contributes to employee morale and productivity. When it comes to office spaces, there are multiple choices available for business owners. Ranging from traditional offices, coworking spaces, serviced offices, virtual offices and more, business owners can take their pick based on their business model and business requirements. In this blog, we will be delving into two types of office options – a coworking space and a serviced office.
What is a coworking space? A coworking space is defined as an office arrangement where multiple workers from different companies share a single office space. Coworking has become quite popular over the last few years, especially amongst startups and freelancers. By coworking, companies can save on their costs by sharing office expenses and overhead expenses like rent, electricity etc. In addition, most shared office spaces also provide extra benefits like pantry services, receptionist, fully-equipped meeting rooms, recreation rooms and more. The cost of these office spaces is inclusive of the above additional advantages, making it a lucrative option for professionals.
A serviced office can be defined as pay-as-you-use office spaces that are located in a building managed by operators. These offices are fully-furnished and equipped with all the necessary facilities and amenities. The building operator has the option to either let out a single office or an entire floor to a company. Similar to coworking, the daily maintenance and provision of amenities is the responsibility of the building operator and not the tenants. Considering that serviced offices do not involve any additional or hidden costs, they are a cost-effective alternative to traditional office spaces.
Coworking Space vs Serviced Office
Both coworking spaces and serviced offices are in demand, as compared to traditional office spaces. The major differences between these two include:
Which option to choose?
The option you select depends upon your individual needs and requirements. Keep in mind your business objectives, company size, annual revenue and company culture while selecting your office space. If you are just starting off with your business, a coworking office space would be a better option as it is relatively more cost-effective and you get access to experts from different companies and industries who can guide you on how to proceed. On the other hand, if you are looking for a completely private space for your company, then a serviced office would be a better alternative.
At Rainmakers Workspace, we have a variety of seating options like hot desks, private cabins, dedicated open desks and more. Get in touch with us to know more about our office options, pricing plans and offers.