Traditional businesses have very different requirements than modern businesses. Many businesses, for example, are clamoring for new sorts of workspaces that will provide them with more options to fit their preferences. Services offices and coworking spaces have risen in popularity in recent years, attempting to disrupt the typical brick-and-mortar corporate locations of the past. Many business executives, on the other hand, may become perplexed as they try to figure out which option is best for their company.
Many businesses are shifting to “flexible office space” these days, which are spaces that may be leased for shorter periods of time and can scale up or down as your company develops and evolves. Coworking spaces and serviced offices are two of the most popular types of “flexible office space.” So, what’s the difference between the two? And how can you know which is the best option for your company?
What is a serviced office space?
A serviced office, also referred to as a shared office, is not the same as a coworking space. A fully furnished and equipped serviced office space is ready for immediate use. They can house either smaller teams as well as corporate organizations. Serviced offices can provide everything from single cubicles to several offices, conference rooms, even kitchens in some cases.
Most serviced office space will include phone, internet, and postal services as part of the lease, and the cost will be less expensive than a regular, private office space. Business equipment such as fax machines, copiers, audio-visual equipment, and office furniture are also available in certain shared office spaces.
What is a coworking space?
Coworking spaces are popular among techie entrepreneurs and freelancers. Coworking spaces are different in terms of amenities, services, occupants and atmosphere. While some are more relaxed, with ping-pong tables and some space for Friday night cocktails and community lunches, others are better suited to serious concentration and are favoured by entrepreneurs that are well beyond the start-up phase of their businesses.
Coworking spaces cater to lean start-ups, entrepreneurs searching for a sense of community, and freelancers hoping to boost their productivity while away from home. They often have a bright, dynamic atmosphere, with a focus on a sense of community and sharing resources.
If your company would benefit from networking and a high-energy environment, a coworking space might be right for you. You can rent a group of desks, a single desk, or use hot desks on a temporary basis.
Serviced Offices vs Coworking Spaces
The three main factors businesses have to consider when choosing between coworking vs. serviced offices include:
1. The Workspace
Coworking spaces typically have an open floor layout, allowing for easy collaboration and sharing of resources. They offer a more “lifestyle” vibe to them, with features and luxuries like pool tables, bars, and even sleep rooms. You can rent by the desk, whether it’s a “hot desk” or a “dedicated desk,” or you can rent the entire suite for your complete staff. Because the leases are flexible, it’s simple to scale up or down as your company grows.
The majority of serviced offices are more compartmentalised than the usual coworking space. Individual “cubicle style” desks, private offices and suites for individuals or teams are common in these spaces. Hot desking and dedicated desks are available in some serviced offices, such as Workspace at Keppel Towers. They have certain common facilities, such as conference rooms, boardrooms, and pantry areas, just like coworking spaces.
2. Design of the Workspace
The environment in coworking spaces is often more relaxed and casual. As previously said, they are typically designed with an open floor plan in mind. The design will differ from space to space, but you can expect modern, creatively inspired facilities with their own unique twists based on the community’s personality.
The style and feel of serviced offices is more corporate and professional. In comparison to a coworking environment, the mood and colors will be much more subdued, and the design will not be conducive to collaboration. For some, this may be beneficial because it allows for more independent, silent, head-down work.
Many coworking spaces, which are frequented by entrepreneurs and freelancers, have a culture that exudes the entrepreneurial spirit. A community manager is frequently, if not always, employed by these workspaces and is in charge of onboarding new members, preserving the space’s culture, and encouraging member engagement. They may also conduct regular activities such as community luncheons or networking cocktails on a weekly basis. It’s worth noting that coworking comes in a variety of shapes and sizes, and that certain locations are better suited for specific businesses or industries than others.
Businesses of different sizes use serviced offices, ranging from one to two-person teams to groups of 20 or more. Corporations frequently use these rooms for short-term projects, as well as for office relocation or remodeling. There is no distinct culture facilitated by a community manager or member, unlike coworking places.
Which is the best office space solution for you?
Both serviced offices and coworking spaces give you the option of transitioning from remote work to a physical location. They both provide many of the advantages of having a home base for your business without the additional responsibilities that a typical leasehold can entail.
Here are some questions you need to consider when choosing the right office space for your business:
- Are you looking for a shared workspace to network in or a private office to work in?
- How much space do you need, and does it offer you growth opportunities?
- What kind of facilities does your company need?
- Do you require a private area to keep confidential information safe?
- What is your budget?
At the end of the day, the decision to get a desk in an open-plan coworking space or your own private serviced office is a matter of personal preference and business needs.
If you’re transitioning from working remotely to selecting an acceptable office space, it’s a good idea to do your homework first. Make sure you and your team go to each shared office or coworking space first, and don’t just look at the price per square foot.
Enterprise software development experience. More recently in positions including CTO, Lead Developer and Head of Product in Australia. Deep expertise in property and legal technology in Australia with a specialty in lead generation and tech scalability across Asia-Pacific.