What factors should I consider when deciding between renting an office or getting a co-working space?

 

 Whether you are a new entrepreneur or small business owner you might often wonder, what factors should I consider when choosing between renting a traditional office space and signing up for a co-working space?

 Here is a guide for you to consider before deciding :

• Financial obligations:

Traditional office leases cost more in desired locations and require a very high deposit depending on your personal or business credit.  At the same time, a co-working space often requires little or many times no deposit at all, depending on location. Just because there is no minimum length to your contract, therefore financial obligation for a starting business is especially low here.

If you want a small space for your work like about 100 square feet then Co-working is cheap. Usually, coworking space has about 1-month obligation but a traditional office has about 1-2 years of lease commitment.

• Customer satisfactory factors:

Often the Co-working space highlights your name anywhere, whereas, in a traditional office space there is a certain level of signage in the lobby, side or door of the building, etc. Also, a Co-working space includes a security person who can direct your visitor to your office premises or call you to meet your guest. Your own space might include security at the ground floor level and your reception support.

• Networking and social factors:

Co-working spaces often feature putting all your team into one open room. It often features common areas with sofas and coffee tables for conversation, water, tea, and coffee. Also, there is art on the walls, frequently with inspirational messages to spur creativity and productivity. You furnish your office environment to your taste, and you set the social tone for the team. The Private times, permanent whiteboards for meeting discussions, or team targets are often much easier in your own space.

Whereas if a traditional office space wants to network, they have to seek such networking opportunities through their friends, acquaintances, and clients, very often they join professional organizations, become board members, or sign up for classes for networking.

The Co-working spaces offer networking opportunities just by definition of being a “co-working space”.  There are much more opportunities to strike up a conversation with other professionals from a variety of industries, thus expanding your network altogether beneficial, to the business owners who are less savvy at networking. 

Many co-working spaces also hold weekly and monthly events which might be industry-targeted. These events might give you professional education, or become opportunities for you to showcase your experience and skill set. This means you have opportunities to meet people outside the co-working space, thus ultimately helping you with your networking facilities.

• The Growth factors:

If your growth is uncertain and you cannot afford a lot of space, then co-working space might be just right for you. It works If your team might just need enough space for a certain term.  You can consider Office Space On Rent Noida  for any such considerations.

On the other hand, if you have a visible target of doubling your staff in a few months, then it can be good to show up on a permanent space of your own.

• Privacy and security:

A traditional office offers privacy in that they have full control over who is on the premises, the hours of operation, and the wireless internet cybersecurity protocols.  These are factors that important for the professionals of the industry. Whereas in a large, open-space co-working space it doesn’t offer much privacy if you haven’t booked on your own private office or a conference room.  This could be important if any industry’s main motive is confidentiality and client privacy even if you’re just on the phone talking or typing an email.  

 Conclusion

Are you considering a co-working space in Noida expressway over a traditional office?

 Let's connect is here to help you. These office spaces in the Noida expressway are the most convenient and cost-effective co-working spaces with many added benefits for you. Feel free to call us today to get our services!