Things to look for in a shared office space

A shared office space is a place where different individuals or businesses work together in a common environment. Instead of having separate offices, people from various companies or freelancers share the same workspace, facilities, and resources.

Informal interactions and networking among people promotes the exchange of ideas, and makes shared office spaces an opportunity for collaboration with other professionals. Shared office spaces often provide amenities like meeting rooms, Wi-Fi, and communal areas to ensure convenience and a seamless working experience.

The Statista Research Department projected that there will be around 41,975 co-working spaces worldwide by 2024. Increasing demand and popularity of remote and hybrid work policies, coupled with technological advancement and improved connectivity, are paving the way for the rise in the number of people opting for shared office spaces or co-working spaces.

Shared office vs co-working space

A shared office space and a co-working space are similar concepts, but there are subtle differences. In a shared office space, people share a common work environment, but may have their own designated offices, cubicles or desks within that space. This arrangement is good for small teams or businesses looking for some level of privacy.

Sometimes, companies may lease a space that is too large for them, and may choose to rent out the extra space in the form of offices, desks, cubicles, etc. But as the name suggests, people are just sharing an office space, not necessarily ‘co-working’

On the other hand, co-working spaces typically place a greater emphasis on openness, networking, collaboration and social interaction. People may not necessarily have a designated office, they may even work on one desk that is large enough for multiple people! Some co-working spaces may host events that give freelancers, start ups and remote workers an opportunity to collaborate with each other on projects.

However, there is no definition of a shared office space and a co-working space that is set in stone. You may even find spaces that allow for both, sharing a space and co-working. Since these two arrangements bear a striking resemblance to each other, they are often used interchangeably.

Choosing the right shared office space

Location

If you are an independent contractor, freelancer, or remote worker, you don’t want to spend much time in commute. Look for a place that is closer to where you live, or offers convenient access to transport. If you are working with a team or meeting clients, you may prioritize their convenience too. Usually, it helps if the location is central to where most people live, like a city or a junction.

Budget

When you rent a shared office space, there are several things you need to pay for, like rent, utilities, and additional fees mentioned in the rent or lease agreement. Compare these costs with your overall budget to ensure that you can afford to spend on an office space without a sizeable dent in your savings.

Transparent pricing plans are a green flag when it comes to rental agreements. Carefully examine the contract for any hidden charges or fees. Evaluate the flexibility of the lease terms and whether they align with your financial situation.

A slightly higher upfront cost is justified, if it includes essential amenities and services that save money in the long run, like wi-fi, meeting rooms and supportive administrative services. By thoroughly understanding the financial aspects, you can choose a shared office space that not only fits your budget but also provides value for your money.

Creating a productive work environment

A shared office space becomes a part of your work routine. That is the space where you will brainstorm ideas, present yourself in front of clients, carry out paperwork or data entry, interview candidates for a job, and many more. Your entire to-do list has to be checked off here.

It is vital to ensure that the physical space and atmosphere boost your productivity and help you get things done on time. Moreover, it has to look appealing to your clients and potential employees, partners, etc. Certainly, there’s a lot to be examined while choosing such an important aspect of your job! Ample natural light, comfortable and ergonomic furniture, high speed internet, well-equipped meeting rooms are some of the key elements contributing to a productive work environment.

Reach out to the current occupants for reviews, feedback and testimonials for an insight into the overall atmosphere and support services provided. At the end of the day, a shared office space is an investment. Feel free to take as much time as you want to explore and gather information about the work atmosphere and culture.

Networking and collaboration opportunities

A 2022 Jobvite survey found that 46% of respondents search or find out about job openings through their friends, and 25% through their professional connections. Only 33% of them search on employer career sites, and 23% in job fairs. Clearly, networking and collaboration is important for career development today.

Look at the kind of opportunities that are available for you to connect with other professionals. Shared office spaces may organize events, seminars, workshops as structured opportunities to meet and collaborate with the other occupants.

Additionally, shared spaces often have common areas like lounges and kitchens where informal conversations can lead to collaboration and idea sharing. Shared office communities may also have online platforms or forums for members to connect virtually, share expertise, and collaborate on projects.

Such interactions will stimulate creative thinking and motivate you to work harder. Moreover, networking will help you climb the corporate ladder, reach out to new audiences, learn new skills, and any other career goals that you have.

Balancing privacy and networking

Some tasks require group work, others require a quiet environment for solitary assignments. When you look at prospective shared offices, look for areas that allow meetings and social interactions, and those that allow for privacy and quiet reflection.

Assess the layout and design of the space – a well-designed shared office should provide private areas for focused work alongside collaborative zones for networking. Check if the shared space hosts networking events or has communal areas where occupants can interact organically.

Read reviews and testimonials from current occupants to gauge how the community and atmosphere are managed, ensuring a healthy balance between socializing and individual work. By selecting a shared office with flexible options and a thoughtful design, you can create a work environment that meets both your need for privacy and your desire for networking opportunities.

If you are a remote worker, freelancer or entrepreneur, it is important to ensure that your shared office space meets your expectations. Location, budget, work atmosphere, networking opportunities and spaces for solitary, focused work are the key elements to look for in a shared office space.