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Traditional vs. Coworking vs. TechSpace
When it comes to finding the right office space for your business, you have a lot of options. Not only do you have a ton of choices in terms of location but you also can choose the type of office you want. Different types of office spaces may be more appropriate for different businesses, but that is for you to decide. We’re just here to give you a rundown of a few types of office spaces you can choose from.
Traditional Office Space
Traditional office space means you’re leasing space from a landlord. Your monthly rent only pays for the rentable square footage of the space. Typically a lessor (you) must pay for the cost of setting up your office space. Often this starts with the physical space itself or structural changes for special uses like creating private offices, conference rooms or break areas. Next are furniture, fixtures and equipment (FF&E) which include workstation furniture, meeting room furniture and general office decor, secure IT data network (data cabling, switches, routers), Wi-Fi, telephone system and any other required equipment (mail room, filing cabinets, etc.). One last thing to consider is other “hidden” costs such as electricity, water, HVAC and CAMs (common area maintenance) charges. This may be incremental to the monthly rent. Some lease agreements are renewable every one or two years, however, three to five years is typical and there are penalties for breaking a lease agreement prematurely.
While renting traditional office space allows for great customization of your global headquarters, business owners must be aware of all the costs, time and energy it takes to get a space fully operational.
Coworking is an office environment that involves sharing office space with other individuals. Unlike traditional offices, coworking spaces are fully shared environments that provide users a seat at a table or a dedicated desk in large, open spaces for a membership fee. These spaces are typically filled with individuals/independent contractors or early startups that are looking to get out of their home office or garage. This type of environment often fosters collaboration between strangers thus the name coworking. While users are involved in disparate projects or businesses, coworking spaces advocate a sense of camaraderie through togetherness, common goals and various synergies that can occur while working in the same place alongside one another, but often have the inability for any privacy. Coworking spaces often host social gatherings in order to solve the problem of isolation that many freelancers experience while working from home.
There is a chance for some free Wi-Fi and coffee, but you won’t run into any phone systems or receptionists to screen your calls here.
TechSpace is a happy marriage between a traditional office space and a co-working space.
TechSpace offers a unique business platform specifically designed for companies looking for a private, highly-flexible, low-commitment option. Our spaces feature smartly designed, creative finishes and innovative, interconnected office suites. This provides businesses room for growth or downsizing as necessary, without the high cost of moving.
In stark contrast to the “one size fits all” office environments of the past, our creative office space caters to the highly-fluid needs of any company. Our model provides scalability, allowing companies to grow on demand while providing them with a Fortune-100 business infrastructure at a fraction of the cost. We provide the high-speed internet, a phone system, and all the furniture you’ll need—plus there is even a receptionist to answer all your calls.
For example, if you have a startup or are launching a new business, chances are good that you will be expanding your company at some point during your lease. This can be a difficult thing to renegotiate if you are in a long-term lease in a traditional space. With TechSpace, your office is scalable, so when you grow, your office can grow, or if you need to downsize, we can get you into a smaller space.