These days you don’t have to be rebellious to opt for an alternative kind of office space. When it comes to workspaces of the future, the emergence of flex office spaces and coworking hubs have opened the door to a new world of workplaces. With the use of more experimental interior design, and the inclusion of contemporary artwork, collections of vintage objects, neon signs, bright colors and plenty of foliage and fun signage, the world of work has had a dramatic makeover. Now that there is a variety of flexible office alternatives available, the challenge is how to choose the right space for you and your company in a landscape where flex offices are in demand.
Why is your choice of Office Space important for your Company?
Your choice of office space is a crucial aspect of your business that can significantly impact your company’s success. It is not just a place where your employees work, but it also serves as a representation of your brand and culture. The right office space can improve productivity and collaboration, leading to higher employee retention, better product innovation and a positive impact on the bottom line.
On the other hand, an inadequate or poorly-designed office space can have negative consequences, such as low employee morale and decreased productivity. It is essential to choose an office space that aligns with your company’s values and goals, that can accommodate your business needs as it grows and evolves.
One office trend for 2023 is already clear – flexibility is in fashion. In recent years, there has been a shift towards office rentals that provide greater flexibility, enabling companies to expand or downsize without entering into a fixed, long-term real estate agreement with significant overheads.
The Best Office Space Alternatives this Year
1. Private Office Space
Private office space refers to a dedicated, enclosed workspace that is exclusively used by a particular company or individual. It is an excellent option for businesses that require a more traditional and professional setting, as well as those that value privacy and want to establish a corporate identity. Private offices offer a range of clear advantages namely:
Customization: Private office spaces allow businesses to tailor their workspace to their specific needs and preferences. You can choose the layout, furniture, and design that best fits your brand and culture.
Privacy: One of the significant advantages of private office space is the ability to have a private and confidential environment for your business. This can be especially crucial for companies that handle sensitive data or require a quiet and focused setting.
Professional image: Private office spaces convey a professional image to clients and partners, which can be beneficial for businesses that rely on face-to-face interactions or need to make a good impression.
If you are considering private office space for your business, check out our private office space page for more information and available options.
3. Coworking Space
A coworking space refers to a shared workspace that is typically used by freelancers, entrepreneurs, and small businesses. It offers a flexible and cost-effective alternative to traditional office space and allows professionals to work alongside like-minded individuals in a collaborative and dynamic environment. Many companies today like to combine private office spaces with an adjacent coworking space like our Brooklyn coworking space to reap social and networking rewards. While a completely open-plan space doesn’t suit certain businesses dealing with confidential or sensitive information, or teams that require constant collaboration, it does offer a range of advantages for others:
Cost savings: Renting a coworking space in London or any other major city can be more affordable than leasing a traditional office, as it allows businesses to pay only for the space they need. At Mindspace our members share utilities and amenities such as Wi-Fi, printing, and coffee, as well as kitchens, lounges, meeting rooms and janitorial services, which can further reduce overhead costs. These are just some of the reasons to consider renting a fully furnished office space. As fuel prices surge around the world, companies are becoming more sensitive to rising costs, making the shared costs from a coworking arrangement the ideal solution.
Networking opportunities: Coworking spaces bring together a diverse community of professionals, providing opportunities for networking and collaboration. Interaction with other colleagues leads to knowledge sharing and friendship, two important parameters of work life. These interactions often extend beyond individual workspaces and can take place in dedicated event spaces in London and beyond or during informal gatherings in communal areas, fostering a sense of community and enabling valuable connections to thrive.
Flexibility: Coworking spaces offer flexible lease terms, allowing businesses to scale up or down as needed. This can be particularly useful for companies that are in the early stages of growth or have a fluctuating workload. More corporate companies are embracing a hybrid model of work and are also using coworking hubs or flex workspaces to accommodate employees when they come into the office for meetings, or aren’t working from home. The benefits of flexible workspaces, including this scalability and adaptability, make them a compelling choice for a wide range of organizations.
If you are interested in coworking space for your business, check out our workplace solutions for more information and available options.
3. Hot Desk
Hot desking, what is it? A hot desk is a shared workspace that is available on a first-come, first-served basis. It is an excellent option for businesses that need a flexible and cost-effective solution for occasional or part-time workspace. It’s also a popular choice for freelancers and solopreneurs that want an office environment without the overheads.
Some of the pros of hot desks include:
Affordability: The coworking industry is constantly innovating the monetization behind hotdesking. Mindspace, for example, offers a range of memberships, from daily passes and pay-as-you-go, to monthly subscriptions and multi-pass options, making hot desking in Shoreditch and other popular coworking hubs an affordable option.
Collaboration: Sharing an office space encourages sharing of ideas and perspectives with different people, which can have a positive impact on both innovation and employee wellbeing.
4. Customized Office Space
Rising demand for flex office spaces from larger companies has led some flex space providers, like Mindspace, to offer the option of more customized office solutions. This could be a private office or an entire floor. The client is involved in every step of the process – from scouting the location through to designing the space – according to the needs and brand of the company. There are some obvious benefits to a customized office space:
Fast delivery: As a turnkey solution delivered by experienced real estate and interior design specialists – this is the fastest way to create your ideal office space. Incorporated into an existing flex office or coworking building – companies can move in within a short time frame, and take advantage of the existing community amenities such as kitchens, lounges and yoga studios, which would normally take a long time to build.
No-hassle: No need to handle negotiations with real estate agents, interior designers and oversee building work over several months. A customized office space like our serviced offices in Hammersmith is delivered by the flex office provider, cutting out all the hassle.
Flexibility: As the company grows it is easy to rent additional rooms and spaces within the flex office framework. Likewise – in an economic downturn, the provider can renegotiate the space it needs.
Design: An experienced flex office provider can tailor the space to a company in a way that is beautiful, professional and in line with its brand. The company can skip the arduous process of hiring architects and interior designs and piggy-back on the design know-how and resources of the coworking company.
You can explore the customized spaces at Mindspace here.
Coworking Space vs Private Office
When it comes to choosing the right office space, it’s wise to consider the needs and preferences of you and your team, as well as your company culture and roadmap. Coworking space and private office space are two popular options, and each has its pros and cons.
Coworking space is a flexible and cost-effective solution that is suitable for small businesses and startups. Some of the advantages of coworking are collaborative and dynamic environment, as well as networking opportunities and a range of amenities. Private office space, on the other hand, is a more traditional and professional setting that is suitable for businesses that value privacy and want to establish a corporate identity. It allows for customization and conveys a professional image to clients and partners.
Other Alternative Office Spaces
The pressure to reduce a company’s carbon footprint and create a more sustainable workplace model is seeing a number of interesting office spaces emerge. Treehouses, forests, gardens and even jungles are now home to companies seeking to bring nature into the office and reduce fuel consumption.
As the trend for digital nomads grows stronger and people crave adventure but still require a comfortable place to work, we are seeing coworking hubs emerge inside hotels, on beaches, in shopping centers and community centers.
So, while private offices and coworking spaces might seem like the more typical alternatives and choice to make today, the world of work is evolving and producing ever more imaginative, eye-catching and alternative workplaces, including virtual offices.
At Mindspace we offer a wide range of flex office space for companies of all sizes – from private offices and fully customized spaces, to hot desks and coworking spaces such as Williamsburg coworking spaces. Often companies choose one of our hybrid solutions that combines a private office as well as a coworking space for the best of both worlds.
As the demand for flexible work arrangements grows, it’s important to consider the reasons for a satellite office or any other type of office, including the benefits of working remotely from another country. Satellite offices, for example, not only provide flexibility but also offer global connectivity, allowing businesses to tap into a wider talent pool and collaborate with professionals from different locations. They provide a versatile solution that embraces the evolving nature of work and caters to the needs of modern professionals.
We also understand that every business has unique requirements, which is why we offer tailored solutions that meet your specific needs in a variety of locations, such as our flex office space in Philadelphia or team suites in London.
If you’re interested in learning more, we’d love to discuss your company’s needs and how we can provide the perfect, alternative office space for you.
Contact our team here to discuss this further.