What is a Shared Office Space? The Complete Office Guide

Flexible workspaces have never been more popular. Even though back-to-work mandates are seeing a considerable number of people move back to the office, an appetite for hybrid and remote work remains. For employees and freelancers, flexible offices offer access to premium facilities and a chance to network and collaborate, while employers have the perfect base to host hybrid teams.

Ready to learn more about shared office spaces, how they work, and how they can benefit you professionally? Read on for everything you need to know. 

What is a Shared Office Space?

Essentially, a shared office space is a workspace that’s intended to be utilized by more than one person. A coworking space may have dozens, if not hundreds, of individual freelancers working alongside each other in an open-plan interior. Others may include suites for project teams or private offices for startups.

Far more flexible than traditional office leases, coworking spaces offer users a host of benefits that might ordinarily be out of their price range. While dedicated desks, private suites, and dedicated offices can be hired for actual work, additional facilities like meeting rooms and event spaces are also available. These are shared facilities, with space users requesting the use of them as and when required.

Coworking spaces are incredibly flexible, with a range of membership options to choose from. Those on a budget can choose the occasional day pass or virtual office services. Meanwhile, those with money to play with can choose monthly subscriptions or the rental of a larger suite set apart from open-plan coworking spaces.

Because there are no upfront costs with a coworking space, they tend to prove one of the more cost-effective alternatives to standard offices. Things like utilities are included in the price, while you won’t have to worry about furnishing your new workspace or relocating existing infrastructure from A to B.

What are the benefits of a Shared Office Space?

There are many reasons to consider using a shared office space. From affordability to networking opportunities and flexible terms to access to first-rate facilities, a typical shared office space comes loaded with perks.

Cost Efficiency

In the commercial office real estate market, asking prices for square footage can be astronomical. Shared spaces like coworking locations are a far more affordable alternative to traditional office leases. There are no upfront costs to worry about, while you won’t be unpleasantly surprised by hidden fees.

Networking Opportunities

Networking isn’t really possible when you’re sitting in the same office with the same people day in, day out. With a shared coworking space, you get to rub shoulders with professionals from all walks of life and boasting all manner of vocations. Shared spaces encourage users to connect, fostering collaboration and allowing individuals and businesses to pursue new opportunities.

Flexibility and Scalability

It’s great when a business hits the ground running. However, a meteoric rise to the top can quickly render an office setup obsolete. Sadly, too many successful companies are forced to continue using subpar workspaces for far longer than they’d like because of restrictive contractual agreements. With a shared coworking space, you won’t have to deal with traditional leases ever again. If you need more space to accommodate more employees, you can readily upgrade and expand your space, making shared spares incredibly scalable.

Amenities and Services

Establishing yourself as a freelancer or setting up shop as a startup can be an expensive venture. If you’ve secured a workspace with a conventional lease, you might also find yourself in a situation where essential amenities and services aren’t available. With shared spaces, you don’t have to worry about this. Every user benefits from things like high-speed internet connections, access to meeting rooms, use of kitchen facilities, administrative support, and more.

Work-Life Balance

For freelancers, digital nomads, and remote workers, it’s easy to feel disconnected from the rest of the world. As well as being an altogether lonelier way to earn a living, these working models aren’t the most conducive to a healthy work-life balance. Using a shared coworking venue helps you resolve this, providing you with a dedicated workspace that helps keep your private and professional lives separate.

Let’s explain: How Do Shared Office Spaces Work?

Shared office spaces can take a variety of forms, but a typical example might be an open-plan space with dozens of workspaces, accompanied by smaller team suites and a selection of private offices. Each of these is reserved for specific individuals or companies, who all enjoy access to shared facilities like meeting rooms and communal areas.

To rent a shared office space, would-be users only need to find a provider and make a booking. Day passes and monthly subscriptions to use such spaces can usually be completed online. However, if you’re looking to rent a private office or shared suite, you may have to meet with your coworking provider to discuss your specific requirements in more detail.

Shared office spaces also bring a community feel to working. Regular events like workshops, knowledge-sharing classes, and mixers make shared office spaces the only choice for professionals looking to network. Meanwhile, you’ll also find plenty of mentorship opportunities offered by shared office providers, allowing you to upskill quickly.

Who Can Benefit from Shared Office Spaces?

Cost-effective and flexible, shared office spaces are a convenient alternative to traditional offices and other types of workspace. They’re also universal in their benefits, serving everyone from the freelancer to the established enterprise alike.

Startups

Startups are one demographic particularly well served by shared office spaces. Relatively inexpensive compared to other solutions, coworking spaces also help companies grow from small brands to big businesses. Shared office spaces are scalable, an essential for ever-expanding startups, while networking events make it easy to secure new opportunities.

Freelancers and Remote Workers

Remote workers and freelancers don’t have it as easy as you might think. Working remotely has many benefits, but there are also many drawbacks to consider, like impaired productivity and countless distractions on any given day. There’s also a complete lack of must-have business facilities like meeting room access.

Shared spaces provide remote workers and freelancers structure, helping them sharpen focus and improve productivity. Space users also benefit from access to shared amenities, while the appeal of becoming part of a wider professional community is hard to resist. If it’s your first time using shared office space, make sure you’re fully clued up on the dos and don’ts before your first day in your new surroundings.

Small Businesses and Growing Teams

Shared offices are also well suited to small businesses with an eye on growth. More success brings with it more clients and increased workloads, necessitating the need for larger premises. With a regular office, you’d need to see out the duration of your lease before being able to upscale to a more suitable space. With a coworking provider, you can simply request an upgrade with more space and facilities to accommodate a growing team.

Corporations

Even large-scale companies and corporations can benefit from shared offices like coworking spaces. While they don’t make a practical corporate headquarters, coworking spaces are something to consider if you’re thinking about branching out and are considering options for satellite offices. With flexible terms, lower overall costs, and scalability in spades, coworking spaces can help businesses achieve real growth very quickly.

How to Choose the Right Shared Office Space

When choosing a shared office space, all the usual applies if you’re serious about securing a dream workspace. Location is critically important, with a space situated in a prime location far more likely to promote growth. What’s more, a central location makes it easier for visiting clients and collaborators to find you, while your team is well taken care of thanks to excellent public transport links.

While coworking spaces like shared offices are generally cheaper than traditional ones, costs can vary considerably. Most shared offices don’t come with hidden costs or upfront fees, so you’ll need to use existing price lists as your guideline. Hot desks might seem like an affordable solution for a small team, but if you were looking for a workspace to position half a dozen people, a team suite could prove more affordable, especially in the short term.

Every shared office will include an area with workstations, but most also come with a host of different amenities. High-speed internet connectivity, business printing services, and meeting room access are just a few of the amenities you’ll want to look out for when selecting the perfect place for your business.

If you love nothing more than to connect professionally, go with a shared office provider that encourages collaboration and community with networking mixers and other events. As well as providing you with a chance to identify new opportunities, these events help create a sense of community that binds all space users together.

Shared offices also win out when it comes to flexibility. Here, you won’t be locked into an expensive long-term lease and can choose to upscale to larger premises if your team suddenly grows. This simply isn’t possible when you lease a standard office.

Popular Shared Office Space Providers

The coworking sector has exploded in recent years, with many major cities boasting dozens of coworking spaces in their own right. With such an appetite for coworking spaces, it’s little wonder that many companies have risen to the call, offering an impressive selection of locations across the globe.

🥇 Mindspace – The Boutique, Premium Global Choice

Why it’s superior:
Mindspace blends high-end interior design, art, and a hospitality feel, making it perfect for companies that value both prestige and community. It operates in prime, stylish locations globally, serving startups to enterprises seeking an inspiring yet professional environment.

Alternative, but Less Premium

Can’t decide on a coworking space? Rather than be guided by price alone, consider other key factors first. Do you need to be located in a central zip code that’s easy to get to? Coworking spaces in areas like Central Business Districts and financial districts are worth looking into. Do you anticipate significant growth over the next 12 months? Make sure you’re choosing a coworking provider that offers scalable solutions.

Superior Shared Office Spaces from Mindspace

If you’re thinking about an office relocation, it’s definitely time to get acquainted with shared spaces. A cost-effective alternative to the standard office lease, these flexible workspaces are designed with collaboration in mind, while most providers also offer a packed schedule of networking events, workshops, and more.

Shared office spaces are also scalable, meaning you never have to worry about working in subpar surroundings ever again. Furthermore, you won’t struggle to find a coworking space in your desired location. Coworking is on the rise, with an increasing number of central locations and a steady influx of so-called hyperlocal coworking spaces.

Ready to realize the benefits of shared offices and coworking for yourself? At Mindspace, we offer an incredible range of coworking spaces, with locations in some of the most cosmopolitan cities in the world.

You’ll find everything from hot desks to private offices at our coworking venues, while access to a full slate of amenities and mod cons comes as standard. Not sure you’re ready to commit to a monthly subscription or a long-term arrangement. Not to worry. You can always take out a day pass to enjoy access to one of our locations and see how things work for yourself.

Looking to learn more? Why not check out our full list of workspace solutions online? Do you have a question? Get in touch with the Mindspace team today.