This article is sponsored by Send Business Centre a serviced office and storage facilitator in Surrey.
Finding the right work space can be confusing and frustrating.
There are now several options available to startups and entrepreneurs and we’ve done our best to aggregate a ton of information about the different types available so you don’t have to.
The hard part to finding the perfect office space is making sure it’s suited to your specific needs and your goals for the future.
We’ve used a number of factors to show you what the main differences are, but you should note, faster and cheaper are not always better as we’ll show you below:
Set up speed
Work spaces with shorter lease lengths tend to have the fastest setup speeds for internet connection and other services. Although there will be less option/flexibility to customise and tailor the services to your specific needs.
Naturally the shorter the lease length, the more flexibility it will give you to move your work location around. But this also means you will have to carry around your business on your back and it will be more expensive in the longer term.
The shorter the lease, the less flexibility/customisation there will be and also less space/time will generally be available for business meetings. Meeting space and time available can vary wildly from place to place, as it depends on the types of businesses using the space, but generally demand will be higher if there are more individual businesses working there.
Again the shorter the lease, tends to mean less options/customisation available. This also tends to be based on their location too. For example, a work space in city centres will have less amenities as there is more around them. You can expect them all to give you some form of internet connection so I’m not going to mention that, but speeds & bandwidth vary.
This can fluctuate a lot depending on location and demand. Generally shorter leases will be more expensive per day but mean less money is needed up front. Also be careful about extra service add ons as these can add up quickly.
Types of work space
Co-working is a style of work that involves a shared working environment, yet independent activity. Unlike the typical office environment, a co-working space is generally shared by individuals from different organisations and professions.
Co-working is becoming more popular with freelancers and solo entrepreneurs interested in leading a more location independent or nomadic lifestyle.
Check out sharedesk.net to find a variety of different price options in different locations.
- Set up speed: Shortest (a couple of minutes at most)
- Lease length: From a couple of hours +
- Layout options: There aren’t many options here, there will typically be space for your laptop, bookable meeting rooms and possibly bean bags.
- Amenities: Typically include small kitchen areas with microwave, fridge and most importantly coffee. Toilets. Printing, scanning services and office supplies are usually available at an extra cost.
- Price: Some Startup Accelerators and Incubators are located inside co-working spaces where they have hired out an area so they can help you work there for free, but there are application processes to get in.
Serviced offices are the next level up from co-working spaces. They provide a more permanent solution but still within a shared working environment and typically can allow you to add or take away desk space as and when you need it for expanding or even shrinking your employment count.
- Set up speed: Generally just as quick as Co-working spaces to get up and running, maybe a few extra contracts to sign for lease lengths.
- Lease length: Typically 3 or 6 months minimum
- Layout options: They give each user significantly more space to work within and the ability to grow your team around you.
- Amenities: All the services mentioned in the co-working space section above and in addition can include reception and telephone answering services, secretarial support, conference, meeting facilities and even storage space.
- Price: In London for example prices vary from around £200 (Brixton) – 600 (average £515).
Shared office space
Shared office space is again the next level up in flexibility and size from serviced offices.
Growth can be difficult to plan for, so you typically end up buying more office space than you need, which costs extra money that could be going towards growing your team or development.
Shared office space helps as the lease length is still reasonably short which can allow your business to move quickly.
Check out pivotdesk.com a relatively new startup that focuses on finding businesses looking for people to share their office space with.
- Set up speed: This takes a bit longer, tours need to be scheduled and both businesses need to feel comfortable working around each other first before any deals are settled.
- Lease length: On pivotdesk it’s 30 days but this can vary depending on the business.
- Layout options: They give each user significantly more space to work within and you have the ability to get more creative with the space too.
- Amenities: This really depends on the business you’re planning on sharing with and the terms agreed on. However you don’t need to share everything, having a shared office allows you more freedom to choose what your business specifically needs.
- Price: You’ll find a range of prices and locations in the US currently on pivotdesk( $350 per person per month inside TechStars Seattle to $1000+ in NYC) which should give you a general idea of the price range.
Private office space
The top tier of the office spaces with the ultimate level of flexibility, customisation and control.
You can make the rules and you now can truly be creative with the space, show off your company’s culture. You can even paint the walls!
- Set up speed: By far the longest.
- Lease length: Typically 2-3 years minimum.
- Layout options: The possibilities are endless!….well… within your space of course.
- Amenities: You choose.
- Price: Again this is much like renting a house, very much location, size and the amenities around you dependent. Eg. London near financial district 13 desk office is £5,500 per month.
If you enjoyed this article and think others will too consider sharing it with your friends and followers and if you’re an entrepreneur looking for a serviced office near London be sure to check out sendbusinesscentre.co.uk
The Send Business Centre is within easy travelling distance from the major London airports; Gatwick (31 miles) and Heathrow (18 miles)