The different types of Shared Office Space

Author: abhishekkumar | Posted: 27.05.2012

The trend of a shared office space has been on the rise in the last few years. Young entrepreneurs have found a liking to the idea of sharing their start-up dreams with others in the same domain. The cost effective quotient is definitely what attracts young CEOs to this creative workplace solution. But contrary to what most think, within this realm too, there are quite a few options to explore.

Here are the different types of shared office solutions that you could choose from, depending on the availability and what suits you best:

A standard shared space

This is the standard arrangement which most start-ups and small businesses go for. You get to have space in another business’ workplace. Start-ups and small businesses which require frequent access to phones or conference areas benefit the most from this kind of arrangement. The rental charged depends on the number of workstations you require as well as other shared services such as a receptionist etc. However, usually, the rental includes charges for use of common services such as water and electricity.

Incubation center

This is a kind of mentorship program where you get to share space with more than one start-up. Generally, incubation centers are available for start-ups in technology sector or those related to light manufacturing industries. You are given the space for a few years until you reach a sustainable level. In that sense, an incubation center is a handholding solution given to start-ups. Since it is handholding, rentals charged are very nominal, and you are given prompt access to business related services including managerial mentorship. However, the catch is, getting an incubation center isn’t an easy task. You have to fight it out with hundreds of other start-ups looking for the same.

Executive Suites

If you have some money to spare, this is the most professional kind of shared office space arrangement. It involves renting a space by the number of hours, days or months, depending on your convenience. Executive suites are located in prime business locations, such as New York City Center, and there are virtual office plans available too. A virtual office space is a virtual business address you get for your organization, with services such as conference rooms, mail forwarding and call handling on demand.

If you are someone who could benefit from a prestigious office address, this office space solution could work best for you in the initial stages. It lets you keep your start-up costs relatively to a minimal while giving you access to prime business locations in your city.

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