In the past, when someone wanted to set up a business, they had two choices. You either worked from home or you rented or purchased workspace for yourself.
Now, there’s a third option. Shared office space in Grapevine allows you to get many of the benefits of working in an office but with fewer hassles. It’s a great way to save money, network with others, and keep your home and work life separate.
But if you’re looking for shared office space, you need to be aware of a few things first. We want to help you find shared office space for rent that helps you become more successful.
Keep reading to learn what to look for when you’re considering office sharing.
Consider What Type of Shared Office Space in Grapevine is Best for Your Business
As you take a look around at the office rental places, you’ll notice that most are designed to cater to specific types of businesses. As a result, each space will have a different energy and culture.
Office sharing isn’t just about getting your work done. It’s about setting yourself up in a place where you can expand your network. If you’re an interior designer, sharing office space with app developers or criminal lawyers won’t be such a great fit.
Instead, if you’re an interior designer, it makes more sense to find shared office space for rent with professionals who are architects, real estate agents, and even other interior designers.
Professionals with similar or overlapping occupations can help you expand your network and brainstorm without even having to leave your office.
Look for an office rental that allows you to be highly productive. Determine what conditions you work best in. Some people thrive in a high-energy atmosphere where others prefer more peace and quiet.
Choose a Location That’s Convenient
There are some professions where it doesn’t really matter where you are located like writing. You can do it from anywhere and it usually doesn’t matter. But for many other professions, location is everything.
If you’re an attorney, finding shared office space for rent near the courthouse makes a lot of sense. You’ll find you can boost your billable hours because your commute is so much shorter.
Try to find a shared office space for rent that’s in a location where it’s easy for your client’s to find you. You may want to consider an office space that’s nearby a parking lot or parking garage.
Another consideration when looking at shared office space is to see if the office provider offers other locations for you to use.
If you travel a lot, having a place you can use while you’re traveling means more productivity and financial success rather than unused downtime.
Know What You’re Signing Up For
Office sharing may not be a great solution if you require absolute quiet. One of the major benefits of sharing office space is the community of professionals you get to join.
However, that community also means extra noise. It also means more social engagements like networking events, social events, and community interactions. For many business owners, especially ones just getting started, this social aspect that’s built-in to the shared office space is a huge boon.
If you’re an introvert, you may not enjoy this type of experience. You may find it stressful, distracting, and exhausting. Before you sign up, ask about what types of regular activities your office space offers.
And beware as some of these events come with a required attendance for every person renting the office space. Your schedule may not allow for you to meet those requirements.
Also, if you do enjoy social interactions, but also have times when you’ll need a quiet space to work in, find out if they have quiet areas where you can go to get away from the hubbub.
It’s important to determine how you work best before you sign your lease.
Consider How Much You Expect Your Business With Grow Over the Next Five Years
If you’re just starting out in your career, you may envision that within five years you’ll grow from a solo-entrepreneur into an entrepreneur with 10 employees. Maybe you want to add on a partner and hire a few employees in the future.
Perhaps your plan is to keep things simple and outsource any help you need. Then there are those people who are thinking of retiring in the next few years or who plan to change careers.
If you have any plans to change how you do business within the next two to five years, you’ll want to find an office rental that offers you the flexibility to grow or contract your business when you need to.
Having to constantly find new office space is not only time consuming, but it’s also expensive. Make sure you find a shared office space for rent where there’s flexibility to change when you need to.
Create a Budget So You Know What You Can Afford
Who you surround yourself with will make a difference in how successful you are. But where you work will also affect your success.
Yes, you should always develop a budget to see how much you can afford to spend on your office space. However, you should also consider opting for a nicer office rental that’s a little bit more expensive.
By stretching yourself rather than playing it safe, there’s a good chance that your risk will pay off and your business will grow more rapidly. What you see every day makes a difference.
if you’re in a cramped office space that’s in okay or in kind of a shabby condition, it’s less likely you’ll feel inspired to aim higher. Instead, those kinds of environments tend to get most of us stuck.
Try reaching for the stars and put yourself in an office space that puts you a little outside your comfort zone. Obviously stay within a reasonable budget, but you’ll probably surprise yourself at how easily you find a way to pay the extra expense.
Look For Shared Office Space With Great Amenities
The great part about shared office space for rent is that it usually comes with some great amenities you wouldn’t normally have access to if you just rented your own space.
That includes making sure there is space to entertain your clients, quiet space, and whether there’s an area available for collaboration. Some spaces even offer access to support staff to help you do research or handle administrative tasks.
While this is highly beneficial to many business owners, these extra services may come with additional fees.
Understanding what you have access to based on your contract helps you to adjust and maximize what you’ll pay.
Ask If There Are Any Additional Fees
Before you sign your contract, ask if there are any additional fees you may not be aware of. It’s possible you might be charged for using extra bandwidth.
They may charge you if you require the use of additional rooms or even if you want to access your office at night. Ask before you sign so you don’t end up with a much higher bill than you were expecting.
Read And Understand Your Lease Terms
Shared office space is great but only if you understand your lease terms before you sign anything. Many shared offices offer a one-year lease. Others offer shorter terms.
If you’re not 100% sold on the space, ask to see if they offer shorter trials to see if the shared office space environment will work for you. While it’s not always an option, it can’t hurt to ask.
Make sure you read the entire lease and fully understand all the policies – especially those additional and often hidden fees we just warned you about. See if there are any penalties associated if you need to break your lease sooner than expected.
Look For Office Space That Offers The Types Of Services Your Business Requires
After you have determined your budget, it’s time to think about the additional services your business needs within your shared office space. Usually, these types of services are things like access to a kitchen pantry, phone service, internet, copy machines, HVAC cleaning, and reception services.
You may find that either you can’t find a shared office space that offers everything you need in your area or, you don’t have the budget just yet to afford all the services you need.
If that happens, break down your needs into three categories:
1. Services you can’t do business without
2. Services you’d like to have but don’t absolutely need
3. Services you don’t need/want
If you have to pay for some of these services out of your own pocket in addition to your monthly rent, take that into consideration when determining your budget.
See If Free Perks Are Offered
Sometimes shared office space for rent comes with free perks such as free tea and coffee. Others even go so far as to offer gym areas, lunch areas, and outdoor areas. Even free beer is a possibility.
However, all of that stuff is usually included with your rent, which means the rent is higher than it will be at other office shares. If you’re someone who would end up spending at least half your day in Starbucks getting your next fix, these free perks are definitely worth it.
If you’re more the type to bring your own lunch and you only drink water, you already have a gym membership, and you don’t like beer, then these amenities are a waste of your money.
One free perk nearly every shared office space provides is free internet. While this is a great and necessary perk, the owner may not want to pay for the type of internet service you require.
The worst thing you can do is get into a shared office space environment where the bandwidth is so low that you spend half your day waiting to get on a website. Not only will it decrease your productivity, but it may also drive you crazy.
Ask About 24/7 Access To The Shared Office Space
Not everyone works from 9-5. There are certain industries where a professional tends to work earlier or later hours. Then there are those people who always end up working long hours because they’re so busy.
If you’re one of those people who will require access to your office rental 24/7, you’ll need to find a shared office space for rent that grants you access at all hours. There are some that close in the evening and won’t allow you access.
Make sure you fully understand when and how you can access your office space.
Make Sure There’s Security Offered At Your Office Rental
While those who share your office space aren’t likely to steal anything from you, it’s still a possibility. Also, if there are a lot of people coming into the shared office space to visit the other companies, it increases the possibility of thefts occurring.
Make sure you understand fully who has access to the office space. You should be able to leave your files and computer in your office and arrive the next morning to see everything is safe and intact.
Also, if you plan on entering the building before or after regular working hours, you want to make sure you’ll be safe if you’re by yourself. Ask what types of security measures are being taken.
And while you’re at it, cybersecurity should be a primary concern for all business owners. Make sure the internet is safe and secure for all users.
Find Your Office Space With Us
Now that you know what to look for in shared office space in Grapevine, it’s time to start your search. We can help.
Contact us today to find the perfect workspace environment for you and your company.