Sharing an Office Space with Other Companies: Practical for New Businesses

Sharing an Office Space with Other Companies: Practical for New Businesses

With an office space, you can meet with your clients, organize meetings, and supervise your employees. However, if you are just establishing your business, owning an office space can be a very huge expense. Hence, a good option would be having a shared office space. A shared office space is much like a standard office environment. The only difference is that there are other professionals or companies that share the office space with you. If you choose to purchase a shared office space for your business, you may want to take the following into consideration.

Location. As with any business, venue portrays a very significant factor. For example, if your shared office space is located in far locations, clients would have a hard time reaching you. Apart from that, you have to consider if the site is beneficial to your staff. Will they have a difficult time commuting to work? Bear in mind, a good working environment can help enhance your employees’ productivity.

Cost. As you are only starting out in your business, a large office space is out of the subject. Typically, the bigger the office space, the greater rent you need to pay. If you don’t want a lot of space for your shared office, think of renting one that can serve your workers and the other occupants. It would be sensible to compare different costs from various buildings to know how much you can pay for the shared office.

Occupants. One of the most important aspects when selecting a shared DC meeting space is the occupants who share the space with your company. The best way to do is to look for businesses that would match with your business. This can be a good option for future collaborations and referrals. For example, you can partition the office space with a law firm who can aid you in your legal transactions. Another factor in choosing a co-tenant would be the size of the company. Surely, all of you don’t want to be stuffed in a small office space.

Services. Select a shared meeting space Washington DC can offer with services that benefit you and the other occupants. The shared office space must be furnished with business equipment like fax machines, telephones, and photocopying machines. You should also check for mail and delivery services available in the building.

Duration of the Contract. In most instances, a contract for a shared Washington DC meeting space often lasts for at least 3 months and ten years, at most. It is advisable to evaluate the contract prior to leasing a shared office. Doing this will help you understand the requirements and prevent breach of contract.

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