When you want to expand your business and would like to find a professional space where you can operate, two of the main options available are serviced office space and coworking space. Both of these setups have advantages and disadvantages so you should carefully assess your needs to identify which arrangement is more ideal for your needs.
To help you in making a decision on which office arrangement to choose, it is important to understand what they can offer and what their differences are.
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What is a Serviced Office Space?
Serviced offices, also known as managed offices or shared offices are fully furnished and equipped office spaces that are ready for your immediate use. It means that you can readily move in and start your business operations without the hassle of setting up everything from scratch. Depending on the space available, a serviced office can hold small or bigger teams and organizations.
More often, serviced offices already include conference rooms, meeting rooms, cubicles, furniture, office equipment, reception services, mail services and utilities such as phone and internet. Cleaning and maintenance services are also typically included in the contract.
Advantages
- Desirable office location as they are usually located in business centers
- Lower cost than renting a regular office space and running it
- Flexible contracts
- No complex setup needed to start operations
- Maintenance and cleaning are taken care of
- Comes with administrative support
- You maintain privacy
Disadvantages
- Limited control over shared spaces such as meeting rooms
What is a Coworking Space?
Coworking spaces are a popular choice among freelancers, small teams and small businesses who are looking for a more flexible working environment. In a coworking arrangement, you can rent a single desk or a private office for individuals or groups.
Generally, if you rent a coworking space, you will have access to communal spaces such as lounges, recreational spaces, kitchen and event spaces. You could also book a meeting room for your team.
A community manager runs the entire space, and can readily assist if you have technical issues and similar problems.
Advantages
- Ultimate flexibility, you can come and go as you please
- Low cost because you will be sharing the space with other teams or individuals
- Designed to be highly social
Disadvantages
- Little to no privacy
- Competition when it comes to access to meeting rooms and other common spaces
- You have little to no control over the office environment
Looking at how office spaces and coworking spaces are set up, we can conclude that those two differ in certain areas:
1. Workspace Layout
Depending on the number of people in your organization, you can rent a room or an entire floor for your business. Many serviced offices are compartmentalized so it is common to find cubicles and private offices in a serviced office environment. While you don’t have control over the layout of the common areas, you can customize your rented space to suit your needs.
On the other hand, in a coworking space, the layout is typically an open space, allowing for easy social interaction and collaboration with others. If you are renting a dedicated desk or a hot desk, you may have little to no control over the layout of your space.
2. Ambiance
In a serviced office space, the ambiance is more professional or corporate. Team members can easily collaborate, and at the same time are able to have their own space where they could focus on their work.
It’s slightly different in a coworking space where the ambiance is more casual or relaxed. This is to encourage collaboration and social activities.
3. Culture
Many coworking spaces have a distinct culture exuding the entrepreneurial spirit. More often, there is a community manager that is in charge of onboarding new people, and they have a goal of preserving the space’s particular culture to encourage more member engagement. These managers may conduct activities such as cocktails and community luncheons on a regular basis.
In a shared office space, people may have different backgrounds and may not necessarily share the same cultural interest.
Identifying the Best Office Space for You
Both serviced offices and coworking spaces are a great option if you want to transition from your remote office to a physical location. Choosing the right office space allows you to enjoy the advantages each working environment can offer.
Choosing the best office space is not easy with so many options available. To help you make an informed decision, you could ask yourself the following questions:
- Would you prefer a shared working space for collaboration and networking, or would you rather have a private space?
- How much space do you need now, and do you see your business growing in the next couple of years?
- What kind of facilities do you need?
- Would you like a space to keep your information safe and confidential?
- How much are you willing to spend?
Once you have answers to these questions, you can then easily pick the right office space for your business.
Whether you are looking to lease a serviced office or a hot desk, at Mint Worklounge, we have a solution for you. Our services already include free Wifi, mail and phone handling services, and a professional phone number. We also have a cozy common area where everyone can mingle and collaborate. Other amenities include a parking area and private meeting rooms. We also put utmost importance on security. That is why we have 24/7 CCTV and guards on duty. On top of that, you’ll get a prestigious address in Bangkok.
Your choice of office space can have a significant impact on your business’s success. You need to carefully weigh your options before making a decision.
