Shared Offices Vs Private Offices

Shared offices have been booming to meet the demand of growing start-ups and SMEs requiring flexible working spaces. Some of the benefits of having a shared office space are obvious, while the opposite reasons may be beneficial reasons for having a private office. We compare the advantages and disadvantages of having a shared office to a private office in London.

Shared Office Advantages

Shared costs

Shared space means shared amenities, receptionist, utilities, overhead bills, maintenance and cleaning services with other companies. That can be a huge relief for start-ups that do not have the cash flow for hidden fees or other insurance payments. It can be convenient to only have to worry about your own computer/laptop or supplies and paying just that one membership fee.

Flexibility

A simple monthly-basis membership plan could be beneficial for growing businesses that may need the flexibility to relocate. A changing business growing in numbers or fluctuating can simply reserve more or less desks in a shared office.

Networking

Networking - Entrepreneurs and start-ups know too well that networking is the most important activity that could be the best investment or death of their business. Getting to know the right people or simply having the opportunity to pitch to more faces can be crucial. A shared office building offers plenty of networking opportunities.

...Disadvantages of shared offices

Distractions

Coffee breaks can be great to meet new people and share a little about what you do, however, this can often become a much longer break than the anticipated quick hot drink errand. You might not even be standing up; open workspaces make it easier for people to approach you and hinder your productivity. It can be great to collaborate with another company, but it can be difficult to draw the line when you feel more incline to help out overtime because you are stuck in the same office with those other businesses.

Comfort limitations

You certainly are paying for that workspace, but you cannot customise it. Most shared offices are furnished and have rules to follow. The air conditioning will be pre-set, and it would be noise pollution to blast your own music. There could be queues for window views and your favourite seat constantly occupied when you want it. Less freedoms could be huge deal breakers in the end.

More people, more mess

Sharing a kitchen and bathroom can be annoying for one company’s employees but imagine sharing those with lots of other companies’ employees. There can be too many horrific experiences having to bypass messes left behind by strangers. Sure, there is a cleaner coming by but not regularly enough for the amount of people coming in and out throughout a day. On the note of messes magnifying, illness spreads faster in open shared offices too. One person can increase the number of sick days for the majority of others in the shared space.

The advantages of private offices

Privacy is in the name

No distractions or intrusions from outsiders. Your workspace would be exclusively for all your business matters and allow you to focus all day. You also, won’t have to worry about outsiders or competition spying on your work. It can also feel more secure in your own space, and less stressful if you ever worry about people swiping your belongings.

Impress clients

If your business is client facing, you could proudly host meetings at any time. No need to book or request meeting at the client’s office instead. Your office décor can match your brand’s personality and any awards or product examples could be on display to impress your clients.

Company culture

You colleagues and employees will feel more grounded in the company when they are able to relate the physical sense of the company to a lovely private office space. The bond to the company and between colleagues will be heightened by company branding around the building, ownership of the assets and allocation of private workspaces.

...Disadvantages of private offices

Upfront costs

There can be numerous upfront costs to buying or renting a private office depending on the state of the property, location and whether there is an estate agency is involved. The number of factors to consider can be overwhelming without seeking advice.

Commitment

Signing a contact is big commitment and your business will need to have financial stability. Obvious points aside, what if the location does not suit you in the future? Private offices will not suit start-ups or small business in fast pace industries that will need to accommodate additional employees.

Other barriers

There might be physical walls blocking workflow communication if the flooring plan makes colleagues less approachable. Depending on the services you offer, a closed office plan could be hindering creativity and operational workflow.

Corinthian House offers private offices with bright naturally lit, open floors and pre-installed kitchens that can accommodate SMEs. With great amenities including high speed fibre Internet, new modern air-conditioning systems, locker rooms and showers there are many advantages your company could benefit from at our business centre in the heart of East Croydon. Contact us today for more information on our new full repairing and insuring leases which are offered directly from the freeholder.