Many companies are rightly fearful of entering into different lease agreements for office space given the financial commitment involved. Many office leases are for long periods of time and require a business to commit to a long term horizon of expenses. For companies that are expected to remain stable this can be a good idea as it creates a base office from which the company can be based in. In addition, it helps them to avoid those costs associated with moving offices and building up a new office. However, it makes it challenging to find the right sized space for your business. Your office space needs now may b very different than your spacing needs five years from now before your office lease expires. Many companies will therefore commit to a larger space than they need to anticipate growth only to find themselves with excess office space that they no longer need.
Smaller companies will sometimes try to save money on costs for office space by having employees work from home or to choose office space that is not located near concentrations of businesses and other key services. Often this works against these small businesses who find themselves unable to hire and retain key employees who want to work near the major transportation hubs.
For large companies that want to lower their office costs and small businesses who are looking to obtain more prime located office spaces, shared offices often make a great deal of sense.
Shared office spaces like the coworking office Workville has in Midtown Manhattan are often located in areas near major transit li Penn Station and Grand Central. The areas the choose are strategically located as Workville is by Bryant Park and Times Square and is attractive to employees and customers who need to visit their office. Further, employees are better able to work when they are out of their homes and not susceptible to the typical distractions that they often find themselves falling into when working from their living room.
Employees and businesses can better network in these shared office space environments and many tenants in shared office spaces find themselves adding revenue and growth opportunities from their co-tenants in these shared office spaces. Finally, shared office spaces like the midtown Workville office are decorated in an attractive way and with the modern services and convenience of a professional office that allows for more efficient services and better overall cost structures.