For many growing businesses looking for short-term or month-to-month office space, coworking appears to be the only option.
The reason? There are a few:
#1: Smaller spaces (under 3K square feet) are extremely difficult to come by — in fact, NYC is at an all time low for that type of inventory with no sign of improving
#2: When you do find a space, they require long term commitments that put you at risk of growing out of your space early and having to break your lease — or, signing a lease you can grow into but having to afford the full cost when you’re only using a portion of it to start
#3: Commercial Real Estate brokers are hesitant to work on smaller deals, meaning most startups and growing teams are turned away and advised to look into coworking or executive suites
The search for space is particularly rough for growing businesses, and while coworking spaces like WeWork and executive suite companies like Regus can be excellent short-term solutions, companies in need of flexible office space need not think those are their only option.
Enter, office sharing.
Office sharing allows growing businesses to take full advantage of a formal office space without the risks associated with signing a traditional lease. It puts great space back on the table no matter your stage of business.
Coworking spaces provide a collaborative atmosphere, surrounding you with events and networking opportunities at all hours of the day and night. For this reason, you should be comfortable sharing space with a variety of work styles and cultures. Office sharing, provides more of a customizable experience, allowing you to choose your own space in an office atmosphere that works for you.
While some may be hesitant to share space with another company, the reality is that office sharing can be hugely beneficial to both guest company and host company…in fact, it might even surprise you.
The Top 10 Surprising Realities of Office Sharing:
#1: It’s personal. PivotDesk is not a one-size fits all solution. You get to choose your neighborhood, price range, culture and office type to fit your company’s unique needs. Custom search options allow you to find what you’re looking for online first, so you don’t waste time touring spaces that don’t fit the bill.
#2: It’s simple. By completing your booking online, there’s no need to meet with lawyers, brokers or landlords. Your PivotDesk dashboard allows you to quickly check on payment dates, change team size and view contracts from anywhere.
#3: You CAN have a private office. While some companies thrive on the energy of an open work environment, some still need the focus that comes with privacy. PivotDesk has hundreds of private office options all over the city.
#4: It can feel like home. Office sharing gives you more than just a place to put your laptop. It gives your business a home. And we believe that finding a home for your office SHOULDN’T mean risking your financial security.
#5: It can help you build an office culture. By hand selecting the company or companies you work alongside, you have control over the company you keep. You can leverage their culture to ignite your own – especially if you’re a small team.
#6: It’s stable. While we never force our customers into long-term contracts, the average booking lasts 5+ months. With the flexibility to add team members as needed, many guests find long-term homes with their hosts.
#7: It can help you network. Leaving your coworking space doesn’t mean an end to constant networking opportunities. In fact, it can even lead to better quality networking since you’ll be choosing the companies you hobnob with, rather than being placed in an ever changing fishbowl. We’ve got tons of examples of companies collaborating on projects or finding new clients from office sharing.
#8: It’s more cost effective. Companies in NYC save an average of $79,200 per year with office sharing over signing a traditional lease. Don’t believe us? Check out the office savings calculator to see what you could save your business.
#9: It can lead to lower turnover. Office sharing helps companies save thousands of dollars on office space. What are they doing with all that money they’re NOT spending on rent? They’re reinvesting in kick-ass employees. PivotDesk CEO, David Mandell explains the trend further here.
#10: It’s flexible. You can add or subtract spaces as your company grows and changes. Why pay for space you’re not using? Month-to-month contracts ensure you won’t get locked into a solution that doesn’t work for your company.
The modern workplace is changing fast...
Are you keeping up?