What is shared office space? How does it work? How does it benefit you? We will answer these questions in this insider’s article from Paddock Place Office Suites, leading the way in Fort Worth with outstanding office space for rent in a coworking setting. Call us at 817-439-3224 when money matters but you don’t want to sacrifice quality in an office rental.
What is shared office space?
We will tell you what shared office space is by telling you, first, what it is not. It is not a traditional office space for lease. Traditionally, if you needed an office for rent, you would either rent a stand-alone office space, or you would rent office space in an office building. It has been that way since the beginning of commerce in the U.S., and it continues today. Basically, there is nothing wrong with this business model, provided you have the money to pay for commercial property for rent, plus signage, plus insurance, plus utilities, and plus furniture. It can easily cost $10,000 to rent an office space and then get it ready to actually open the doors for Business Day One, and there are not that many small companies which can afford that kind of financial burden.
Shared office space is a common work space where people from various companies come in, rent a portion of that work space, and conduct their business on a short-term basis. These spaces are rented by the month, and utilities are included in the rental price. It is called coworking space, and it is a business model which is catching fire in the U.S. and spreading rapidly.
How does shared office space work financially?
There is no long-term commitment with shared office space. You essentially rent an office when you need it, by the month. You do not pay for utilities, you do not pay for WiFi, you do not pay for insurance, and you do not pay for signage of furniture. Everything you need is included in the rental price. And what is that price? Paddock Place Office Suites currently rents office space for $550 per month. Compare that to the cost of an office space for rent in a commercial building downtown, and you can see how this might appeal to small businesses or home-based businesses occasionally in need of an office.
How does this business model benefit you?
Only you, the business owner, can answer this question, but we can safely say that coworking space greatly benefits those who take advantage of it. If you operate on a tight budget, and what small business doesn’t, then coworking space is a great benefit. If you are a traveling business person, and you are tried of conducting business in a hotel restaurant, then coworking space is a great benefit.
A final word about Paddock Place Office Suites
Paddock Place Office Suites is locally owned and operated, located in the Fort Worth Design District in the Alliance Area of North Fort Worth. Call us and ask us about the amenities included in our low rental price.