As the coworking movement continues to trend, entrepreneurs are beginning to see more and more of the advantageous benefits of their memberships. Among them is the ability to wow prospective clients with amazing professional spaces on a budget. Some of the greatest advantages to coworking spaces and conference room rentals is the minimal overhead and maximum utilization.
Professional Space Memberships and Rentals
If you’re unfamiliar with the coworking trend, it’s essentially a shared office space which allows freelancers and entrepreneurs alike to work alongside others in a professional setting with minimal costs. It’s catching on quickly, in large part because it allows business professionals to work in some amazing (and fully equipped) spaces with very little overhead expense.
With several options available today, memberships range from full-usage, unlimited access, to conference room rentals for specific meetings. These spaces are designed specifically to meet the needs of any business professional while allowing for budget-friendly flexibility and accessibility.
What Conference Room Rentals Offer
There are a number of reasons you may find the need for a larger meeting space. Annual budget meetings, conferences, or even just to impress a specific client – whatever your need, conference room rentals might be a great option.
Many people think of these areas as hotel meeting rooms with closed off panels and outdated décor. It’s difficult to make a good impression with outdated surroundings weighing in on the meeting. That’s where the coworking movement and conference room rentals come in. Today, there are several options available for coworking spaces and conference room rentals in much more elaborate (and fully equipped) settings.
The Benefits of Conference Room Rentals
Whatever your reason for considering a conference room rental, there are numerous benefits to the rented space options. If you’re considering a conference room or meeting room rental, here is a look at some of the greatest benefits to keep in mind:
1 – The Wow Factor
Perhaps you don’t have the space in your existing office environment to accommodate a larger meeting, or maybe you just want something with an impressive view. No matter what your reasoning, renting conference rooms can offer you the chance to truly impress potential clients with functional and updated areas. Particularly, if you’re conducting business out of a small home office, professional conference spaces can supply you with a much more professional atmosphere for meetings.
2 – Fully Equipped
It’s difficult to host a meeting if you’re lacking specific technology and equipment. Depending upon your current office situation, it may be quite costly to purchase items such as multiple phone lines, projection screens, interactive whiteboards and other tech needs. Renting conference rooms offers all of the technology you will need to hold a successful meeting without the ridiculous overhead expense.
3 – Convenience and Budget-Friendly
If you’re a budget-conscious entrepreneur (and let’s face it, we all are), coworking spaces and conference room rentals are a fantastic way to stay in the black. By keeping costs to a minimum and offering flexibility of usage, these shared spaces are a great way to conveniently take care of some of the basics of your business needs.
If you’re shopping for a new office space, there are many things to consider beyond what is simply available. Since your office space is where you’ll do the bulk of your business dealings, it’s imperative that you find the right space for not just your business, but your budget and your future.
“An office environment reflects and reinforces a business’s core values, through the placement of different teams and functions and design elements that reflect culture, brand, and values,” explains Harvard Business Review (HBR.org).
While availability is certainly something to consider, it’s not as critical as you may believe. What is far more important to keep in mind is something HBR.org identifies as the “7 Attributes of Workspaces:”
1 – Location of Your Office Headquarters
This may seem like a no-brainer, but it’s crucial to choose a space that is central to your business needs and clients. Be sure to keep in mind how easy the space is to access by visiting customers and colleagues.
2 – Office Elements
You’ll need to take stock of any potential office headquarters’ spacial elements. What we mean is, how open is the location? Does it offer privacy where needed for meetings, and spaces that encourage comfort and productivity?
3 – Privacy Matters
Similar to the elements listed above, privacy is a key attribute to keep in mind. You’ll need to make sure the space offers elements such as private conference rooms, individual land lines for closed telephone meetings, and any other privacy options.
4 – Tech Tools
Since the bulk of business dealings today are handled digitally in one form or another, it’s crucial that your new office space is equipped with the necessary technology. Look for locations that can offer high-speed internet, Wi-Fi, and other integrated technology tools. There are many locations, such as coworking spaces, that offer all-inclusive bundles for office spaces that are ready-to-go and equipped with all the digital tools you’ll need.
5 – Networking Appeal
One simple element that many entrepreneurs overlook is the degree to which your space invites clients and colleagues to network together. In other words, does the space offer ample and inviting areas where you can comfortably carry on business with others in both a social and functional way?
6 – Focal Points
This may seem trivial, but focal points are a critical piece of any office environment. They are the elements within the space which draw you to them (and by extension, your clients). You’ll want to choose a space that has appealing aspects and a well-thought-out area for inviting and comfortable work areas.
7 – Available Space
Lastly, a space is only as valuable as its available work areas, so take stock of how much (and what kind of) space you need and compare that with potential headquarters. The area needs to have enough room for your daily functions (quiet space, communal areas, conference rooms), yet also allow for any future growth.
Once you have taken all of these elements into consideration, you can then compare your options with other aspects. Obviously, you’ll want to carefully consider your budget and individual business needs among other things. Overall, your office space will say a lot about your business in general, so consider all factors carefully before moving into your new space.
Coworking office spaces have grown exponentially in popularity among entrepreneurs in recent years. In fact, communal work environments are predicted to average membership growth rate increases of nearly 25% over the next few years alone, according to the Global Coworking Unconference Conference (GCUC).
So why the sudden influx of memberships? Perhaps it’s the unique and diverse environments associated with coworking offices spaces. Or, perhaps, it’s one of the dozens of other benefits members list as appealing that is drawing new members in droves.
According to sources such as the Harvard Business Review and the Chicago Tribune, coworking office spaces have become wildly popular for numerous reasons. Members who participate in them state the coworking spaces allow them benefits that are unparalleled by any other means. Of the many benefits given, here are some of the most widely reported advantages coworking members reported:
The Coworking Savings
For starters, let’s be honest – when it comes to business, the bottom line is, well, the bottom line. An office space option that allows you to cut costs while keeping a beautiful and functional work space is going to be high on the list for sure.
“If you lease your own office space, you’re responsible for paying for utilities, supplies and amenities. With shared offices, utilities such as water and Internet are included, as are other amenities including coffee and kitchen supplies. This reduces costs and some of the details you have to tackle day to day,” explains ChicagoTribune.com.
No More Office Politics
Another benefit, as researchers with Harvard Business discovered during a 2015 survey, is that coworking spaces have a noticeable lack of “office politics.” Since everyone who is involved in a shared office environment has a different area of expertise, there is no sense of competition among coworkers.
“Because there is little direct competition or internal politics, they don’t feel they have to put on a work persona to fit in,” Harvard Business Review reports. As a result, coworking space members tend to feel much more comfortable and focused on their own projects than they did in traditional office spaces.
Since shared office spaces usually offer monthly membership options, you have much more flexibility than you would with an office lease or mortgage. The monthly choices give members the ability to operate on an as-needed basis, as well as allowing them the flexibility of their own schedules as well. Coworker spaces are often open 24/7 for members to access whenever they want. This allows for a “come and go as you please” office environment, which is (understandably) highly appealing to members.
Community and Support
Finally, coworkers have noted that one of the biggest benefits to utilizing shared office spaces comes in the form of the community and support they gain while at work. Coworking spaces have members from all walks of business and experiences. This gives members a unique opportunity to socialize with others they may never have met before.
By extension, members are also entrenched in a pool of coworking specialties. This means that most will have a new set of coworkers that can offer on-demand help or advice with fresh perspectives every day. It also offers some fantastic networking opportunities.
The benefits of coworking seem to be never-ending if you have the opportunity to discuss experiences with someone who participates in a membership. One thing is for certain; the statistics clearly state that coworking offices are trending, and we’re beginning to see why!