In today's competitive business climate, an increasing number of businesses are turning to shared offices to increase productivity and save expenses.

Office sharing is a concept that allows businesses who own or operate an office and have excess office space to share or rent out workstations or self-contained units to smaller businesses searching for flexible workspace.

Remote workers, independent contractors, gig workers, consultants, and anybody else without a dedicated office space can rent workstations in shared workspaces.

Instead, the following query could come up: Why Should Small Business Owners Really Rent a Shared Office?

A shared office space is an open workspace where employees from several teams or firms gather in a neutral shared area. There are approximately more than 18,700 shared spaces worldwide. There should be 41,975 shared spaces by the end of 2024. That is a growth rate of around 21.3% each year. 

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Why Should Small Business Owners Rent a Shared Office

A shared office space is far more adaptable than leasing your own office building. You will not be required to sign a multi-year lease, and the majority of the equipment will be provided for you. 

Low initial investment: Finally, a shared office space is an excellent choice for firms trying to save money.

People may operate more easily in shared office spaces due to the excellent networking facilities. Businesses rely on relationships, and shared offices provide exposure to expertise from other work areas. 

People from various businesses may exchange their expertise, business possibilities, and resources.

Shared spaces may give bursts of inspiration by allowing you to collaborate with other people and expose yourself to different viewpoints. 

Changing locations and going to a new office might help you renew your thoughts and discover alternate solutions to company difficulties.

According to coworking statistics, there will be 13% more coworking spaces worldwide and 6% more in the US by 2022. Since we brought up Manhattan, it's noteworthy to note that 10% or so of office rents in the Big Apple are for coworking spaces.

5 Useful Steps to Take Before Renting a Shared Space

Improve Your Value Proposition and Business Model

Understanding your business concept is equally crucial to your success. Knowing your clients, the unique value you offer, whether your business will focus to earn profits and charges you'll need to reflect to maintain your space.

Investigate and Identify Local Competition

To clarify your market and assist you define your offers and pricing, research and identify challengers. List all of your direct and indirect customers. Consider the benefits and drawbacks of these ideas to learn the value a space provides.

Look for a Location

One of the most essential variables in achieving is the amount you pay on your building. You'll need a site that's ideal for your target clientele, as well as a budget that supports business growth.

Begin Creating Your Community

Community is the heart of shared space. It is a bit easier to get started if you render one before you open. Before opening their doors, many business shared office owners soon start planning parties and uniting together.

Create a Grand Opening Party plan

Notify neighborhood stakeholders like your business group, leaders in economic development, the city council, or the university. At least a week before your event, draft a media release and distribute it to your neighborhood news sources.

Estimate Cost Idea For Shared Office Rent

A shared office space is an open workspace where employees from several teams or firms gather in a neutral common area.

Most shared offices provide day permits for $7 - $20 per hour or up to $150 per day, depending on whether you want a communal space or a private office. Full-time fees can range from $50 to $900 per month.

The average monthly cost for a dedicated workstation in an open-plan workplace in Bangladesh is from $300 to $400 per month.

Rent should not exceed 5% to 10% of a commercial tenant's total sales per square foot. You may calculate sales per square foot by dividing your total square footage by your gross sales.

According to DeskMag, a dedicated workstation costs $387 on average per month in the US, while a hot desk costs $195. Even though they vary between regions, these expenses are essentially consistent globally.

And lastly, for companies trying to cut costs, a shared office space is a fantastic choice.

5 Certainly Benefit of Shared Office Space

Savings on expenses

Businesses may save money by renting out shared office space. Shared office spaces are well-furnished, with furniture and utilities bills covered. Some leasing agreements include service charge. As a result, rent is only one expense of the place you lease.

Increases Productivity

Set clear goals and criteria to keep their approach to interpretation. If the team consists of employees, it will aid them in leaning to the shared space as a single location for them to focus and work.

Improved Amenities

The key to sharing space is comfort, both physically and mentally. Employees feel more at ease in a well-furnished office with an amazing environment. Peace of mind is provided by shared offices.

Networking Resources

People can work more easily in shared office spaces due to the excellent networking facilities. Businesses focus on relationships, and shared offices provide exposure to expertise from other work areas.

Privacy Concerns

As you work in a shared office setting because you share not only physical space but also network and other resources, privacy may be at risk. In this situation, data breach is a quite prevalent issue.

3 Key Guidelines for Renting Shared Office Space

Size and Design

The dimensions and design will depend on how your firm is run. If business staff is big, you'll need a wider size to fit the workplace and additional amenities like parking.

Maintain a Strict Budget

When looking for office space, it's important to know your budget so you don't overpay. Additionally, not all firms require an office.

Speak with an Expert for Assistance

Before making any decisions, it is a good idea to consult with specialists. Agents will be your closest friends in this situation. They know where you can get the best service for the better cost.

FAQs

How much does a shared office space cost?

The cost of shared office space varies depending on how long you need it and the size of your staff.

Where can I find shared office space in my area?

Co-op offices are also available in Dhaka for large shared office enterprises such as HostBD, BanglamartBd, and Ecommerce.

What should a shared space have?

Basic amenities like WiFi, printers, and typically some kind of conference room are always present in shared spaces.

Conclusion

There are several shared office benefits and drawbacks across the world. Verify these crucial details depending on the advantages and disadvantages if you're looking for shared office space for rent in Dhaka. 

These are significant elements that impact productivity and define the value of shared workplaces. 

Please contact us for additional information.

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