Shared office spaces can be extremely beneficial to your early-stage company. When shopping for office space you might notice all the requirements and responsibility that come with having your name on the lease. By entering into a plan with someone else taking on all the responsibility you can have the best of both worlds. When the sink is broken and someone needs to call the plumber you can rest easy knowing that someone else will take care of it and you can focus on what matters. The growth of your early-stage business is dependent on you concentrating all of your energy on everything your new business might need. Let someone else worry about dealing with plumbers, electricians, and any other minor inconveniences that pop up as a tenant. You can come and go as you please without being locked into a long-term lease. Signing your own office lease in NYC currently, means that you are committed to that office space for the next seven to twelve years.
What is a coworking space? Click to find out more.
Coworking Space NYC
Coworking is the easiest and some would say the best way to find the perfect office space for freelancers, entrepreneurs, and small startup teams. You can move into your new office space tomorrow with all the business amenities you need already in place. Coworking is the fastest growing trend in commercial real estate over the last decade. Coworking is growing at such a fast rate that it’s on pace to become the industry norm for startups and early-stage companies. Coworking spaces come with a community manager that make sure everything is running smoothly 24/7 and you can adjust the amount of space you need whenever you want. Choose from hot desks, dedicated office space that is permanently yours, or private offices.
Subleasing is when you rent office space from a company inside their office space. When companies need to downsize or they lease an office space that is bigger than they end up needing subleasing is a win-win for all parties involved. The best way to use subleasing to your advantage is to find a company that compliments yours. For example, if your FinTech startup is beginning to grow so large that you no longer feel like a coworking space is ideal, subleasing is probably a better option than finding your own office space. Finding an established FinTech company that is where you would like to be in five to ten years and needs to rent out part of their office could give your business a huge boost. Signing a contract to become a subleasing tenant is usually much simpler and easier to get out of than signing the lease as the main tenant.
When you are in a shared office space, networking opportunities naturally arise. Going to industry events and meeting your peers who can potentially become business partners will become a natural part of your week. The best coworking spaces hold multiple events every week. They can be anything from a huge business event to something fun and simple like yoga or happy hours. In addition to events, you’ll also be working side by side with all sorts of freelancers and New York City startups. The opportunity to network with them and forge close relationships should come naturally in the startup environment that is prevalent at many coworking spaces. Finding friends in other industries also leads to going to events you would normally not hear about. If you’re a FinTech startup going to an art event it might not seem like a networking opportunity but none of your competition will be there. You might meet someone that helps you with your business down the road, or the worst case scenario is that you might not meet anyone but end up having fun at a cool art exhibit.
Business partnerships are the best way to grow your company. Founders of successful companies routinely say that business partnerships are one of the top things that is working well in their marketing efforts. At coworking spaces, you are naturally going to partner up with the business down the hall that you already know. All the things that might not be natural in a business partnership run much smoother when you already know everyone involved. A strategic partnership can lead to a 68% increase in new customers according to a recent poll of business executives. Other advantages include pooling resources, ease of access to new technologies, extending product lines, expanding geographic reach, and an increase in revenues are the leading benefits of creating strategic business partnerships.
The Farm SoHo
The Farm SoHo will wow you and your guests with its rustic charm and inviting environment. New York City's most engaged community of startup teams, developers, remote workers, freelancers, and entrepreneurs. They have converged to share ideas, innovate and learn in a collaborative and nurturing environment. Their story began in Missouri where they found a gorgeous barn that needed a second chance. They dismantled the barn and brought it to NYC and rebuilt in in their loft in SoHo.