Shared Office Spaces

shared office space - The Farm Soho

Shared office spaces can be extremely beneficial to your early-stage company. When shopping for office space, you might notice all the requirements and responsibilities 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.

Your early-stage business's growth depends 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. Without being locked into a long-term lease, you can come and go as you please.

Signing your own shared 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

pleasing design of a coworking space in NYC

Coworking is the easiest and the best way to find the perfect office space. You can have it as a space for freelancers, entrepreneurs, and small startup teams. You can move into your new office space tomorrow by signing up for a coworking space for a day or a month-to-month office space in NYC. With that, you'll get all the business amenities you need already in place.

Coworking spaces come with a community manager that makes sure everything is running smoothly 24/7. Hence, 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

Subleasing is when you rent office space from a company inside their office space. It's a win-win when companies need to downsize or lease an office space that is bigger than they end up needing subleasing.

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. 

Networking

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. 

Partnerships

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. 

What To Keep In Mind

Consider the following when looking for shared office space:

  • The type of environment you want to create: A shared office space can promote collaboration and creativity, but it's important to make sure that the environment is conducive to the type of work you do. If you're a more traditional business, for example, you may not want an open-plan co-working space.
  • The budget you have to work with: Shared office spaces can be a cost-effective way to save on overhead expenses, but it's important to consider what you can afford. Make sure to compare prices and amenities before making a decision.
  • The location: Shared office spaces are often located in central business districts or near public transportation, which can be convenient for employees. Keep in mind, however, that the location of your shared office space may also impact the cost.

By keeping these factors in mind, you can find a shared office space that is right for your business and your employees.

Bottom Line

There are a few things to keep in mind when considering shared office space, such as the type of environment you want to create and the budget you have to work with.

If you're looking for a way to promote collaboration and creativity among your employees, shared office space could be a great option. There are a few things to keep in mind when considering this type of arrangement, however, such as the type of environment you want to create and the budget you have to work with.

Shared office spaces come in all shapes and sizes, from co-working spaces that can be rented by the day or month, to more traditional office space that is shared by a group of businesses. The key is to find an arrangement that works for your business and your employees

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. 

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