7 Types of Office Space for Entrepreneurs & Solopreneurs
SMBs and entrepreneurs often struggle to decide whether an office space is a good business decision. On the one hand, having a physical office space can legitimize the business, but on the other hand, it can be a substantial financial risk.
As an entrepreneur, leasing office space is a business decision with many contributing factors. Let’s examine the questions that go into that decision, and then we’ll explore the different types of office space available.
Pros and Cons of Having an Office Space
With the pandemic changing how businesses are run, more people are debating whether working in-person or remotely is better.
Pros for Having an Office Space
Here are some perks of having an office space for in-person work for employees and employers:
Better work/life balance
Easier access to the right technology
Better networking opportunities
Cons to Having an Office Space
Cons of in-person work affect employees and employers differently. Possible downsides include:
Lack of schedule flexibility
Potential distractions from coworkers
Questions to Ask Yourself Before Getting Office Space
When considering whether an office space is right for your business, ask yourself these questions:
Do I need the space?
Can I afford the space?
Is an office worth the financial risk?
Why do I want a physical office?
How will renting an office fit into my budget?
Will an office improve work for my team?
Will an office improve my business?
7 Types of Office Space for Entrepreneurs and SMBs
After experiencing both in-person and remote work, 49% of employees prefer a hybrid schedule.
Fortunately, there are different types of office space for various businesses.
1. Home Office
The home office has skyrocketed in popularity out of necessity. People enjoy the flexibility of working from home and being able to wear comfortable clothes.
However, many employees are easily distracted by family members or household chores. Plus, there can be a work/life balance problem when you live where you work. It takes strong willpower to set working hours and stick to them.
2. Coffee Shops
Going to a coffee shop, library, or any other place with secure WiFi is a way to keep the flexibility of working from home while also getting out of the house. Many employees find that changing their surroundings improves their ability to focus.
Unfortunately, you can’t control the environment in a coffee shop. It can be loud and crowded. It’s also not a professional environment for meeting clients.
3. Co-Working Office Space
Co-working office spaces have become a popular choice for entrepreneurs and solopreneurs. It’s an efficient way to get an office environment without buying or renting an entire office. Plus, it provides excellent networking opportunities with like-minded professionals.
Co-working spaces tend to have flexible leasing terms, which is helpful for those just starting out. You may also be able to lease space on a very short-term basis if you’re still interested in working from your home office a good deal of the time.
Davinci has both co-working and meeting spaces available. We offer high-speed WiFi, multiple location options, and services like copying and printing. Meeting spaces may have state-of-the-art equipment like smart boards, LCD projectors, and plasma screens.
4. Creative Office Space
This is a co-working space specifically designed to foster more creativity and collaboration. Creative offices tend to have:
Wide, open spaces
Startup businesses often favor office space like this.
5. Hot Desking
If you aren’t looking for much space, you can use hot desking, when people use a single desk on a rotational schedule. This is a startup business essential when workers or entrepreneurs need something different from a home office or coffee shop. You sit at your designated desk and get to work.
Davinci offers a hot desk service with full access to power outlets, secure WiFi, and printers.
6. Leased Office Space
If you have a small team, you may want to rent out an entire office. You’ll have control over the environment, meaning it will be quiet and good for any customer-facing tasks.
However, landlords may require a long lease. This isn’t ideal if you’re unsure where your business will go in the future.
Davinci offers one-day office space rentals. Get all the perks of an office in multiple locations without being tied to a lengthy lease term. Everything like WiFi, printers, and audio/video conferencing is included.
7. Owned Office Space
There are many benefits to owning your office space, from stability to complete control over the environment. But of course, it’s not suitable for everyone, and startups probably won’t have the revenue for this option.
This type of space is suited for businesses with larger teams that are stable and continue to grow.
Davinci Can Help You with All Your Office Needs
Whether you're an entrepreneur or own a small business, Davinci can find the right office space for you. We have plenty of locations in the United States and around the world for you to choose from.
Contact us today to get the perfect space for your business.