Many of the small businesses and entrepreneurs make use of commercial space to do their business operations. The latest trend in this respect is to share the workspaces and it is actually a smart business idea. However, it will be good to share the office space with other businesses whose needs and requirements are similar to that of your business.
Co-working and sharing office space makes good sense for professionals like lawyers, doctors, massage therapists, chiropractors, financial planners, and many more. Many of the business professionals these days perform administrative works on the go and they need an office setting only to conduct meetings. Sharing office spaces will work very well for those professionals, as it will be very much costly for them to maintain an office with a reception area or meeting rooms. Sharing the expenses to run the office will be a much affordable plan for these professionals.
Regardless of the type of business that you are running and the type of office space you are looking to share, you need to ensure some important things while sharing office spaces.
Responsibility for the Space
One of the first questions that will come to your mind while thinking about sharing office spaces is “Who will be ultimately responsible for the workspace?” If your business and the other businesses are grouped together to find the shared office space, then your business will probably have the same responsibility as the other business right from the beginning. However, if one of the businesses owns the space, then the other businesses can buy a share of the office space to become owners or they may pay a rent for the shared office space.
If all the businesses have equal ownership and responsibility for the co-working space, then you will need to find out ways to make the decisions together. You might have to take decisions on decorating the office and making appropriate use of available space. If there is an owner or master for the shared office space, then these decisions will be taken by the owner. The businesses will also have to decide on utilizing the common spaces.
Regardless of who owns the co-working office space, sharing partners will need to decide on who will pay for what. Oftentimes, the office space sharing businesses use varied amount of area for their needs. If your space usage is not equal to that of the others in terms of area or time, you will have to decide on a payment arrangement that is acceptable to all the co-working businesses.