Coworking/Shared Office Space vs. Executive Suites
Here’s what you need to know before making your next office space decision.
Your business is ready for its next big move, literally & figuratively. Today’s marketplace offers many great office space options throughout Albany, NY and beyond. Two of the most popular options include coworking/shared office spaces and executive suites.
How do you know which is best for your business? Below you’ll learn the key differences so you can be sure to choose the perfect office space for you in New York’s Capital Region.
With The Anderson Group (Albany, NY), an executive suite typically ranges from 100-1,000 square feet and is best suited for small businesses with up to 10 employees. Our executive suites provide our tenants with shared amenities, including a lobby, conference rooms, and reception areas.
Here are some things should know about executive suites:
- Privacy – Unlike shared/coworking spaces, executive suites are only used by your business. This creates a more private operating experience as compared to a shared office space.
- Flexible short-term or long-term leases – The Anderson Group offers a minimum 90-day lease with our executive suites, but we also provide a variety of short and long-term leases to cater to every business’s needs.
- Monthly rent payments – your business will pay a fixed monthly rent payment which typically includes taxes, maintenance, housekeeping.
- More control over your surroundings – As opposed to shared/coworking spaces, you will be much more able to control your office’s ambience.
- Furnished or unfurnished – executive suites have the freedom to be set up however fits your business’s culture and needs.
- Brand your own space – with The Anderson Group’s executive suites in Albany and Colonie, NY, you’ll have the ability to brand your space and provide a professional environment.
- Security – by having your own lockable office door you’ll have more control and security over your personal space and belongings.
- Higher productivity – since your business will have its own space, there will be fewer potential distractions from other businesses, leading to higher productivity.
Coworking / Shared Office Space
A shared, or coworking, office space allows companies to rent a self-contained unit in a larger office space. These spaces may also provide shared amenities similar to executive suites, but they do not offer the same amount of flexibility as a suite leased through The Anderson Group.
Here are some things you should know about shared office spaces:
- Multiple businesses – coworking office spaces cannot guarantee as much privacy as executive suites because the building may have multiple other businesses.
- Flexible renting – with shared office space, you can rent hourly, daily, or monthly. This flexibility could be preferable for businesses who are only looking for space to conduct projects or meetings.
- Membership fee options – shared space offers payment options through a membership fee, which is a monthly fee that allows you to use the space and the amenities included.
- Possible disruptions – not having private access to your office might cause potential problems with workplace compatibility, personalities, or dynamics.
- Less control over surroundings – compared to an executive suite, your business will have less control over customization, noise control, etc.
- Fully furnished – coworking office spaces typically come fully furnished.
- No branding – you will have less ability to freely brand your space.
- Less security – the personal property may be less secure when sharing a space with other businesses.
- Lower productivity – various distractions can potentially impede productivity.
If you’re ready to move into a new office space, it’s crucial to explore possible options to ensure you’re picking a space that meets your business’s needs. To learn more about executive suites and office spaces in Albany and Colonie, NY, visit The Anderson Group today!