Aside from the actual products or services a company offers, one of their most important aspects is the environment in which they work out of. Office space solutions have changed drastically over the years. Although many companies still operate out of the stereotypical, cubicle-based setup, technology and innovative approaches to lease deals have created new opportunities especially for small businesses and startups. Here are three office space leasing arrangements that are available in virtually every city in America today.
1.) Virtual: One of the most unique office solutions is the concept of virtual office space. Although the first commercial application of a virtual office occurred in 1994, the idea has gained popularity in recent years. A virtual office is a brick-and-mortar building that can serve as a traditional office, but the idea is you predominantly use it as a professional mailing address, access to a receptionist, and place to hold things like large video conference calls. One of the many benefits of using a virtual office is not having to commute as 80% of employees view the option to work remotely as a job perk.
2.) Temporary: Temporary office space is similar to virtual, except the terms are different. Whereas a virtual space you only use when need be, temporary office space is usually used full-time while you’re leasing it. Unlike a traditional lease though, which usually is signed for at least one year, temporary space can be rented by the hour, day, week, month, or year. It’s almost the in-between for a small business/startup trying to get established before they commit to a long-term space.
3.) Traditional: Of course there’s always the classic traditional office space setup. Lease terms are usually for at least one year and they feature all the basic amenities. If you know your business isn’t going anywhere anytime soon and can afford the cost this is still a good option for many businesses.
Depending on the kind of company you’re in, its size, location, and various other factors will determine which option is best for you at any given time. Keep an open mind and know the advantages and disadvantages of all of them before you make a final decision.