Is it time for a flexible office space?
Category Advice
There's a shift taking place in the global commercial sector as more and more businesses are turning their attention to the concept of flexible or "flexi" office spaces. This concept is seen as a disruptor in the office sector, both internationally and locally.
In South Africa, flexi office spaces are growing in demand due to the unique benefits they offer. Many of these benefits are largely non-existent in the traditional office sector.
Defining flexi office spaces"
Otherwise known as coworking, shared spaces or "flexispace", a flexi office is an office setup in which businesses or individuals share a workspace with other people. Space can be rented out on a daily, monthly or annual basis, depending on the business's needs. Some flexi office spaces even offer private offices rather than open-plan space for those who require privacy and a quieter environment.
Unique benefits
Flexi offices fulfil a huge demand that traditional offices aren't able to. Firstly, renting these spaces doesn't require a long-term commitment. In other words, your office space can be adjusted according to your real-time needs. For example; if you are renting out a flexi office space on a daily basis and you realise that your business is growing, you can easily switch to a monthly or even annual rental option. This can help you save money, as you don't need to commit to a long rental lease which traditional offices require (usually three years).
Other unique points to note include the fact that these office spaces are fitted with basic equipment such as desks, chairs and phone lines - this makes setting up your business effortless and saves you the time and money that it would require to get set up from scratch. And what's more, by sharing an office space, you will have the opportunity to network, share ideas and establish collaborative partnerships with other business owners around you.
Who is it suited to?
Flexi office spaces are popular among independent professionals, tech start-ups and millennial freelancers. However, as the idea's popularity grows, it's surprisingly becoming more appealing to large, multinational companies.
Gauteng, in particular, is seeing the most activity in the development of these spaces, with demand expected to outstrip the existing supply. Currently, the suburbs experiencing the most demand are Morningside, Sandton and Midrand.
Not for everyone
Of course, a shared office won't be for every business. And it does come with limitations that many businesses won't handle. The three most obvious are: limited space, distractions and lack of privacy.
Limited space
If you need a bigger space for you and your team, your flexi office space can be upgraded to accommodate this. However, in certain circumstances, this may not be possible. This means if you foresee your team growing rapidly, it could be wise to stick to a traditional office space.
Distractions
Although working alongside other businesses gives you a chance to network, it can also be distracting at the same time. Some people may find it too noisy and this can affect their concentration and work productivity. With this in mind, there is an etiquette to follow to ensure that everyone working within a flexi space is considerate.
Lack of privacy
Flexi spaces, by their very nature, are significantly less private than a traditional office. Even if you rent a private office within a shared space, you will have to share the common spaces such as kitchens and meeting rooms. This environment may not be suitable if your business deals involve sensitive information or if you would like a quieter area to work.
Flexi offices are undoubtedly gaining widespread popularity across the country as their affordability, adaptability and networking opportunities appeal to more and more businesses each day. If you're deciding whether to stick to a traditional office space or make the transition to a flexi option, it is vital to weigh the pros and con.
Whether you're looking for a flexi or traditional office space in Gauteng, 3CUBE Property Solutions will be your real estate guide through the process. Speak to us today to find out more.
Author: 3CUBE Property Solutions
