Over the last several years, the growing and enthusiastic start-up economy has fueled the popularity of co-working space. Co-working spaces have popped up all over South Florida. So when a major co-working space providers fell short of financial expectations, the South Florida Business Journal did some digging to see if the co-working space demand matches up with the supply.  In the article several real estate pros weighed in including Chris Lovell, Senior Managing Director of Savills Studley. He commented that the co-working market is a “side effect of bravado – and not good business sense.”

Well, that said, we thought you should know what to consider when you are looking for a place to get busy working on your professional goals!

Co-working (or shared workspaces) come in many different shapes and sizes. There are different pricing models, but they are set up to make office space available at affordable rates and flexible terms.

In most cases, Co-working Space is an open work area where collaboration is encouraged. There are private areas for meetings, but it is a social business environment. The most popular co-working spaces have a definite cool factor.

Are you too school for cool? 

While co-working spaces seem to cater to a younger, more-hip generation, some business centers offer a flexible workspace alternative that is more mature. Shared Office Space still provides a sense of community, but it is less of a social scene. It is meant to be a quiet, professional setting away from home to get some work done.

When considering renting any office space, there are a few things to consider in order to find the right space for you:

Community. Are you sharing your space with like-minded professionals? Do you prefer a social, collaborative setting or the quick how-do-you-do before you tackle your report?

Location Do you need to be close to home or closer to your clients? Are sustainable property management practices a factor for you?

Amenities What is important to you? Does your workplace host provide a break room? Networking or educational opportunities? What about things like car washes and dry cleaning service?

Flexibility Hopefully, there will come a day when your business has grown so much that you need additional space – possibly, even space for other employees. Do you have options? Can you size up or down during your contract term?

At Crown Center Executive Suites, we are a Shared Space and Virtual Office service provider that built on good business sense. We are a place that puts more emphasis on tribe than on vibe.  It’s a flexible workspace that is a quiet, professional setting yet still fun.

If you are interested in learning more about the differences in co-working space vs. shared space, contact Tina Kapp tkapp@ccesuites.com for more information.

Reference: South Florida Business Journal article, Does Co-Working Space Demand Coincide with Supply (http://www.bizjournals.com/southflorida/news/2016/09/21/does-co-working-space-demand-coincide-with-supply.html)
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In addition to flexible options for private offices, share spaces and meeting rooms, Crown Center Executive Suites provides valuable business resources to South Florida professionals. Besides hosting this free educational event, Crown Center Executive Suites provides a wide range of amenities for the small businesses and professionals.
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