As big metropolises such as New York continue to grow, it has become increasingly more difficult for newer and smaller businesses to establish a space for teams to work. Similarly, experienced businesses looking to expand might encounter the challenge of securing just the right work environment to allow for growth.
Fortunately, there are a number of creative solutions popping up that make finding the right office space to inspire and motivate your team possible. One such solution is a temporary office space. Temporary office spaces offer a wide range of benefits, including everything from existing IT infrastructure to flexible leases to low overhead.
Let’s take a look at what temporary office spaces are, the many benefits that come with choosing a temporary space for your business, what to look for when renting a temporary office space and more.
What is a Temporary Office Space?
Simply put, a temporary office space is a work environment a business leases for a set period of time. Leases for temporary office spaces can range in duration, from very short periods of time, such as a month or two to longer lengths up to a year.
Temporary office spaces also range in size. You can rent private offices, team spaces, mini-suites, coworking spaces, and more that fit the specific needs of your business and team.
When renting a temporary office space, you utilize the existing amenities in the building. Many feature kitchens, copiers, audio-visual equipment, Wi-Fi, conference rooms, and many more features essential for productivity.
Benefits of Using a Temporary Office Space
With temporary office spaces growing in popularity, you may be asking yourself why exactly companies would choose to forgo purchasing their own office space in favor of a temporary option. The proof is in the many benefits offered, which include:
Reduced risk, lower costs.
One of the most obvious benefits for many businesses is that temporary office spaces offer a lower risk and financial commitment. Since you can typically break your lease with very little penalty, if you find something better or need to expand again, it’s much easier than taking on the responsibility of owning an entire building.
Moreover, since space is typically less expensive than owning the building yourself, businesses spend significantly less during this time. A great way to save even more money is by choosing a space with the amenities you need, and not paying for those that aren’t necessary.
Work on your terms.
By renting a temporary office space, you can choose the location that works best for your business, regardless of whether it’s in an area with low rent or high visibility.
Many businesses also enjoy being able to move into any new locations as they open up over time. If you are looking to expand into new markets but don’t feel ready to purchase new office space, you can do so as a short-term solution.
Additionally, if your business is young and still in the process of securing funding or building out its team, renting temporary office spaces can help keep overhead costs low while it works toward long-term success.
Provides Infrastructure.
We all know that for any business to be successful in today’s day and age it must embrace technology. In fact, companies today rely on a variety of technologies on a daily basis. However, for small companies just starting out, there is very little budget for paying for the long list of IT services they require to function.
For this reason, the existing IT infrastructure of a temporary workspace is a huge benefit. Temporary office spaces have everything a company needs to run smoothly, from reliable Wi-Fi to video-conferencing tools to smartboards. Even better, many temporary workspaces have a dedicated IT support team on-site to help troubleshoot any issues that come up.
By having an office space with an existing IT infrastructure, teams can come into their new office space and get right to work, instead of having to wait days or even weeks for everything to get set up.
Professional Image.
For many companies, image is everything. After all, if your business doesn’t have the right look and feel for potential customers or clients to see, it can be difficult to develop a strong reputation in today’s market.
Temporary office spaces are one of the most common ways that start-ups establish their professional image early on. After all, if your business is paying for temporary office space in a high-rise building with floor-to-ceiling windows and amenities like an onsite gym or rooftop terrace, it’s hard not to project the right image.
There are many benefits offered by using a temporary office space including reduced risk of financial commitment, location flexibility, and access to the IT infrastructure you need.
Lease Flexibility.
It can be hard to predict how your company will grow over time, and therefore hard to predict how the needs in your office space will change over time. For this reason, entering into a short lease or flexible lease agreement for your office space is essential. Many companies need a space that offers them flexibility, and temporary office spaces give you exactly that option without the risk or financial commitment necessary for buying an entire building outright.
Additionally, there are many different types of temporary office spaces available from traditional coworking spaces to virtual offices which are ideal for companies who need a professional space to meet with clients or potential investors.
Many businesses also love the fact that they can move into any new locations as these spaces open up over time. If you are looking to expand into new markets but don’t feel ready to purchase office space, renting temporary offices is an affordable way to do so.
With these temporary office spaces, you can truly customize your package to include exactly what you need—nothing more, nothing less. Whether you need a desk for a day or two or opt for a private office for a month, your specific needs will be met. If things change in a month, you can adjust as needed.
Networking Opportunities.
If you are looking to grow your business, then chances are that networking is a big part of what you’re doing. Finding new clients and partners can be challenging in the best of times, but it’s even harder when you don’t have an office space to make calls to anyone or host face-to-face meetings.
However, by renting temporary office space, you give yourself the flexibility to host important meetings with potential clients or partners. Even if it’s just for a few hours on your lunch break, having somewhere that can act as an office allows you to meet new people and stay connected in today’s fast-paced business world.
Community Atmosphere.
Many companies are looking to create a strong company culture centered around their employees and the work that they do together as a team. For this reason, many are moving away from traditional offices in favor of coworking spaces or shared office spaces that allow teams to be more productive by being surrounded by others who share similar goals and interests.
Temporary office spaces are an excellent option for this type of atmosphere because it allows you to be surrounded by others who understand the business world and can act as mentors, collaborators, or even competition when needed.
These aspects can be beneficial to everyone involved by helping them grow their network while also fostering a sense of community.
Desirable Amenities.
Many temporary office spaces are located in prime locations with easy access to transportation and nearby venues for lunch or after-work activities.
Many of these offices also offer amenities like free coffee, onsite gyms, game rooms, lounges—the list goes on. These perks can help attract top talent because it lets them know that you care about the quality of their lives outside of work.
As you can see, there are many benefits when it comes to using temporary office space for your company needs. Whether you need flexibility in where you rent or if you want access to amenities like on-site gyms and cafes, these options can give companies an edge over traditional offices that may cost more and not offer the same benefits.
No Move-In Fees
With traditional offices and even coworking spaces, you often have to pay the full cost of your monthly lease upfront. However, with many temporary office spaces, there are no move-in fees which mean you can start working right away without having to worry about hidden costs.
Customized Packages.
Many office space rental companies offer customizable packages that can include different types of offices, meeting rooms and even catering services depending on your needs. Because these temporary spaces are flexible in terms of the type of amenities they provide or what you need to achieve company goals, it makes owning a virtual office much easier for many businesses.
Low Overhead.
As you might imagine, establishing a new office can be an overwhelming and costly process. From investing the time and effort to shopping for office space, selecting furniture that is comfortable and durable, and purchasing a variety of tools and supplies, it all adds up.
When you choose a temporary office space, you immediately eliminate the costs associated with furnishing an office space and purchasing costly hardware.
Fortunately, many temporary office spaces already come equipped with a lot of the hardware you’ll need, such as printing facilities, monitors, and phone services. Plus, they’ll already come furnished with high-quality, stylish furniture to keep teams comfortable and motivated throughout the workday.
What to Look for When Renting a Temporary Office Space
You want to find office real estate to get things accomplished. Therefore, to get the most out of temporary office space, it’s important that you know what you want and what to look for. That way, you’ll find the location that’s suited the best for your company.
You’ll want to look for areas with reliable internet connections and easy access to public transportation so employees can easily commute if they cannot drive or park. Other things to look for and questions to ask include:
Decor & Amenities.
What does the office space look like? What amenities are included in your temporary home away from home? Does the furniture and equipment feel high-quality and comfortable to work at all day? Is there enough seating for everyone who needs to be part of meetings or marathon brainstorming sessions, etc.?
Technology & Layout.
Do I have access to WIFI? What kind of office space do I want? Do I prefer a more modern, sleek design or an old-fashioned layout with rich colors and classic furniture?
Office Size.
You’ll need to decide how much room your team will need to be productive. Will they just utilize one desk that’s side by side or would it be better if everyone had their own office?
Virtual Office Provider.
A virtual office provider is a business that provides businesses with an official mailing address, phone number, fax machine or other communication tools as part of their services. They can provide you with anything from a private office to a small desk workspace.
Membership Options.
In the end, you’ll need to decide if a membership-style temporary office space is best for your business. To give you an idea of how they work, Corporate Suite’s has a number of different membership plans available, depending on what type of office space is best suited to your unique needs.
This perk can be very beneficial because it offers many of the benefits that traditional offices provide without having to pay full price every month, and with no long-term commitment, which makes it easy for businesses to grow or scale back as needed.
Community Building & Client Benefits.
In addition to being able to choose how, where and when you work, temporary office spaces can help your business grow. These spaces are suitable for businesses of all sizes and have been proven to benefit various industries including technology-based companies as well as more established ones too.
Location & Transportation.
Finally, don’t forget to consider what your employees need in terms of location and transportation. Do they have a car? Are there plenty of affordable parking options nearby so the commute won’t be arduous? Or would it better if workers took public transportations such as buses or subways since these are often more frequent on weekdays and can help reduce traffic congestion.
Also, prime locations may be needed that impress during meetings. The location should be easy for clients and staff to access. You may want your location to be based close to nice restaurants and stores so clients and employees can make lunch breaks or go shopping. Be sure to discuss location & transportation considerations with your virtual office provider.
Innovative NYC Office Spaces from Corporate Suites
At Corporate Suites, we are committed to providing businesses of all types and sizes with modern, comfortable temporary NYC office spaces to help achieve organizational goals. The temporary office spaces we offer can be customized to suit your specific needs, whether you’re in search of an NYC virtual office, NYC office suite, NYC meeting space, or NYC coworking space or more. Contact a member of our team today to discuss your temporary office space options.
