In the past, entrepreneurs were forced to work out of their garages, attics, or bedrooms until they made enough money to lease some office space. That’s no longer an issue in the modern era with the availability of co-working spaces. Adding to the convenience of that option is a flex space, which is explained in more detail below.
How Do Co-Working Spaces and Flex Spaces Differ?
While each type of space is rented for a brief period from a leasing agency, the type of space provided is what differentiates the two options. In a co-working space, you won’t get a traditional office cubicle. This type of setup is designed for entrepreneurs who need a little more space and want the added advantage of networking with other entrepreneurs who may be sharing that space. It’s typically set up like a lounge or conference room with long cafeteria style tables and multiple chairs. Conversely, flex space is set up to provide temporary office space. Many flex spaces include office equipment, free Wi-Fi, and other amenities that you would find in any office.
Why Flex Spaces Are More Cost-Effective
A flex space is often preferred because the rental charges are typically lower than those in co-working spaces. There’s also less risk because flex spaces can be rented on a monthly basis with a small down payment. Conversely, there’s a bigger commitment associated with co-working spaces. Unlike co-working spaces, the utilities are usually included when renting a flex space, and that can be another way to save on expenses.
If you’re uncertain about renting a flex space, you might find it comforting to know that it’s not just new entrepreneurs who are finding this an enticing alternative. Many established companies, including movie production companies, regularly use flex spaces. The cost-effectiveness of flex spaces makes this a beneficial option for many different types of businesses. It’s a great way for new entrepreneurs to get out of the house or garage and into a more formal setting. If you’re looking for a viable option in starting your own small business or tech startup, flex space may provide the answer. In the future, this may be a growing industry with a need for flex office space in almost every city.