The Right Time To Move From a Shared Office To a Private One

by huyho
February 15, 2022
Know-how, Leasing Office Guide
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Table of Contents

The shared office model is suitable for many start-ups and freelancers because it optimizes the cost of renting an office. But this model is quite limited as your business grows, at some point, you have to move to another office to ensure privacy.

The benefits of renting a shared office

As of the end of 2017, 1.7 million businesses were working in 14,000 co-working space locations globally. It is expected that by 2022, this number will increase to three times that.

Currently, shared office space is popular with many businesses, especially start-ups. When renting a shared office, businesses will enjoy benefits such as cost savings; available office utility services; Flexible contract period,….

The right time for a business to move to a private office

It can be said that the co-working space model is one of the office models that attract many customers because of its strengths. However, every model is timely and suitable for a certain scale. If you encounter the following signs, it is time for your business to need a separate office.

1. YOUR BUSINESS NEED A PRIVATE SPACE INSTEAD OF A SHARED OFFICE

The biggest limitation when working in the co-working space model is not ensuring privacy between companies. The connection space is both an advantage and a limitation of this model, especially when businesses start to need to have secret meetings with customer partners. At this point, owning a separate office for your company is necessary.

2. EXPAND SCALE OF OPERATIONS AND BUSINESS DEVELOPMENT

One of the most common reasons companies need a separate workspace and need to move from a shared office to a traditional one is the rapid growth of the business.

As your business grows and expands, surely this office model will no longer be able to meet the demand. At this point, the transition to a more suitable new office model is inevitable.

3. NEED TO BUILD BRAND AND COMPANY CULTURE

Once the business has grown and expanded, this is the time when businesses need to invest to develop their brand and focus more on employee benefits. Building company culture is equally important in motivating employees as well as attracting new talent in the future.

Owning a separate, professional office space will help position your brand and working style. Along with that, they will receive the trust of customers and partners, contributing to the development of business activities.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam: