Servcorp has been in business for over four decades bringing various office solutions to professionals and businesses first in America and now, worldwide. Beginning with the standard serviced office, the company has grown to incorporate other office styles into its huge array of plans. In addition to the newest trend of providing virtual offices to businesses, the ever-evolving coworking spaces are also a favourite in this current climate where skyrocketing rents shut out smaller businesses for coveted office space.

The company’s version of the coworking space is similar in format and tone to others. However, Servcorp’s coworking spaces in America presents businesses with a few more options than your standard coworking space, namely offices in international locations. As one of the leading office providers, the giant has latched onto a business model that can work for any business, from your fledgeling startup to any corporation.

Continue reading to discover how to incorporate the coworking space into your business model.

What Are Your Business Objectives?

One of the central tenets of the coworking space is this whole idea of promoting collaboration instead of competition in a nurturing working environment. Immediate objectives that go along with this goal are related to the various functions that coworking spaces might engage in to achieve this goal. Many of these events relate to networking, team building, and providing members with a sense of community within the workspace. In essence, the coworking space goes beyond simply renting space and succeeds in getting professionals to believe in the whole concept of joining a community of like-minded souls. While the concept of the coworking space is great, even lofty, there are a few more ingredients that make the space successful.

Benefit From The Prestigious Location

One of the great benefits of the coworking space is that it provides businesses with an inexpensive option from conventional leasing. This is especially true for people who live in urban centres where rents skyrocket the closer the building is to downtown. For businesses interested in adopting a coworking platform, location is key. In the United States, most of the coworking spaces are in urban centres or in the surrounding areas.

The reason this is so is that the city is typically a natural draw for traffic. In addition, the city is usually a hub that is comprised of a number of resources for everyone working in the area. For these reasons, most successful spaces, whether they are in the downtown area or on the outskirts, do well because they are in a prime location.

Lower Operational Costs

When adopting the coworking space model, your business will have to balance what it costs to continue to rent traditional office space while simultaneously paying for coworking space for your employees. In the beginning transitional phase this will increase operating costs, but of course, this will only be until your business moves fully to a coworking space and you no longer need to lease traditional office space.

Does Your Business Model Lend Itself To Coworking?

Some business simply cannot work this way and need a traditional brick and mortar office to run effectively. This, of course, depends entirely on your type of business, so you need to evaluate whether collaboration and a social work environment is the right choice or your particular business needs.

Adopting The Coworking Space Model

In its inception, the coworking space was an office solution that provided space for startups primarily. As the model has evolved, SMEs and larger businesses have seen the value of a workspace solution that creates collaborative opportunities as opposed to pitting co-workers against each other in competition. Ultimately, while the concept is a simple one, adapting to the coworking model will require a keen sense of business know-how.