If there’s one thing that can keep a budding entrepreneur up at night (aside from endless cups of coffee), it’s finding the right office. The place where dreams come true. Setting up an office is a major investment for your business. Let’s dive in. Types of offices Top for startups to find the perfect backdrop for your success story.
There are 4 popular types of offices today: Home office, Virtual office, Shared office, Traditional office.
What is an office?
An office is a workspace, a set of rooms or buildings used as a place to perform professional, commercial, etc. work. This definition is general because offices can have many different layouts with a focus on having the most favorable conditions to perform specific work.
The most common types of offices include Home Office, Virtual Office, Shared Office, Traditional office. These types of offices differ in many ways, especially in size and layout. When choosing an office type, focus on size, work to be done, budget, culture, and growth plans.
Popular types of offices
Types of offices you should consider include:
Home office
For new businesses or startups, having a Home Office is the easiest and cheapest way to get a business up and running, such as admin support or setting up an online store. You can turn your house, apartment or rooms and even your garage into an office. Space can be limited and cramped and you may be a little distracted by roommates or children.
But for those who are just starting their own business and are still looking for funding from banks, investors and Venture Capitalists, this is the most practical way to start your business. You can also register a physical office at your home address. Famous and global companies like Apple, Facebook and Alibaba all started with Home Office type.
Benefits of home office
- Increase productivity: One of the most significant benefits of a home office is increased productivity. With fewer distractions and a quieter environment, employees can focus more on their work and get more done in less time.
- Flexible: When working from home, employees have more flexibility in managing their schedules and balancing work and personal life. This can lead to higher job satisfaction and better work-life balance.
- Save: Home offices can save employees and employers money on things like commuting, parking, and other work-related expenses.
- Improve health and fitness: Home offices can be designed to be more ergonomic and promote better posture, reducing the risk of back pain and other musculoskeletal problems. Additionally, employees can incorporate more physical activity into their day by taking short breaks to stretch or go for a brisk walk.
- Stress reduction: Home offices can also help reduce stress levels as employees can avoid the busy and stressful environment of a traditional office. This can lead to increased job satisfaction and better overall mental health.
Overall, the benefits of a home office can lead to a more productive, flexible, and healthy work environment, which can benefit both employees and employers.
But remember! The lure of a comfy bed, the smell of food, Netflix, and maybe a cat walking on your keyboard. There are a lot of distractions!.
Virtual office
When you want to have a formal office in a prime commercial area of your city but without the hassle of facing the issue of limited expenses, you can opt for Virtual Office. When you want your business to be registered in a prime district, easily searchable and reach more customers at a lower cost, Virtual Office is the best option for you. It is becoming more popular with businesses who want to have a flexible way of working and operating internationally with a presence in different countries.
Benefits of virtual office
- Cost Effective: Virtual offices eliminate the need to rent physical space, utility bills, and office amenities, allowing businesses to allocate capital to other essential areas.
- Flexibility and scalability: Without binding leases or physical restrictions, businesses can easily adapt to growth, changes in demand or changes in operations.
- Professional Image: Virtual offices often provide a prestigious address, telephone service, and sometimes a virtual assistant or receptionist, enhancing the professional appearance of the company.
- Work from anywhere: Team members can work from anywhere in the world, allowing businesses to tap into global talent pools and serve international markets more effectively.
- Environmental impact: By cutting down on daily commutes and the need for office amenities, virtual offices contribute to lower carbon emissions and a more sustainable working model.
Coworking space – Shared office
Nowadays, shared offices (shared workspaces or coworking spaces) are becoming more and more popular. This type of office makes you feel like you are working in a coffee shop, where you can relax longer, enjoy a cup of coffee and a comfortable atmosphere while working day and night.
This is the most common setup for new businesses or startups, with one or more team members, such as freelancers and professionals. The term “coworking space” applies to sharing a workspace with employees or business owners and startups from different backgrounds and companies.
Benefits of shared office
- Flexible working hours: This means you can go there at any time and work. You can also meet new people, connect with these startups and business owners, and learn about their experiences and expertise. Who knows, you might pick up a thing or two, about how to succeed in business, how to get new customers and potential investors, or expand into new markets, from other experts and entrepreneurs like you.
- Comfortable space, beautiful design: It's like a zone away from the noisy world outside, where you can focus on the work that really matters to you, creating products and services that will positively impact people's lives and make a difference.
- Fully furnished and ready: Another advantage is that you don’t need to buy office furniture because Coworking spaces are fully equipped with amenities such as Wi-Fi internet, desks and chairs, printers, telephones, fax machines and coffee makers. In addition, if you live in urban cities, you will have to pay a fraction of the cost of coworking spaces instead of renting an office.
For those who are new to business and have little or no capital at all, you can start working at Coworking Spaces.
Traditional office
When you decide to have your own physical office, you can choose to rent a spacious space or apartment where you can work, operate or produce your products and services. Traditional offices usually require a long-term contract with the landlord. Depending on the location and size, office rent can be more expensive than other types of offices and also include costs on your part.
Benefits of traditional office
- Professional environment: A traditional office provides a structured and dedicated workspace, free from the potential distractions of home or public spaces. It is designed for productivity and is typically equipped with all the amenities needed for daily operations.
- Networking opportunities: Sharing an office building or complex with other businesses offers many opportunities to network, collaborate, or simply interact with professionals from different fields. This can lead to partnerships, client referrals, or even friendships.
- Physical presence: Having a physical office space can enhance your company’s reputation in the eyes of customers, partners and stakeholders. It provides a clear location for meetings, demonstrates stability and provides a place to brand your business.
Owning a traditional office can be beneficial for many businesses, especially those looking for a balance between flexibility, professionalism and cost-effectiveness.
If you are looking for a short term office or just checking if the location is suitable for your business, then the best option you can have is the Office for Rent type.
How to choose the right type of office for your business
Choosing the right type of office for your business is like choosing the right foundation for your dream home. The choice can impact your team’s productivity, your company’s image, and even your operating costs. Here’s a guide to help you make an informed decision:
Understand your needs
- Team size: If you have a small team or are a solo entrepreneur, a home office or coworking space may be sufficient. For larger teams, a dedicated office rental may be more suitable.
- Nature of work: Creative agencies may want open spaces for brainstorming, while software development teams may prefer individual quiet spaces.
Consider your budget
- Compare costs between coworking space, virtual offices, office rentals or even buying an office.
- Factor in other costs: utilities, maintenance, furniture, internet, and any extra amenities you might need.
Think about location
- Accessibility: Choose a location that is easily accessible to your team, customers, and vendors.
- Brand Image: Being in a luxury business district can enhance your brand image but it will also come with a higher price tag.
- Nearby Amenities: Being close to banks, restaurants, public transportation and other essential services can be a bonus.
Graceful
- Do you need a short-term lease because you are a startup and expect to grow? A co-working space or office space with flexible terms might be best.
- If you're more established and anticipate staying in one place for a long time, consider a traditional lease or even buying office space.
Consider operational needs
- Technology: If your business relies heavily on technology, make sure it has reliable internet and technical support.
- Meeting space: If you meet with clients regularly, make sure you have a meeting room available.
- Storage: For businesses with physical products, storage space can be very important.
Looking for feedback
Involve your team in the decision-making process. After all, they will be working in the space too. Their insights and comfort can be invaluable.
The right type of office is a combination of practicality, budget, and needs. By carefully evaluating each factor, you can find a space that is not just an office, but a place where your business can thrive.
Office building classification
While office types focus on aspects such as floor space and facility layout, office building classification focuses on the number of amenities an office has. Office building classification is the classification of office buildings based on amenities, location, architecture, cost, and rent. The amount of office space does not matter when classifying.
Office building classification is not a set of rules as it is relative and there are grey areas between classes although there are distinct characteristics between them. For example, a building can easily move between classes with the addition or removal of some amenities.
1. Trophy Office Space
A trophy office space is a status symbol and landmark building with unique features and the best services, finishes and construction. It is usually located on a prime street and will command the highest costs and rents as there is no other building like it.
2. Class A office space
Class A office space is luxurious and is among the largest and best quality office space available. They can usually be found in new, historic or vintage buildings. They offer the best location, infrastructure, ownership and are mostly serviced. They command high rents and other expenses.
3. Class B office
Compared to Class A offices, Class B buildings are often older but have good, reliable facilities and ownership. As a result, they require less rent and other expenses, which appeals to smaller companies looking for good facilities at a bargain price. They are often located in prime areas but have fewer amenities and are cheaper.
4. Class C office
Class C office buildings are simply Class B buildings with fewer amenities. For example, they lack concierge services and other amenities that are considered ‘overkill’. Due to their basic nature, Class C office buildings are few in number as they are easily outcompeted by higher tiers. Owners also only need to make a few improvements to give them a higher status.
Factors determining office building classification
To assign a class to a building, focus on the following aspects:
- Location
- Building structure
- Age of the building
- HVAC
- Maintenance
- Infrastructure Construction
- Water system
The better these aspects are, the higher the office class of the building.
Corporate and non-corporate offices
Another way of classifying office types is to group them into corporate and non-corporate offices. Corporate offices are fully structured office spaces with executive/manager cubicles, desks, work areas, and other designated rooms for conferences, meetings, and other activities. They are preferred by established companies.
On the other hand, non-corporate offices are flexible work areas, with only the most core areas for people to continue working. They are favored by startups and mid-sized companies due to their flexibility and lower costs.
| Company office | Non-corporate office |
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Conclusion
Choosing the right office space is like choosing the right pair of shoes. It should fit well, match your style, and not give you blisters (or burns). Evaluate what you need, check your budget, and go get that dream office!
At G Office, we are providing Office rental services in HCMC, with many types of offices to meet the needs of many types of businesses such as: Virtual office, shared office and fixed working seat. If you are still wondering which type is suitable, call us now!
