Managed Office or Coworking? What’s Right for Your Business?

Choosing the right office space for your business is crucial. The right environment can boost productivity, foster creativity, and improve overall job satisfaction. In today’s commercial real estate market, two popular options are managed office spaces and coworking spaces. Two modern alternatives to traditional offices spaces and office leases.

Managed Office Spaces vs. Coworking Spaces

Managed Office Spaces

Managed office solutions, like those offered by The Instant Group, provide a comprehensive, all-inclusive approach to securing and setting up office spaces making it easier for businesses and teams to get to work faster in perfectly curated workspaces.

Managed office providers handle everything from finding a suitable location, outfitting the space to meet client needs, and managing all aspects of the office delivery. This approach is ideal for businesses looking for a tailored workspace without the hassle of dealing with logistics and setup.

Coworking Spaces

Coworking spaces are shared environments where individuals from different companies work side by side. These spaces often offer flexible membership plans, allowing businesses to scale up or down as needed. Coworking is known for fostering collaboration and networking among diverse professionals. It’s perfect for startups, freelancers, and remote teams looking for a vibrant and flexible work environment.

How to Evaluate: Managed vs. Coworking

When deciding between managed office spaces and coworking, consider the following factors:

1. Size and Nature of Your Team

   Managed: Ideal for medium to large teams requiring dedicated, branded spaces.

   Coworking: Best for small teams, startups, or individual freelancers.

2. Level of Customization Needed

Managed: High customization potential. Offices, team spaces, meeting rooms, kitchen and dining areas, and more are designed and outfitted to meet your specific needs.

Coworking: Limited customization. Spaces are shared and more standardized.

3. Budget Considerations

Managed: Often requires a larger investment but offers all-inclusive services to deliver customized spaces.

Coworking: Generally more cost-effective with flexible pricing plans and the ability to scale up or down.

4. Duration of Stay 

Managed: Suitable for businesses that are ready to embrace larger leases and longer commitments.

Coworking: Great for short-term needs or month-to-month flexibility.

5. Community and Networking 

Managed: Less focus on external community, more focused internal collaboration within a dedicated space.

Coworking: Strong emphasis on community, collaboration, and networking opportunities.

Benefits of modern office solutions.

Both coworking spaces and managed office solutions offer distinct benefits compared to the office spaces of the past.

Benefits of Managed Office Spaces:

One of the primary advantages of managed office spaces is the tailored solutions they offer. Managed spaces are designed to reflect your brand and cater specifically to your business needs. This level of customization ensures that the office environment aligns perfectly with your company’s identity and operational requirements. Moreover, the hassle-free experience provided by managed office solutions is invaluable. Providers like The Instant Group take care of everything from locating the perfect space to outfitting it with the necessary furnishings and technology, allowing you to focus solely on running your business.

Having a dedicated space is another significant benefit of managed offices. Unlike coworking spaces, managed offices provide privacy and focus, which can be crucial for teams that handle sensitive information or require a quiet environment to be productive. Additionally, managed spaces offer scalability options. As your business grows, the office space can be expanded or modified to accommodate the changing needs, providing a seamless transition without the disruption of moving to a new location.

Benefits of Coworking Spaces:

Coworking spaces, on the other hand, are renowned for their flexibility. These spaces offer various membership plans that allow businesses to scale their usage up or down depending on their current needs. This flexibility is particularly beneficial for startups, freelancers, and remote teams that may not have a stable size or fixed office requirements. Coworking spaces are also more cost-effective compared to managed offices. Businesses only pay for what they use, making it an economical choice for those who need professional space without the high overhead costs associated with traditional offices.

Networking opportunities are another key benefit of coworking spaces. These environments are designed to foster interaction and collaboration among diverse professionals, providing ample chances to connect, share ideas, and even form partnerships. The vibrant atmosphere of a coworking space can also be a significant advantage. The dynamic and energetic vibe often found in these environments can boost creativity and motivation, making them an excellent choice for teams that thrive in a lively and collaborative setting.

Making the Decision

To determine which option is best for your business, evaluate your team’s specific needs, budget, and work style. If you need a highly customized, private space with comprehensive management, a managed office space might be the perfect fit. On the other hand, if flexibility, cost-effectiveness, and networking opportunities are your top priorities, a coworking space could be the ideal choice.

Choosing the right workspace can significantly impact your business’s success. Consider your unique requirements and explore both managed and coworking options to find the perfect fit for your team.

OfficeSpace.com is a part of The Instant Group – Together, we’re rethinking workspace. Get started and search thousands of office listings across every U.S. market for free.  Find your perfect space today on OfficeSpace.com.  

Connect with The Instant Group for more information on managed office solutions or explore various coworking spaces to find the perfect environment for your business.

How to Create a Work Culture that Supports Employee Mental Health

Mental health has always been important, but the need for supportive and empathetic workplaces has increased with the pandemic and the transition to unconventional work environments. Poor mental health can directly affect productivity and job satisfaction, which can lead to burnout and turnover.

With a record 4.5 million Americans quitting their jobs during the Great Resignation, it’s clear that people are more than willing to find new companies that support their needs. To retain top talent, companies must take care of their employees.

 

Now is the perfect time to revamp your company’s work culture and make it more focused on the emotional well-being of your employees. Here are a few ways you can start.

 

Recognize Your Employees

Sometimes supporting your team’s mental health is as simple as recognizing them for their hard work. Recognition is one of the lead drivers of employee satisfaction, which can lead to higher productivity levels. In fact, in a recent survey, 80% of employees claimed they would work harder if they felt they were being adequately recognized for their efforts.

 

Employee recognition often gets overlooked in the workplace, and when neglected can have a significant impact on your work culture. Making sure employees feel appreciated and valued for their contributions to the company can increase their overall satisfaction and engagement.

 

This can be in the form of a shoutout, award, fun event, catered lunch, etc. Offering positive reinforcement and showing gratitude to your employees can boost their morale and create an environment that values mental health.

 

Provide Financial Education

Finances are often a major cause of stress, resulting in poor mental health. Employees of all ages face various financial challenges, which have only been amplified by the effects of the pandemic and current events. For most people, their single job is their only source of income, which makes financial literacy even more important.

 

Although not directly tied to work, financial stress can still disrupt your team’s focus and productivity. It’s important to give employees proper education and resources to manage these hardships to foster a supportive work culture that values mental well-being.

 

This can be as simple as setting up a financial wellness program, where employees can gain the knowledge and resources they need to alleviate money struggles and fulfill financial goals. If a remote employee is looking to relocate closer to the office, a financial wellness program can help them figure out credit score requirements for a home. Similarly, if an employee has student debt, a financial program can help them create an action plan to help give them proper guidance to pay it off. Programs like this are a great way to provide employees with the help they need to lower stress and increase productivity, without breaking the bank.

 

Encourage a Healthy Work-Life Balance

Work-life balance is a vital part of a company’s culture and can also have a significant impact on employee mental health. Making sure employees aren’t overworked and have time to enjoy themselves outside of the workplace is key to supporting their emotional well-being.

 

Offering flexible working hours, remote or hybrid work options, and encouraging your team to use their PTO are all effective ways to promote a healthy work-life balance. These initiatives will allow employees to focus on their needs and mental health without feeling overwhelmed by work.

 

Offer Ways to Destress

Stress in the workplace is often inevitable, no matter what job you have. However, too much stress can be overwhelming and can quickly lead to burnout.

 

To help employees cope, offer them ways to de-stress during the workday. This could be creating quiet spaces and game rooms, offering meditation or fitness sessions, or giving them walk breaks during the day. Offering employees easy access and opportunities to clear their heads in the workplace can help lower stress levels and feelings of burnout.

 

Incorporate a healthier work environment, whether it be fixing the office or giving employees a stipend to improve their work from home set up, to help promote a comforting work atmosphere.  Increasing natural light, decorating walls with calming colors and designs, and providing ergonomic workspace options are great ways to create a healthier office environment. Although small, these efforts can show you care about your employees and value their mental health.

Take the time to listen and understand your employee’s needs. Once you’ve taken everything into account, you can facilitate a plan of action to create a supportive work environment. In the end, having a positive company culture doesn’t just help your employees, it helps your company as well.

Ready to start your CRE search? Explore listings on Biproxi.com

How Buying CRE is Different than Residential

Commercial real estate (CRE) is different from residential real estate. When most people think of buying a home, they think of finding the right house in the right neighborhood and making an offer. With CRE, it’s not that simple. There are extra factors to consider, and the process can be complex.

CRE Is Typically Bought and Sold as an Investment

Most people think of real estate as residential while overlooking CRE. While both types of real estate can be bought and sold for a profit, they are quite different. For instance, while people who purchase residential real estate often intend to live in it, the purpose of investing in CRE is to generate income. This income can come from renting out the space to tenants or from the appreciation of the property’s value.

CRE is usually financed with commercial loans rather than traditional mortgages. These loans typically attract higher interest rates and require a larger down payment than residential loans. As a result, buying CRE is a more complicated and risky endeavor than purchasing a home. However, if done successfully, it can also be much more profitable.

Looking for your nexts CRE investment? Start your search on Biproxi.com.

The Focus Is on the Bottom Line, Maximizing Profit for the Company

A significant difference between residential and commercial real estate is the focus of the purchase. When buying a home, individuals are focused on finding a property that meets their personal needs and wants. They may be looking for a certain number of bedrooms or bathrooms or enjoy a home with a big backyard. They will be considering decor-related issues like bed frame dimensions, mattress dimensions, and buying a medium-firm mattress.

In contrast, when companies buy real estate, they are focused on finding a property that will help them maximize profits. This means that they are looking for a centrally-located property with a high traffic flow large enough to accommodate the needs of organizations.

Properties Are Often Leased to Tenants, Rather Than Occupied by the Company Itself

With CRE, the company will typically lease the space to tenants rather than occupy it directly. As a result, it’s essential to consider the local economy and the availability of potential lessees when evaluating a commercial property.

Commercial leases tend to be longer than residential ones, so you’ll need to factor in the potential for a long-term vacancy when considering your investment. But if you do your homework and choose wisely, buying commercial real estate can be an intelligent way to build your portfolio.

There Is a Lot of Paperwork and Legal Red Tape to Go Through When Making a CRE Purchase

There is significantly more paperwork and red tape in purchasing in the commercial realm. This is due primarily to businesses being subject to a greater degree of government regulation than individuals. Buyers sometimes need to jump through many hoops to finalize a CRE transaction. However, working with an experienced broker can help streamline the process and make it as smooth as possible.

Commercial Properties Tend to Cost More

Another key difference is that commercial properties tend to be much larger and more expensive than their residential counterparts. Therefore, buyers must have deep pockets to enter the CRE market. But for those who do, the rewards can be significant. Commercial real estate can provide an excellent income and appreciation over time.

Location, Location, Location! CRE Deals Are All About Finding the Right Property in the Right Market

The adage “location, location, location” is just as valid for corporate properties as residential ones. The difference is that in the world of CRE, the focus is on finding properties that will be profitable. That means being in the correct market and finding the right type of property to meet the needs of the business.

A company seeking to expand its operations may seek a warehouse in an industrial park. A company looking to open a retail store would want to be in a high-traffic area with good visibility. Regardless of the type of business, the goal is always to find a property to help the company succeed. 

Do your homework to understand the local market before making any decisions. What types of businesses do well in the area? What is the vacancy rate? What is the average rent on similar properties? Researching these elements will give you a better idea of whether or not a particular location is right for your business.

Also, consider the type of property you need. As mentioned above, businesses have different needs regarding real estate. Make sure to choose a property that will suit the specific needs of your business.

Time to Consider CRE

CRE can be an excellent investment for those prepared to do their homework and navigate the process. While there are some critical differences between CRE and residential transactions, the rewards of CRE can be well worth it for those who are up for the challenge.

Ready to enter the CRE market? Read How to Navigate the Commercial Real Estate Buying Process.

 

Ready to start your CRE search? Explore listings on Biproxi.com

7 Best Ergonomic Chairs That Will Fit for Your Work From Home Setup

Since the exponential growth of working from home over the last couple of years, a lot of workers are deciding to upgrade their “work from home” setups. This is in part due to the uncertainty of their working situation moving forward and because a lot of these workers did not have a suitable office setup in their homes.

Before, these workers could move around in their office, go for lunch and get exercise through their commute every morning and evening. Now, they are spending more time in one place, and if that time is spent in a chair that is not designed for working, it can take a toll on their body. Dining room chairs and couches are made for lying back, not sitting up, and getting work done.

So, what can be done? The first thing you can do is change where you sit. Sitting at your dining room or coffee table in the sitting room is not a suitable workplace, and you will feel that in your back! A proper workspace that is conducive for productivity will consist of enough space for a desk and an ergonomic chair, along with accessories to further improve the user’s posture. Therefore, we have put together a list of the best ergonomic chairs for your work-from-home setup, it is an extremely worthwhile investment for your long-term health.

Best Ergonomic Chairs That Will Fit for Your Work From Home Setup

Here are our top picks for the best ergonomic chairs that will help you with your posture and keep you fully focused throughout the day.

1. HermanMiller Aeron

This extremely ergonomic chair comes with a high mesh back and head cushion, giving the user the option to rest their head while still maintaining good posture. You can get this model in three different sizes, small, medium, and large and they all come with a 12-YEAR warranty. Seat angle adjustment, adjustable arms, and adjustable lumbar support can all be added to this chair for an extra cost. A list of the best ergonomic chairs for your home office would not be complete without this option from HermanMiller.

2. Flash Furniture Mid-Back Ergonomic Office Chair

If you are looking for a more affordable option, this model from Flash Furniture comes in at a fraction of the cost of the above HermanMiller office chair. It features a breathable mesh back that has a curve to provide ergonomic support, padded arms that can be flipped up for a larger seat area and a thick (three-inch) cushioned seat. This chair can also be customized to the user’s preferences, with the backward tilt and the seat’s height both customizable, along with the ability to lock the chair in an upright position.

3. Steelcase Leap Executive Chair

This office chair from Steelcase can morph its shapes to perfectly fit the body that is sitting in it and to support all movements throughout the day. It has four-way adjustable arms, with the width, height, pivot, and depth being customizable. The lever that lives below the seat makes it easy to control the height of the seat and the rollers on the bottom are smooth for easy maneuvering.

4. Branch Ergonomic Chair

If a desk chair that skips all of the bells and whistles and just gives you the basics is what you’re looking for, then this option from Branch could be the right choice for you. This chair is less the half of the price of some of the other options on this list and can come in three different colors: Gray, Light Blue, and Black. It has seven points of adjustment, including lumbar support, seat depth, and tilt. The weight limit for this seat is 300 pounds, the mesh back provides breathability and the contoured seat cushion ensures a comfortable experience.

5. X-Chair K-Sport Mgmt Chair

This chair from X-Chair gives the user the ability to choose what it is using this chair for, with adjustability in the backrest height, headrest and optional footrest and wheel casters, among other adjustable features. The armrests move in every direction and the headrest and footrest both move to ensure that the user is as comfortable as possible. This company also claims that the chair is stain and spill resistant as well, but we would advise to not test that!

6. HermanMiller Sayl

This desk chair from HermanMiller has a distinctive look that will be sure to make your home setup pop. It can come in many different color combinations, like Black/Slate Grey and Fog/Studio White. The plastic webbed back (that is inspired by suspension bridges) ensures the user is cool and the supportive cushion gives great support and comfort. This is a more affordable option from HermanMiller and comes with the same 12-year warranty that the previous option on this list does.

7. Ficmax Massage Gaming Chair With Footrest

The only gaming chair on this list comes in at the end, but it will not disappoint. It can support up to 300 pounds and can rock, swivel or tilt. The retractable armrests and footrest will make sure that you are in the very best position to get the most work done or relax if you are taking a break (they’re important too!). It has a 4.8-inch thick cushion for extreme support and comfort for those extended working/gaming sessions.

So, what do you think of the above options for the best ergonomic chair for your work-from-home setup? Do you think you will be picking up any of the options listed above or do you have any suggestions that you think belong on this list? We would love to hear from you in the comments below!

10 Things to Consider in Choosing the Right Office Space for Your Business

Choosing the right space to operate your business is an important part of building your company. Your office space needs to be large enough to create an environment for your staff to work in comfortably, without exaggerating your overhead costs. To make sure you build the perfect working environment, here are a few things to consider in choosing the right office space for your business.

1. Do your homework

If you’re looking to buy commercial real estate for your business, you’ll need to inform yourself first. Scope out the area, find out why the building is for sale, and be sure to do your due diligence before you complete a purchase. If you aren’t sure where to begin, enlist the help of a seasoned commercial real estate broker to help you navigate the market before committing to anything. If you are looking to rent an office space instead, the same logic still applies. Be sure to find out why the space is for rent, ask to see the previous lease, and do your homework on the landlord.

2. Location, location, location

As with any other property, it’s all about the location. You need to pick a spot that your employees can travel to easily and is close to suppliers or customers you need to work with. The location of your business should simplify working conditions for you and your staff. Location is more important for some businesses than others, especially if you depend on walk-in clientele. But it’s always a good idea to find a location that is convenient for your staff, as well.

3. Look for meeting space

Before you settle on a location, make sure there is adequate meeting space. You will need conference rooms for privacy. The number of conference rooms you need will vary based on how large your staff is. Consider how many meetings go on simultaneously each week to ensure there is enough time for all of your staff to continue to thrive without interruption. If your office requires shared meeting spaces and media rooms, this is another thing to look for before you sign anything.

4. Ensure adequate parking is available

If there is no space for your employees to park, you may lose employees or have a hard time gaining new ones—especially if the location is not within walking distance for most of your staffers. The location you choose should have sufficient and affordable parking for your staff on the premises or nearby. If your location is in the downtown core, you can also try to make parking arrangements with a local parking lot to ensure your staff can park. If parking is a big issue, you may narrow your pool of candidates.

5. Make sure there is recreational space

Choosing an office space is all about work. Your employees need somewhere to unwind during break time. This is especially important if your location isn’t near local restaurants or cafes. A break room should be large enough to host your staff at lunchtime. It’s an added bonus if the office space has enough room for a couch, too. Find the best couch for you and your employees to relax on. This much-needed break time can actually make your staff more productive.

6. Ensure room for growth

An important part of selecting the right office space is choosing a location that offers your company room to grow. You won’t be moving your business once a year and you want your staff to grow healthily so your business can expand along with it. Account for some growth and ensure the space you choose will fit your team for the next five to 10 years, at least.

7. Consider costs

Whether it’s local taxes, rent, or other fees associated with the building you choose, ensure the costs of the space you move to are reasonable. You want to maximize the space you can get without exceeding your budget. If you are overpaying, you may end up having to downsize your staff or even your service offerings to keep up. To avoid this, set up a budget before you look for office space and be sure to stick to it.

8. Consider your business needs

Each business is unique. You may require a sample room whereas another business may need media rooms or conference rooms. To select the right space, you need to choose an office space that works for your individual business. Before you start the hunt, make a list of what your business needs most and look for these qualities in every space you visit. If a space doesn’t check all of your boxes, move on to the next one.

9. Check the facilities

If the building has common areas or common restrooms, verify them before you make it official. Ensure the facilities are clean. Your staff will appreciate having a clean and safe space to use. Facilities should be clean and up-to-code, as well. If the facilities are not in the best shape, move on to another office space.

10. Check the infrastructure

Does this office space you’re looking at accommodate the IT needs of your business? You will need a solid Wi-Fi connection for all of your staffers, phone lines, and other capabilities. You should ask the landlord about connectivity before signing a lease. If you are purchasing a building, have the building inspected to ensure it is safe and sold and that it can handle the electrical needs of your business.