Over the years, many business sectors have been forced to merge. As a result, a new and concepts and business models emerge, such as the space-as-a-service business model.
Subscriptions services, which have already proven to meet the demands of some, are a part of a growing trend. People who need use of temporary services more than they need permanent assets are most attracted to these models. Companies that own cars, music CDs or DVDs such as Uber, Lyft, Spotify and Netflix have met the demands of consumers with their service-based business models.
Each of these industries has already made the shift and have adapted to the new trend. And with the space-as-a-service model, the real estate industry is now onboard as well.
Why Space-as-a-Service Gotten so Popular
If you noticed, the companies mentioned above provide services on demand. And having access to real estate space is in high demand in today’s office and workspace environment. It is becoming the future of real estate. Not only are short-term office spaces made available to small and large business owners, but customized services are available as well.
Technology
It’s important to make the most of your commercial space by offering all the bells and whistles that most tenants expect. Such as the ability to connect to high-speed Internet, store data in the cloud, faster broadband and more.
Flexible Hours and Terms
Some businesses grow into a shared office space. Even though man employees may work from home, the company still needs to utilize a shared office facility on an as-needed basis. And because of today’s global economy, people are doing business around the clock. Shared office spaces that offer flexible hours is also meeting the demands of a growing trend.
Meeting Other Demands and Growing Workspace Trends
Other growing trends that real estate space-as-a service provide include face-to-face meetings, a prestige business address, and business services. The Clubhouse in London is a high-profile example of the success of the office space-as-a-service model, with four locations. Services and amenities available on site include complimentary WiFi, refreshments, fresh fruit, tea, Nespresso coffee, bike racks, showers, and a full-service deli.
Face to Face Meetings
Although a huge trend has shifted to individuals working from home, there are times when members of remote teams come together for on-site meetings. This has proven to be more effective than merely interacting through electronic devices. In fact, according to research performed at Cornell University, face-to-face meetings are more effective than virtual meetings. It’s 34 times more effective. Particularly when asking someone to perform a task in person versus by email.
Prestigious Address and Staff Services
Although your primary place of business may be your home office, if you need to hold a meeting with an important client, most shared office spaces are located in prestigious areas which will enhance your business reputation.
In addition to the above, most shared office facilities also offer the services of their staff. So if you’re having a meeting with important clients or business associates, you may also have access to copy and fax machines, the use of their receptionist or other staff who could assist with things such as printing and distributing meeting documents, coordinating refreshments and more.
If you have commercial space available, now might be a good time to offer space-as-a-service. It is a great business model to use as an alternative to the traditional office space and leasing model.