If you work in commercial real estate or searched for commercial properties, you might have seen the term ‘flex space’ pop up. But what are flex spaces and how are they useful for the modern-day business owner?
Broadly defined, a flex, or flexible, space is used to denote buildings that have a combination of office/retail and warehouse space. They come in all kinds of sizes and layouts, which can be arranged to meet the needs of various businesses.
There are several advantages of renting a flex space compared to leasing separate office and warehouse properties.
Lower Startup Costs
If you’re a small business, you’re likely to want to minimize your startup costs. Flex spaces offer that affordability, as it usually is already set up with basic furniture, design, and engineering.
Also, your name doesn’t have to be on the lease to operate your business out of flex spaces! Some businesses will allow you to use their space for a fixed rate.
Scalability
If your business grows and you need more space for your business, flexible spaces are great in terms of scalability. For example, let’s say your business is booming and you need to move out of the smaller office inside the building. You relocate to a bigger room, but now there’s a vacant office.
Well, you now have a free office lease you can promote to other businesses!
Co-working and Shared Resources
Most flex spaces are used by multiple companies in different industries. This arrangement, which is most commonly known as co-working, has become a lot more popular. Without a flex space, doing so would be much harder.
Shared amenities also make it easier to split costs!
Unlike traditional office spaces, flex spaces, much like their name, offer the flexibility a contemporary entrepreneur needs. At Key Coworking, we consider ourselves the best flex space for you to network, workshop, and build your business.
