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Industry glossary

Crowdfunding is the process of increasing financial support for a project or venture via raising money from investors, who each contribute money into the business. This method of funding is often used by start-ups and developing businesses to help them develop initial growth.

Seed funding is the first round of equity-building that a business can take part in, the aim being to finance the initial stages of a new venture. An investor will usually provide money to the company in exchange for security, typically in the form of an equity stake in the business. If successful, this stage can be followed by an even bigger Series A round of funding.

A serviced office provides a mixture of private office suites, all set up with furniture and ready to occupy almost immediately. The suites benefit from access to shared kitchens and communal breakout areas, as well as access to meeting rooms and other amenities that the building might offer. All costs are rolled into a single monthly bill that includes everything from cleaning, tea and coffee, business rates and the rent. The offices are usually available from 1 month leases, but contracts can also be as long as 12 months.

A membership is a licence agreement between a flexible office space provider and an occupant. Memberships are offered on flexible terms and are usually paid on a monthly basis.

Venture capital (VC) funding is a way for larger businesses to invest in start-ups and smaller companies that they believe have growth potential. This investment can be in the form of money or expertise; both aim to help the start-up develop and grow in value.

Often based within a flexible office, incubators and accelerators provide office space, expertise, and in some cases capital, to help entrepreneurs build their business. Space is usually taken for a finite amount of time i.e., that company will either succeed where it is able to grow out of the space, or it leaves if enough growth isn't achieved.

Hot-desking is a system used in offices or coworking spaces where some, or all, of the desks are available for anybody to use as requested. Hot-desking allows teams to move around an office space more fluidly, encouraging collaborative working.

An angel investor is an individual who injects their own money into a start-up in exchange for a stake in the company. Businesses will usually work with an angel investor if they don't want to raise finances via bank loans or seed funding.

The hub and spoke model is a system were a company will have one central hub - which are the business headquarters - and a network of offices spread out based on talent and client needs; these are the spokes. It is often implemented by businesses where the HQ maintains oversight across its regional offices. Check out our handy article for more detail on the hub and spoke model, and how it benefits the flexible office sector:

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Workthere FAQs

Workthere is a specialist advisor on flexible office workspaces. We offer businesses a completely free service to find the ideal office for their needs, and manage the entire process from the initial search through to contract negotiation. We also advise operators who are scaling their space, and landlords looking to deliver space to potential occupants. Workthere was set up by Savills in 2017 to provide advice to clients in the office rental sector, and currently operates across Europe, Asia and North America.

Workthere helps businesses find flexible office space, including private, self-contained, co-working fixed desks and hot desk areas, as well as serviced laboratory space.

Being part of Savills, we have over 40,000 office experts all over the globe, and are able to help clients wherever they are looking for space. You can quickly search for an office using our interactive map out to our local teams who can help you explore your options.

Looking for a new office space?

Whilst we can't help you with the actual move, we can offer advice to make the process as smooth as possible. Check out our handy moving office checklist to ensure no important actions are missed ahead of the big day.

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First of all, we take the time to learn about your business and the drivers behind your office search; this way, we can better source the right space for your business' needs. We have a database containing thousands of office spaces, and based on your requirements, our advisors will provide you with a tailored list of options. Once you have decided on your preferred office, we will then arrange all of the viewings for you at a time and date that's convenient for you. When you are confident that you have found your perfect space, we'll use our extensive market data and insight to help negotiate the terms, ensuring you get the best deal possible.

Absolutely! We have a provider portal where you can easily add and update your listings on our site. First, you need to register for an account, which you can do here: https://www.workthere.com/en-gb/dashboard/register/. Please note that before your listing will be visible on our site, you will need to sign our terms and conditions. Once you have submitted your listing, one of the team will reach out with the terms for you to review and sign.

A coworking membership tends to vary depending on the operator. However, the majority of memberships will include Wi-Fi access, shared breakout areas, access to a kitchen area and furniture. Many will also include things like tea/coffee, meeting rooms and a receptionist. Some memberships offer additional facilities such as an on-site gym, roof terrace, or even a cafe.

Flexible and coworking spaces typically include a mixture of office types. If you choose a private office, this would mean you have the benefits of your own office and additional privacy, with the shared facilities that a coworking space offers, such as breakout areas, kitchens, meeting rooms, and more.

The main types of rentable office spaces are: A fixed desk within a coworking space, where you have a dedicated desk in a shared office - https://www.workthere.com/en-gb/co-working-space/, a hot desk, where you can pick and choose whichever desk you like - https://www.workthere.com/en-gb/hot-desking-space/, private offices, which grant a secure space with shared facilities in the office building https://www.workthere.com/en-gb/private-office/, and self-contained offices, where a business takes an entire floor within an office complex https://www.workthere.com/en-gb/self-contained/

Coworking offers a wide range of benefits for both businesses and employees, including flexible contracts to help teams easily scale their space, and increased networking opportunities with other businesses. Take a look at our guide for more benefits that coworking can provide:

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Coworking costs can vary depending on the location you are looking in, and which operator you decide to go for. Some coworking spaces enable you to drop in and pay as you go, whilst others will have a fixed monthly fee. A coworking office can vary anywhere from £200 to £800 per person each month.

Yes! There are two ways of doing this: either you can sign up for a membership at certain flexible office operators, where you can work across the different locations they have available, or you can sign up for an on-demand pass. With this, you have access to a wide range of different coworking offices and operators globally, and can book coworking spaces as and when required using a credits system. If you are interested in this or would like more information, please reach out to the team who would be happy to provide more information.

Contact us

Our objective is to make your office-searching experience as seamless and easy as possible. You get a single, expert point of contact, and their role is to filter all the different information and deliver only what is relevant to your office search. We work with thousands of spaces and operators, enabling us to unearth any office option, whatever the search might be. Our market-leading data, research and insight means our experts are on-hand to ensure you not only get the best space for your needs, but also on the best terms possible. Finally, because we are part of Savills, a leading global real estate provider, we can assist you regardless or where you are or what your office requirement is.

We offer a completely free service to businesses looking for an office space, so we will not charge you a fee or service charge. Plus, we can often save you money by helping you negotiate the best possible price on your office.

Flexible office space glossary

Flexible office space is the blanket term used to cover the various different types of office space, from coworking to serviced offices. These spaces are furnished and ready to use, available on a monthly contract with all costs rolled into one monthly fee. They are ‘flexible’ because the monthly or 12-month contract provides the freedom to scale up or down when needed, compared to a traditional 5 or 10 year lease.

A wide range of businesses use flexible office space, from freelancers and start-ups to large global enterprises. It is an attractive option for national or international businesses who might be looking for an impressive, spacious HQ, swing space for a particular project, or a regional hub that is closer to where employees live. Flexible office space is also an ideal choice for small businesses and freelancers, as its scalability can help attract top talent and also reduce business costs. For companies that are rapidly growing and have changing headcounts, such as start-ups and scale-ups, having the ability to adapt your work space easily is a great benefit, too.

There are a few different types of flexible office space available. The main types include a fixed desk within a shared office space, which serves as your dedicated desk in an open-plan working environment with other businesses https://www.workthere.com/en-gb/co-working-space/, a hot desk, where you can pick and choose whichever desk you like in a shared office https://www.workthere.com/en-gb/hot-desking-space/, a private, secure office with shared amenities and facilities in the building https://www.workthere.com/en-gb/private-office/, self-contained offices, which are ideal for businesses looking for an entire floor within a building, or a managed office, which is where a business might take a whole building within a serviced office https://www.workthere.com/en-gb/self-contained

Flexible office space is a great option if you are looking for more freedom on your rental terms. Flexible space typically offers contracts which can be anywhere from a monthly rolling cost to a 1-2 year licence agreement; a conventional lease in comparison can range from 3-10 years. There are other great benefits to using flexible office space, such as a wide range of on-site amenities, reduced office costs, and increased collaboration with other teams.

Coworking glossary

You can easily search and compare thousands of coworking spaces across the world via our online platform: https://www.workthere.com/en-gb/co-working-space/. Alternatively, you can get in touch with our team of experts who would be delighted to run through your requirements and advise you on what office would best meet your needs.

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A coworking office is typically a building or several floors of office space, where there is a combination of open-plan communal areas and private work environments. These range in size, from entire floors with 150 - 200 desks, to small private offices. They usually come with a wide range of excellent on-site amenities, such as shared breakout and kitchen areas, bookable meeting rooms and additional facilities such as gyms and cafes. The majority of coworking spaces operate on a fixed monthly cost that includes everything you need (cleaning services, Wi-Fi, tea/coffee etc.), and offer greater flexibility than a typical leased office. Depending on what you need, you can book on a monthly rolling contract or a fixed license across 12 to 24 months.

Coworking spaces provide reduced office costs, increased flexibility, the ability to decrease/increase your office space when needed, and opportunities for collaboration across your team and with other businesses in the building.

There are various factors to consider when looking for an office, such as location, budget and on-site amenities. Another important element to think about is business growth, and what you expect your headcount to be in the next year or so. At Workthere, we can take the hassle out of your office search by providing a shortlist of spaces based on your requirements, as well as offering impartial advice to help you choose the coworking space that suits your business: https://www.workthere.com/en-gb/co-working-space/.

Co-working space

What you need in a coworking space will vary from business to business, but as most coworking spaces are well equipped with furniture, Wi-Fi and shared facilities, you essentially just need your computer and any other day-to-day equipment required for your business to run as normal.

Coworking spaces are increasingly becoming a popular choice for businesses due to the flexibility and wide range of benefits they provide, such as one fixed monthly cost and the ability to easily scale up and down office space as required - not to mention they also provide teams with best-in-class amenities and facilities.

A coworking space typically encompasses a shared working environment, often with an open-plan setup, and either dedicated desks for individuals or hot desks to provide a more flexible seating arrangement. A common serviced office will offer a mixture of dedicated private suites for teams of 1-100+ people, coupled with shared breakout areas, conference rooms and common areas such as outdoor terraces. It can also include a small coworking area as part of the offer.

Typically, you can expect your coworking space to have shared kitchens, breakout spaces, bathrooms and meeting rooms. Some coworking office will also include cafes, gyms, and recording studios, as well as outdoor terraces exclusively for use by their members.

Coworking spaces can cost differently depending on what location you are looking to work in, and what type of office space you are seeking. For more information on the current average desk prices across the UK and London, check out our informative guide.

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Coworking spaces don't always come with monitors, so make sure to ask ahead of time if you will need to provide these yourself. However, coworking offices will come with furniture such as work desks; you will just need to bring any computer equipment that is required.

Hot desking glossary

Hot-desking offers a very high degree of flexibility, and is a great option for teams that only require desks for a few days a week. It is also an ideal choice for individuals that travel for work and need to have access to office space across different locations.

Hot desking space

General information glossary

Our online platform has thousands of office spaces, and allows you to easily find the right one for your team, wherever you're based https://www.workthere.com/en-gb/flexible-office-space/. We have a great team of market experts who will manage the entire process from the initial search, right the way through to contract negotiation. So, whether you are looking for a one-person office, a space for 200+ people, or multiple offices across different countries, our team can help.

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This varies among providers, operators and from building to building, based on the design and configuration of the office. Typically, flexible office spaces within a shared ecosystem will provide 1 desk to 50-70 square feet. Self-contained and private office suites are often designed to accommodate employees at a ratio of 1 employee for every 100-175 square feet. This can also vary based on the number of private offices and conference rooms contained in the layout.

It's free to list your space on our website by following these simple steps: 1. Create an account 2. Add your company information 3. Fill in the location details for the company 4. Enter the property details for each location, including a description and list of available facilities 5. Upload high-quality images (PLEASE NOTE: each image must be under 1 MB in file size) 6. Fill in the space you have available. Our useful guide (https://www.workthere.com/en-gb/list-your-space/) will take you through each step in more detail, but if you get stuck, contact our team - we're here to help!

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This largely depends on the type of workspace you're getting and your business requirements, but often many of the workspaces are ready to plug in and play which helps facilitate a quick move. For coworking memberships, you can move in as early as the next day in some cases. A private office can vary more depending on your business requirements and when the office is available to move into. For example, if you require any specific fit-out changes or personalisations, it may require some additional time before you can move into your new space.

Once you've found an office space that will work for your team, you can either book a viewing through our website or get in touch with our experts.

Get in touch

Absolutely! Flexible office space makes for a fantastic short-term work environment, thanks to the varied lease lengths you can book. If you need a bit more space, you can also rent private offices for temporary accommodation - known as swing space - for a matter of months during an office relocation, or for project space.

No, the monthly cost of a private office and coworking space is inclusive of business rates.

Your budget when looking for an office space will depend on several factors, including the location you are looking to be in, and how much space you require. A larger office can cost far more than a small work area, so make sure you're only budgeting for exactly the size of office your team needs. With flexible office space, typically everything is included in one monthly cost, which makes it much more straightforward when calculating budgets. If you are looking for more information on how much you can expect to pay per desk, take a look at our handy rental tone maps that give an overview of the average monthly rental price, based on a desk within a private office.

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To help you find the right size office for 25 people, take a look at our handy guide. This will take you through each of the different factors that determine office size suitability:

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In London, 100 sqft per person is generally considered the average amount of total space required, with 50% allocated for desk space and the other 50% for communal areas. With coworking and flexible office space, you have access to shared amenities like the kitchen, which can make calculating the space you need per person that much easier. When determining room for each person per desk, this can range from 45-55 sqft, with medium-sized desk space taking up 65-75 sqft, and larger desk space ranging from 85-100 sqft. For more information on how much office space is needed per person, our detailed guide has you covered.

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