Coworking Solutions – Sourcing Office Space for Toronto’s Tech Sector

In an age marked by rapid change, technology continues to dramatically dominant the way life is lived, work gets done and leisure unfolds.

Demand Exceeds Supply

Beyond its pervasive impact on life in general, Toronto’s flourishing tech sector is squeezing the existing supply of the city’s office space…with no immediate reprieve in sight.

As well, changing expectations find workers increasingly invested in achieving a more equitable work-life balance. Thus, they are seeking more…most often defined as a workplace that offers agility and flexibility…which notably has fueled the rise of the coworking sector.

Toronto currently has the distinction of being the tightest office property market in North America. As well, Canada’s booming tech sector is slated to continue as a major force for innovation and a reliable source for economic growth.  CBRE’s Annual Tech Talent Scorecard reveals the city has claimed the #4 spot.  As these trends overlap, commercial agents sourcing professional office space in Toronto suitable for technology firms will likely face challenges for the foreseeable future.

Numbers Tell the Tech Story…

Cushman & Wakefield’s Office MarketBeat, the quarterly summary of the commercial real estate that analyzes recent trends and market data in key cities, reports:

  • The third quarter of 2018 in downtown Toronto saw the city retain its edge as largest and fastest growing office market in Canada.
  • Downtown office availability in Toronto plummeted for a fifth consecutive quarter to yet another historic low of 2.3%.
  • The technology sector is one of the main engines driving heightened demand with the tech scene stimulating more than 30% of the city’s office growth in the past year.
  • With demand projected to remain steady in the short term, downtown Toronto will have limited office availability which may constrain growth and manifest in upward pressure on rental rates.

Also detailed in the MarketBeat summary, overall availability, which takes into account inventory in a city’s fringe, in major Canadian markets is now in a rock-bottom 1.5%, which has caused downtown average net rent to climb by 16.7% year-over-year.

Technically Speaking…

Given Toronto’s tech scene’s volatile growth, this marked shortage of appropriate office space is the number one challenge facing commercial agents and their potential tech tenants. In 2017 in downtown Toronto, the tech sector alone accounted for more than a third of demand for office space. No mystery then that proactive and solutions-driven commercial real estate professionals recognize that coworking spaces are the ideal solution for their Toronto-based tech sector clients.

In 2017 in downtown Toronto, the tech sector alone accounted for more than a third of demand for office space.

Having evolved well beyond the original ‘start-up’ concept, coworking remains an excellent model for today’s next-generation of tech firms. Offering prime space in key locations complete with state-of-the-art technology, shared amenities and common spaces, measurable financial advantages and a degree of flexibility unavailable with traditional arrangements, coworking also contributes to the organic exchange of best practices and professional expertise.

Savvy commercial agents acknowledge coworking can be the best answer to a tech client’s dual desire for high-functioning office space that also serves as a platform for agile working solutions. Likewise, coworking landlords are now investing in partnering with commercial agents. Seeing mutual benefit for themselves and agents, they are cultivating ongoing relationships via formal commission programs and other incentives.

 


If you’d like more information on how our shared office space can work for your clients, call The Professional Centre today at 416-367-1055 or contact us.

 

The Synergy of Coworking and Commercial Real Estate Agents

The Changing Face of an Industry

These are significant days for the coworking segment of the commercial real estate industry. As the very nature of work has been redefined so has the actual physical workplace. Predictably, these combined changes have far-reaching implications for commercial real estate agents that go well beyond commission.

At its most basic, the impressive growth and rapid expansion of the coworking model is fundamentally transforming the way commercial real estate is structured. And coworking’s impact — which relies on innovative use of existing/new office space — is manifesting across the entire commercial real estate ecosystem. Likewise, the industry’s movers and shakers are adjusting and strategizing to adapt to this changing reality.

The Shifting Nature of Work

Today’s economy is primarily compelled by innovation and information versus a reliance on manufacturing. Hence, what constitutes work and the workforce has shifted dramatically as well. With an estimated 400,000 Baby Boomers retiring annually by 2020 in Canada each year, Generation X, and to a greater extent, Millennials and Generation Z will be left to provide the labour to replace them.

Millennials and Gen Z are digital natives who are never without their devices. As they carry everything needed for work with them, their notion of work is no longer tied to a physical place but rather viewed as something extremely transferable. Essentially, for them, the ‘traditional office’ is an outdated concept.

That noted, an Emergent Research survey on coworking found nearly 83 percent of respondents reported joining a coworking space saw them experience less loneliness, reflecting the growing trend towards “working alone together”! Further, the perception is that productivity is enhanced by using a space according to the work that needs to be completed — private offices for focused tasks, meeting rooms for brainstorming, shared common spaces for networking — so today’s ideal workplace needs to revolve around flexibility and choice.

89%

reported they are happier

83%

reported they are less lonely

78%

reported coworking helps keep them sane

 

The Expanding Opportunity for Commercial Agents

Many commercial agents initially hesitated to embrace coworking as the traditional real estate market shifted to the then mostly-unknown model. However, in light of the continuing growth of coworking and its being the preference of the largest block of the workforce, savvy agents are definitely adapting so as to be able to service those who are invested in finding agile working solutions.

Landlords too have come to recognize the inherent value of partnering with commercial agents and have stepped up their efforts to cultivate ongoing relationships. Many now offer formal commission programs. Additionally, they may incentivize agents with promotions that bump up commission, allow bonuses to be earned or offer financial rewards for referrals.

Wise commercial agents also recognize coworking’s appeal has spread well beyond the original cohort of freelancers and start-ups and now includes many larger corporations as well.

Wise commercial agents also recognize coworking’s appeal has spread well beyond the original cohort of freelancers and start-ups and now includes many larger corporations as well. These bigger players find coworking makes it easier to attract new talent and also increases employee productivity since coworking is seen as a perk.

The Evolving Coworking Landscape

Big picture: Coworking is here to stay and is projected to continue growing. More commercial landlords will be building from the ground up to accommodate cosharing. As well, they’ll be developing strong brands to effectively compete and attract users. Conversely, tenants, possessed of considerably more flexibility, will be increasingly regarded as guests and the workplace viewed as a hospitality platform designed to enhance work-life balance.

As coworking’s influence manifests across the commercial real estate spectrum, increasing numbers of commercial real estate clients are giving coworking the serious consideration it deserves. To be sure, brokers are definitely navigating a new landscape wherein exceeding client expectations will demand a swift response, flexibility, and coworking expertise.

…brokers are definitely navigating a new landscape wherein exceeding client expectations will demand a swift response, flexibility, and coworking expertise.

Clearly, the coworking train has left the station and successful commercial agents would do well to join their competitors who are already on board! Commercial agents who work in tandem with clients to identify innovative workplace solutions are building solid relationships. Finding these clients, whether non-traditional workers or large corporations, a dynamic workplace with affordable overhead that can adapt along as growth demands, is a rewarding business!


If you’d like more information on how our shared office space can work for your clients, call The Professional Centre today at 416-367-1055 or contact us.

Coworking – Trading Myths for Facts

The number of professionals choosing the many benefits of coworking over using a traditional office continues to grow across multiple disciplines and industries. GCUC’s, the world’s largest Coworking conference series,  2018-global-coworking-forecast projects there will be approximately 30,500 spaces and over 5 million members by 2022.

With workers demanding greater workplace agility, coworking really is an ideal solution for corporations, entrepreneurs and remote/non-traditional employees alike. But as with any development that challenges long-held business norms, some still remain skeptical. Let’s explore some stubborn coworking myths…

Myth – Coworking is only for freelancers!

Fact: Many businesses-from large corporations to innovative start-ups-are embracing cosharing. Progressive companies are thinking outside the standard cubicle and utilizing coworking spaces to:

  • Secure desirable, but still-affordable, satellite-office space that includes all the required amenities.
  • Support remote/non-traditional employees by allowing access to a collaborative environment with state-of-the-art technology.
  • Host off-site meetings in coworking meeting rooms as an alternative to more expensive hotels.
  • Stimulate increased productivity and innovation from non-traditional employees via the flexibility and collaboration found in a coworking space.

Myth:  Coworking Spaces Are Noisy and Distracting!

Fact: A new survey by Clutch, a leading B2B research, ratings, and reviews company, found over half (54%) of employees with an option to telework say they are most productive when working outside of a traditional office such as in a coworking space.

Certainly, coworking spaces encourage community and collaboration. Indeed, 25% of the Clutch survey respondents cited access to a professional community as the main benefit of coworking. Being surrounded by other highly-motivated individuals who want a professional environment means work gets done!

Coworking facilities also provide multiple options–ranging from open-desk seating to dedicated desks as well as private offices–allowing individuals to select the space that sees them perform best! The reality is coworking spaces are designed for work!

Myth: Coworking Works Only for Certain Sectors!

Fact:  Coworking actually appeals to a broad range of companies and industries. Currently, IT, public relations and marketing & sales are the dominating industries for coworkers. But many diverse industries have begun embracing the business model. As the concept gets older and coworking spaces evolve, so do the individuals who use them. As such, it’s increasingly workable for a wider range of people and organizations.

Clearly, startups continue to enthusiastically embrace coworking spaces. But even traditionally conservative disciplines, such as the legal profession, are beginning to appreciate the cost savings, flexibility and professional environment they offer. Of note, niche coworking spaces that provide sophisticated, upscale spaces in prime locations are successfully attracting people who would not typically consider larger, less-sophisticated cosharing options.

Myth: Coworking Is Costly!

Fact: Comparatively speaking, coworking is definitely more-affordable than securing traditional office space. Flexible rental terms allow companies to reduce their exposure to long-term leases. Whether a new undertaking or an established business, coworking also minimizes overhead via savings on:

  • administrative support
  • state-of-the-art technology
  • shared common areas such as reception areas, lounges and kitchens
  • ancillary costs such as office cleaning

Companies can then invest these saving where it matters…in growing the business.

Harvard Business Review reports that coworking is seeing increased acceptance as more professionals begin to appreciate that any presumed shortcomings are actually myths. In fact, their study found that people who work in coworking spaces are flourishing. How come? These coworkers feel their work is significant. They report having more control over it. And they find validation in operating as part of a like-minded community.

 


If you’d like to find out more information on how shared office space can work for you, call The Professional Centre today at 416-367-1055 or contact us.

Coworking for Remote and Non-Traditional Employees

One of the clearest signs that the nature of work is evolving is the explosion of freelancers, independent contractors, contingent workers and virtual/remote employees.  Coworking offers companies that rely on these non-traditional workers flexible, cost-effective options for managing this seismic shift.

A recent report produced by the human resources consulting firm Randstad reveals non-traditional workers currently make up between 20 and 30 per cent of the workplace in Canada.  It’s a number that is projected to grow as more professionals across multiple industries elect to forgo traditional working arrangements, and consequently, traditional office space. Yet they still want and need to conduct business in an appropriate and sophisticated setting. Coworking spaces perfectly fill the void!

Consider some of the benefits…

Coworking promotes an office culture:

For all its advantages, working outside a traditional office setting can be challenging. Consequently, non-traditional workers cite feeling isolated. Additionally, they frequently report time-management and productivity issues. Remote employees can struggle with feeling out of the company loop. As well, they worry about missing out on advancement opportunities. Likewise, independent contractors and freelancers have concerns about adequately communicating with employers.

Cosharing spaces solve these issues by offering a potent mix of flexibility and community. Coworking creates opportunities to connect with other professionals who are also using the space. State-of-the-art technology helps streamline tasks! It also fosters connections with employers — regardless of their location — which sees everyone working on the same page. Welcoming common spaces promote an office culture and further, encourages informal relationship-building. This leads to remote employees who are engaged, aspirational and who perform better overall.

Coworking improves productivity and job satisfaction

Non-traditional employees who are coworking perceive it has a positive impact on their productivity and work-life balance. Most noteworthy, according to Deskmag’s annual Global Coworking Survey:

64%

reported an improvement in meeting deadlines

68%

reported better focus

71%

reported an increase in creativity

50%

reported higher incomes


Generally, workers in a coworking office space report seeing their work as meaningful and feel more in control of their job.

Professional Development

Without question, remote employees are as invested in their professional development as their traditional office counterparts are. Cosharing is an effective strategy to help remote employees develop and further their careers. It allows non-traditional employees significant opportunity to interact and collaborate with groups of diverse professionals from different industries. Research indicates this broad exposure supports innovation and increased productivity.

Being able to discuss ideas, and solicit advice with other professionals means remote and non-traditional workers can grow both their own and the company’s professional networks. Hence, through this informal collaboration, they learn and develop their skill-set.

TPC’s sophisticated coworking spaces bring together like-minded professionals who collaborate, network, brainstorm…and get work done! Discover the most productive and profitable environment for your remote workers and contract space now!

 


To fully explore our newest location in the heart of Toronto’s Financial District, click here. To learn about the many advantages that utilizing our coworking space offers, contact The Professional Centre at 416-367-1055 or please click here.

Top 10 Reasons to Bring Your Business to Toronto

Choosing where to locate a business is one of the most important decisions to be made when planning a new venture. Since location can directly impact so many key aspects of how a company operates, it’s just solid planning to choose wisely. Here’s ten top reasons why Toronto is the right choice:

#10

Globally Competitive

According to Forbes, Canada offers a top-five business-friendly environment among G20 countries. To earn the designation, the country was ranked on eleven different measures comparing business regulations across environments including factors such as innovation, taxes, technology and market performance. And the World Economic Forum’s Global Competitiveness Index (GCI), which ranks 140 countries based upon 114 indicators that help determine productivity, reveals Canada’s top 10 rankings in health, education and labour markets all of which favourably drive Canada’s competitiveness. As Ontario’s capital and the country’s largest urban centre, Toronto is truly in the thick of it!

#9

Highly-Educated Talent

According to the 2016 Census, Canadians, to include recent immigrants, are among the most educated populace in the world. At 67%, Ontario has the highest proportion of college graduates among developed nations.

#8

Sustainability

The Sustainable Cities Index carried out by the Centre for Economics and Business Research (Cebr), ranks Toronto as North America’s most sustainable city. Toronto secured a first-place finish in ‘environmental performance’ for all of North America and is ranked ninth globally. As business begins to grapple with the implications of environmental challenges and potential future impacts, it pays to do business in a city that gets it.

#7

Size

Toronto is the fourth largest city in North America behind only Mexico City, New York City and Los Angeles. The most populous city in Canada and the largest urban and metro area, Toronto proper has an estimated population of 2.81 million while the Greater Toronto Area (GTA) claims a much larger population of 5.5 million. That spells access to a lot of customers, clients, and talent.

#6

Competitive tax advantage

As recently noted by KPMG’s Competitive Alternatives, a biannual comparison of business location costs across 100 cities in North America, Europe and Asia-Pacific, since 2012 Canada has improved its cost competitiveness over the U.S. by higher than 10%. Currently, Canada ranks first in the G7 for corporate tax rate and cost competitiveness, currently offering a 14.6% cost advantage over the U.S.

#5

Quality-of-Life

According to Mercer’s 2016 Quality of Living index, a study of 430 locations around the world, Toronto is second in the Americas. The multi-cultural and thriving commercial capital received high marks for factors such as personal safety, its educational system and economic environment. Toronto is consistently viewed as a safe and responsible place to live, work and do business. Those in the know, including The Economist, Metropolis Magazine, ECA International and many others frequently laud Toronto for its overall livability.

#4

Headquarters

Success can often be an offshoot of the company you keep and since Canada’s stable political and social environment continues to attract multinational corporations and their employees, in Toronto you’ll be in good company indeed. According to Edelman’s 2016 Trust Barometer, the well-regarded trust and credibility survey, companies headquartered in Canada are ranked the most trusted in the world with Canadian companies receiving a 66% approval rating.

#3

Reliable Labour

Toronto has an abundant pool of talent and its labour force that is consistently categorized as among the most reliable in the world. AON Consulting’s People Index Ratings ranked Toronto third out of 90 global cities, ahead of major centres such as London, Los Angeles and Hong Kong. AON reports Canada’s strength relies on this critical area results from its commitment to strong labour laws, government-mandated health & retirement benefits, an absence of corruption and the availability of high-quality and comprehensive training.

#2

Entrepreneurial Drive

When starting a new venture, success relies in part on being able to mobilize and capitalize on new ideas. Trading on that energy requires access to like-minded individuals who are equally committed to innovation and are navigating similar challenges. According to the Global Entrepreneurship Development Institute (GEDI). Canada is the second most entrepreneurial country in the world with its high rating reflective of the country’s highly-skilled human capital and robust entrepreneurial abilities.

#1

TPC’s Shared Workplace Solution

Opening December 2018, TPC’s (The Professional Centre) latest exciting coworking space is situated directly in the heart of Toronto’s thriving financial district. The ideal location to establish a new venture, it offers incredible space that is thoughtfully designed and built by professionals for professionals. Melding an upscale esthetic with outstanding function and services, TPC’s coworking office space will allow your business to secure an extraordinary workplace in Toronto minus the usual hassle associated with locating a space to set up shop. Delivering all the perks of a prime location without forgoing affordability, the money you can save cosharing is money you can use for additional investment and to finance innovation and growth for your company. Newcomers to Toronto contracting for TPC’s latest cosharing space will also immediately benefit from access to a collaborative community and instantaneous local professional connections.


To fully explore our new location, click here. To learn about the many advantages that utilizing our coworking space offers, contact The Professional Centre at 416-367-1055 or please click here.

Alternative Workplace Solutions for Lawyers

We’ve all watched TV legal dramas such as Suits, The Good Wife and Boston Legal just to name a few. Most of these shows feature sharply-dressed lawyers collaborating against the backdrop of an upscale, prestigious office.  While still the norm, many progressive entrepreneurial legal firms are embracing modern technology and leaving behind this traditional way of practising.

Streamlined Productivity

Unlike as shown on these TV shows, a growing number of small to mid-size litigation firms have joined a revolution-of-sorts, conducting a large portion of business through the internet, often from different cities. These innovative companies are challenging the idea that associates need to gather in a single brick-and-mortar location to perform effectively. Instead, using coworking spaces as home-base, they are utilizing state-of-the-art technology to successfully run law firms via customizable, cloud-based law practice management software.

Lower Overhead

Reaping a measurable reward for this innovation via an improved bottom line, legal firms utilizing coworking spaces significantly reduce the operating costs associated with traditional office rental…but without sacrificing any of the necessary amenities–such as access to a board room, meeting space and kitchen and lounge areas.

By avoiding the obligation to buy into lengthy property leases and circumventing the requirement for long-term financial guarantees, firms choosing to utilize coworking spaces can save hundreds of thousands of dollars every year. With technology affording the ability to work effectively remotely, there’s no need to commit to a multi-year rental agreement, which often eliminates the single most expensive budget-item on a law firm’s monthly fixed expenses. The cost-savings can be huge!

As well, those companies that jettison the overhead that is associated with securing traditional office space can pass those savings along to clients which affords a major competitive edge.

Affordable Luxury

Even if managing a successful remote practice, there are still times when attorneys need a place to convene. Clients continue to expect face-to face meetings, and you can’t conduct a deposition in the local coffee shop! Office space may be required simply to prep vast quantities of confidential documents for court or as an area in which to further evaluate trial proceedings.  Utilizing a home-based office isn’t always a workable or professional option. Hence, a shared workspace is an incredibly cost-effective solution. Attorneys and/or support staff can access upscale, fully-functional, private offices as needed for a day, a month or longer, but the business only pays for the time it uses.

Value-added Amenities

Coworking spaces offer legal firms everything a bricks-and-mortar office does, but for a fraction of the cost. Membership includes a variety of services proven to be essential to the legal profession during different phases of business. As well as internet access, conference rooms with the latest audio and video equipment, event space and experienced administrative and IT support, firms can handpick specifics like outsourcing phone calls, private mailbox rental and reception service.

Non-Traditional Workplaces

Building a successful law practice can come down to many factors. Being prepared to think outside the box, i.e. a costly traditional office set-up, in favor of a coworking space can help assure success. The Professional Centre offers a smart mix of cosharing office solutions that will deliver improved efficiency, flexibility and savings.

Global presence

When a law firm sets its sights on expanding internationally, adopting a physical presence in a cosharing space in a new city is a savvy and cost-effective way for the practice to build the business elsewhere, while maintaining base operations back at headquarters.

First Impressions

For a legal firm that’s anxious to foster the right impression, it’s vital that the workplace is strategically located and the space is engaging and high-end. When considering a firm’s physical plant, potential along with current clients should feel empowered and motivated enough to allow you to manage their sensitive legal issues.

As real-estate prices are sky-high in most major cities, finding an affordable option can be challenging quest. And as a business with an as-yet unclear future, signing a long-term lease makes no sense. Opting for a less expensive space that’s short on prestige could be detrimental for a business that’s elementally founded on trust.  Securing a collaborative, cost-effective shared workspace will project that desirable air of professionalism but without the risky investment.

Utilizing a coworking space until the business is fully established offers satellite law firms an affordable base from which to grow the company while acknowledging that credibility is raised when a business card details an notable address or you schedule a meeting at an upscale financial-district location. Beyond prestige, these fully-equipped spaces include internet, phone, printers, copiers, white boards and everything else required to run a successful company.  

In-House Support

With fully-qualified Admin/IT support at the ready, small to mid-size firms using coworking spaces have access to the resources they need when they are initially establishing a presence. For nascent, or satellite firms who are often lacking day-to-day back up from ‘head office’, the support of a trained receptionist to greet important visitors or the assistance of a qualified secretary to field critical calls, can position a new practice for success.

Collaborative Opportunities

One of the key advantages of shared office space is access to a network of peers. For a satellite law firm unfamiliar with local markets, this community can prove an invaluable resource. Gaining insights and advice from other in-market attorneys can prove invaluable in achieving your business goals.

Scaling for Growth

Whether your law firm is considering opening one new branch, multiple practices internationally or simply relocating, proper planning, market research and a clear idea of your objectives is essential. It’s just good sense to consider how utilizing a coworking space can contain your total financial investment while still maintaining your firm’s high standards as it integrates into new markets. The cost-savings and infrastructure support could mean the difference between success and failure.


To fully explore the many advantages that utilizing a coworking space offers your legal business, contact The Professional Centre on 416-367-1055 or please click here.

Shared office space – It’s not only for millennials!

Shot of three colleagues having a meeting in an office

According to the most recent census, the baby boomer generation represents close to 3 in 10 of all Canadians. That’s 9.6 million people either at retirement age or nearing it. But, this generation aren’t all giving up work or settling into babysitting the grandchildren – many are choosing to stay in the workforce or even start up new businesses. In their bid for success, risk-adverse boomers are turning this this mid-life transition period into thriving businesses, and taking advantage of their new found freedom to follow dreams

Moving (office) with the times

While boomers are leaving behind the inflexibility of their old job in favour of independence and autonomy, they still want access to all the conveniences the traditional office afforded them – professional working environment, board rooms for presentations, office equipment and support staff etc. But while these ‘seniorpreneurs’ may have carved out their careers when big corner offices and name plaques were a sign of success, they are still smart enough to embrace today’s trend of shared office space.

The evolution of work

One of the biggest influences of this shift in working is the emergence of millennials in the professional world. They have grown up on a diet of collaboration and integration – becoming entrepreneurs, launching start-ups and building companies. Their expectations of where they work have seen a culture of more flexible, imaginative and innovative office spaces that also caters to their social requirements.

This less traditional way to work represents one of the fastest-growing workplace shifts visible in the last decade. As new technologies become available, multi demographics of the labour market have the ability to do more online and, with such a rapid growth in many major Canadian cities, companies are seeking the flexibility of shared and coworking spaces.

Now seasoned entrepreneurs are flocking to join this style of working because it supports their present business needs in a more individualized way. Millennials may have started the trend, but boomers realize that sharing their space in today’s work place can reap real rewards.

Ways boomers are benefitting:

Low overheads

To lease decent office space comes at a price – usually a hefty one! Any location worthy of putting on your business card will put a big dent in your bottom line. If you go the other way and rent cheaply, the investment may not give a professional view of your business and misrepresent the service or product you provide.  Shared office spaces offer a cost-effective solution to renting somewhere modern, stylish and professionally designed in the location you want.  What’s more, you won’t even have to figure in moving expenses as part of your budget.

Equipped for business

As well as being visually appealing spaces to work, boomers are making the most of these turnkey office solutions, stepping in to fully equipped workplaces that include internet, phone, printers, copiers and white boards etc. Without investing in the time and cost it takes to purchase furniture and equipment, members are gaining access to everything they require to run a successful business.

Book when you need

Many businesses don’t require office space every day, or even every week, so why pay for it? A 10-year lease can set a company back hundreds of thousands of dollars. Boomers have found an opportunity that fits around these needs. They lease shared space when it suits them, with packages that include the option to rent coworking/private offices, meeting rooms and boardrooms for a day, a month or more.

Support all round

From receptionists to admin assistance and bookkeeping to IT support, your business is fully backed up by a team of in-house professionals. No more answering your own phone calls while eating lunch or turning your printer off and on again in the hope that it finally prints that important presentation! Membership to shared office space comes with full use of these services whenever required. You can get on with running your business, without the inconvenience, responsibility and cost of repairs and managing staff (training, hiring, sick days and vacation etc.).

Networking neighbours

Modern technology may give us the ability to communicate with clients, customers, suppliers and other stakeholders globally 24/7, but boomers already understand that nothing beats networking with the person sitting right next to you. Shared office space introduces you to dozens of other professionals from both similar and different demographic backgrounds who you may not meet otherwise. What’s more, the people also sharing your space will constantly change, opening up even more potential business connections. According to a smallbizlabs.com survey,  82% of participants said coworking has expanded their professional networks and 80% said they turn to other coworking members for help or guidance.

Environmental success

Of course, having your own business gives you flexibility in your day. With no 9 – 5 or long commute to adhere to, boomers are choosing the work/life balance they want. While some are working remotely from home, others are quickly catching on to the fact that this isn’t necessarily the best option. It might be a nice idea to put together that business proposal from your couch or talk to a client in your sweatpants, but is it a little too comfortable? Shared office space gets you motivated, back into an inspiring work environment and puts the structure and human interaction back in your day.

A space designed for everyone

Whatever kind of workspace solution you’re looking for, there’s a wide range of options to suit. Whether it’s a private office for an individual,  a coworking arrangement for a small consultancy start-up, or just a meeting room required occasionally etc., shared office space offers endless advantages to every demographic in today’s marketplace.


If you’d like to find out more information on how shared office space can work for you, call The Professional Centre today at 416-367-1055 or contact us.