That is one good option and what we do in our group. We have 3 person group all creating and running desktop flows. We login to a virtual machine as our service account to create the flows and share them with all members of the team.
Two other things to be aware of are putting flows in to environments other than the O365 Personal Productivity default environment, and use solutions. So your company should have the ability to create environments, and it is good practice to build and test in different environments from daily run type production. That also helps in keeping flows available after developers leave the company. Then the Solution is how make copies of your flows to either capture point in time backups but also how you move flows between the environments.
Our practice is to develop and test our the flows, when ready to run on production data, we create and export a solution for the flow twice, once as unmanaged and once as managed. The unmanaged solution can be useful if you get down the road and find something changed but you don't remember what, you can import an older unmanaged solution in dev to look at that older flow steps. The managed solution is intended for migrating to production, with the idea that if there are changes needed once you migrate to that production environment, you make those changes in dev, re-export and import the update to prod.
Hope that helps.
