Around the world, coworking spaces offer freelancers, digital nomads, small businesses and startups the opportunity to have amazing workspaces, without paying the traditional fees associated with a purpose-built office space.
As an entrepreneur, you are faced with significant decisions to know where you and your employees will be working. When you explore the right coworking space, it can offer you an opportunity to engage in a beautiful space while keeping your expenses low and expanding your business.
Coworking spaces are impressively cost-effective when compared to a traditional office space lease.
Here are some ways in which a coworking space can help you save significantly on the overall time and money:
1/ Pre-Designed And Furnished Office
When you rent an office in a coworking space for your team and business, there is typically no need to worry about office essentials like office chairs, filing cabinets, and desks. Your coworking spaces are typically decorated in new, inspiring and functional furniture and decor. This helps in saving you time and ample energy to convert a clinical room into something beautiful for your team and clients.This is opposed to traditionally renting a leased office space, which will mostly be available as an empty shell. You will be required to purchase all the fittings and fixtures by yourself. Outfitting a dedicated office space is expensive and time-consuming.
2/ Pay For The Space, Say Hello To Amenities
Coworking office amenities like kitchens, washrooms, break rooms, shower rooms and lounge areas tend to be communal and managed services. Typically coworking spaces take care of these aspects and you pay for the dedicated space that you and your team are using.This can be a major saver!
3/ Say Goodbye To A Lot Of Bills
While renting a leased office space, businesses are expected to pay for specific utilities including water, electricity and water on top of the monthly rent. Depending on your lease agreement, regular plumbing, cleaning, gardening and access to parking. It will all add up eventually.
With most coworking spaces, like ours at JAGA, these aspects are taken care of properly, without you having to worry. If you run and own your business and you have to take care of all these ‘extras’ yourself – or you employ an office manager to do this for you, that’s another cost that could be minimised when you move to a coworking space. Similarly, without having to worry and spend time coordinating these efforts, your presence in a coworking space will offer more time to focus on the core requirements of your business.
With most coworking spaces, like ours at JAGA, these aspects are taken care of properly, without you having to worry. If you run and own your business and you have to take care of all these ‘extras’ yourself – or you employ an office manager to do this for you, that’s another cost that could be minimised when you move to a coworking space. Similarly, without having to worry and spend time coordinating these efforts, your presence in a coworking space will offer more time to focus on the core requirements of your business.
4/ Access to Flexible Space As You Grow
Any business that looks forward to expanding will be taking a major risk in renting a larger leased office space with the thought you will ‘grow into it’. Startups or small businesses cannot be sure that they will outgrow or expand in the given space.
When you use a coworking space, it eliminates the issue. You can look forward to renting the same amounts of desks or size of office that you needed initially. Then, you can jump to larger spaces when your team and company grows. By utilising coworking spaces you can think bigger geographically, setting up different teams based in different cities or states, should the need arise, without having to move your Head Quarters.
When you use a coworking space, it eliminates the issue. You can look forward to renting the same amounts of desks or size of office that you needed initially. Then, you can jump to larger spaces when your team and company grows. By utilising coworking spaces you can think bigger geographically, setting up different teams based in different cities or states, should the need arise, without having to move your Head Quarters.
5/ Absence of Exit Fees
When you leave a leased office at the rental term’s end, you are usually charged for professional maintenance, professional cleaning, returning the office to its original state and any outstanding utilities. When you decide to exit a coworking space, you skip these additional costs. Winning!
6/ Reduced Team Costs
Traditionally renting an office could see your team expand to include an office manager, a receptionist, and maybe even an IT operations person. Mostly, coworking spaces have employees spanning these administrative duties and you won’t need to factor in that cost. Especially if you also used a managed office service with phone and post services.
In some cases, you might be required to pay an additional pay-as-you-go fee for support staff. However, it is quite minimal in comparison to the actual wages. Your business and team can spend the dollars where you really need them, hiring the right team who will lead to growth in your business.
In some cases, you might be required to pay an additional pay-as-you-go fee for support staff. However, it is quite minimal in comparison to the actual wages. Your business and team can spend the dollars where you really need them, hiring the right team who will lead to growth in your business.
7/ Effective Collaboration and Networking
While not a money-saving point, the opportunities of networking in a coworking space can offer extra sources of income while aiding the overall growth of your company. Coworking spaces are mostly used by a number of small to medium-sized companies, freelancers, and even remote workers. The overall networking opportunities tend to be endless.
When your business (and you) come into contact with a number of creative individuals, the recruitment process for staff as your business grows will become easier and less expensive.
When your business (and you) come into contact with a number of creative individuals, the recruitment process for staff as your business grows will become easier and less expensive.
8/Time and Meetings
Coworking spaces and their light-filled, airy spaces (like ours at JAGA) are perfect for team and client meetings. You will have minimal need to travel to your clients or partners – they will want to come to you! If you ever need meeting rooms you won’t have to search far as most coworking spaces will have an ample number of rooms to hire available for you. When you have access to a shared working space or office as well as purpose-built meeting rooms can help you in maintaining a professional, strategic business.
Ultimately, coworking spaces help in saving you both time and money by taking care of the entire space for you. Search for the best one in your area. If your business is based in the ACT, Canberra, please visit our two locations: Allara Street and Swanson Court for more information on what we can offer you at JAGA.
Ultimately, coworking spaces help in saving you both time and money by taking care of the entire space for you. Search for the best one in your area. If your business is based in the ACT, Canberra, please visit our two locations: Allara Street and Swanson Court for more information on what we can offer you at JAGA.
