Whether you’re starting a new venture, freelancing, or looking to grow your established business, flexible office may offer cost-savings. New report by Dallas Park Cities coworking
Coworking spaces have a lot to offer new businesses. As any would-be entrepreneur knows, starting a business is a costly endeavor. This is probably why workplace experts predict that half of the workforce in the United States will consist of freelancers and on-demand workers by 2027.
Is coworking right for your business? Whether you’re starting a new venture, freelancing, or looking to grow your established business, coworking may offer cost-savings and other advantages. Here are six things to consider.
1. Reduce Real Estate Costs
The traditional business model calls for renting office space or some kind of brick and mortar location. Unfortunately, commercial real estate leases tend to be quite long, with many landlords asking commercial tenants to commit five or 10 years.
In an area with a great deal of demand, these costs can be a major deterrent to new businesses. However, moving to a different, more affordable location may be unfeasible, as the business won’t be able to reach its target customers in a different area.
With coworking, businesses can have a presence in the communities they serve without paying sky-high prices. Instead of committing to a long-term lease, coworking spaces work on more of a subscription or membership model, with members paying monthly or sometimes even by the hour. You use the space when you need it and only pay when you need it.
The costs of coworking vary, with price depending on location, amenities, how much space you need, and what kind of benefits you’re looking for.
2. All-inclusive Facilities
Another advantage of coworking spaces is the amenities that come with the space. When you rent office space the traditional way, you typically have to buy or lease office furniture, bring in your own printers and office equipment, and furnish conference rooms and other areas.
With a coworking space, these amenities are already on site. Spaces vary, but typical facility amenities include high-speed internet, furniture, access to computer equipment and printers, conference rooms, and kitchen facilities.
These spaces are also maintained by on-site custodians, and some coworking spaces even have their own in-house technical support staff to help with IT troubleshooting.
3. Work-life Balance
Remote work is an increasingly popular option for employees and entrepreneurs, but it can be isolating. Working from home can also be difficult for people who have a busy home life, such as young children.
While it’s sometimes possible to work from a quieter space like a coffee shop, these areas can be unpredictable with respect to noise and other distractions.
Coworking spaces give startups and their workers flexibility, a quiet environment, and an important separation between home and work. It’s possible to run a business from home, but blending work and home life too much can lead to burnout.
No matter how passionate you are about your work, everyone needs breaks. With coworking, you can tend to your business on your schedule — and schedule personal time when you need it.
Coworking offers a chance to connect with other professionals in your area of expertise and outside of it. The ability to mingle with people in other industries can help you forge important connections.
Many startups struggle to find affordable assistance to grow their business. With coworking, new business owners have a unique opportunity to meet people with a wide variety of knowledge and skills.
It’s hard to have a marketplace of ideas if your business and your workforce are isolated in an office or another type of workspace. Coworking gives you the ability to bring your team together, so you can brainstorm and conference in a flexible space.
You can also purchase more time and space if you need to run a short-term conference or work session with consultants or members of your team located around the country. Because space is flexible, you don’t need to worry about finding an offsite location for group projects or other events where you need to accommodate more people.
6. Accommodate Changes in Growth
When a startup business takes off, it often needs to rapidly bring on additional staff. This can be tough to do when you’re limited to a certain size office and perhaps even locked into a five-year lease.
Coworking makes growth easy. As your company takes on new employees, you can adjust your space. Likewise, you can always scale back if you need to cut down on the size of your staff due to cash flow issues or other budgeting concerns. This can give new business owners valuable peace of mind since you’re not locked into a multi-year lease with high overhead costs.
Coworking offers a number of benefits. If you’re starting a new business, it’s hard to beat the flexibility and other advantages found in coworking.
Visit our website for more information.
The above review statements are those of the sponsor (Source of content) and do not necessarily reflect the official policy, position or views of the content publisher. The content distribution company is therefore not responsible for the content and its authenticity and legal standing of the above subject matter. Each individual is required to exercise its content when making a purchase from the above offer. The information does not constitute advice or an offer to buy. Any purchase made from the above press release is made at your own risk. Consult an expert advisor/health and professional advisor before any such purchase. Any purchase made from this link is subject to the final terms and conditions of the website's selling as mentioned in the above as source. The content publisher and its downstream distribution partners do not take any responsibility directly or indirectly. If you have any complaints or copyright issues related to this article, kindly contact the company this news is about.
DISCLAIMER of Liability. IN NO EVENT SHALL OUR PR COMPANY BE LIABLE OR RESPONSIBLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES OF ANY KIND, INCLUDING WITHOUT LIMITATION, LOST PROFITS OR LOST OPPORTUNITIES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES IN ADVANCE AND REGARDLESS OF THE CAUSE OF ACTION UPON WHICH ANY SUCH CLAIM IS BASED, INCLUDING, WITHOUT LIMITATION, ANY CLAIM ARISING OUT OF OR IN CONNECTION WITH ANY OF THE CONTENT, INCLUDING, WITHOUT LIMITATION, AUDIO, PHOTOGRAPHS, AND VIDEOS, OR OF THE ACCURACY, RELIABILITY, OR LEGALITY OF ANY STATEMENT MADE IN OR OMITTED FROM ANY advertisement, sponsorship, endorsement, testimonial, opinion, or other product-related or service-related statement or review appearing in the Websites or in ANY post or article distributed via the Websites.