How a Coworking Space Can Help You Save Money
Are you looking to cut costs in your business? Or maybe you’re just starting out and don’t have the funds to rent your own office space yet. In this article we’re going to look at the financial savings that can be made by utilising a coworking space.
Cutting Operational Costs
Rent:
Always the hardest hitter in terms of outgoings. Many businesses might feel that having a permanent office space is essential from the get-go. This isn’t always the case, especially if your budget it tight. That money can be better spent elsewhere getting your business set up and established.
Consider instead renting an office, meeting space, or a few desks in a coworking space to significantly cut costs. Coworking spaces are much more economical and budget friendly.
Most coworking spaces can offer the following options:
• Hot desks
• Fixed desks
• Meeting rooms
• Virtual addresses
• Private offices
Utility Bills
Utility bills in a standard office can be a burden. Electricity, water, Wi-Fi, insurance – it all adds up fast. Unfortunately, this isn’t an expense that’s easy to cut down on, unless your employees are all happy to work in the dark with no running water. Using a coworking space means that utility bills are already covered in the space usage fee.
Repair and Maintenance Costs:
Everything wears down over time and eventually needs maintenance or to be repaired. When paying for an office space these costs could be the difference that makes or breaks your month. A coworking space means any maintenance will be covered for you.
Furniture:
If you’ve ever looked up the price of an ergonomic office chair, you’ll know that office furniture does not come cheap; or if it does, it certainly won’t be comfortable.
Coworking spaces can offer completely furnished private offices and communal areas such as the kitchen and rest areas. Enjoy ergonomic furniture, fancy coffee machines, and meeting equipment such as whiteboards, charts, screens, and projectors.
Additional Costs and Saving Opportunities
Scalability and Expansion
If you’re a start-up business, you might hire yourself out a small office. But if you experience quick expansion, you might grow out of this space quickly and have to break out of a lease and hunt for a new office. Alternatively, you might opt for a bigger space to start and find that expansion doesn’t come as quick as you hoped for, so you find yourself paying a large amount on rent for a space you don’t fully utilise and therefore have an unnecessarily large overhead.
A coworking space can alleviate this issue; simply rent as many desks as you need. If your team expands, you just add to the number of desks you rent, rather than having to move your whole operation. No more overcommitting or being under-prepared.
Only Paying For What You Need:
Many businesses are ditching the 9-5, 5 days a week in office model. Your team might work remotely and only need to meet face-to-face once a week or even just twice a month. Rather than trying to cram around a table in a coffee shop for these meetings, a coworking space allows you to just pay for what you need.
At Dash Spaces, we offer Day Passes so you can just book the days that you team needs. Our meeting room spaces can be booked in hourly packages ranging from just 1 hour to the full day for ultimately flexibility. To find out more about our spaces available to you and your team, click here.
Choosing a coworking space over a permanent traditional office can help you and your business cut costs significantly. Coworking spaces have the benefit of offering different workspace solutions to solve different needs. Why invest in pricey equipment such as a complex office printer that you only use twice a month when you can utilise the printing facilities that a coworking space has for a fraction of the cost?