Advantages of Using a Co-working Space
For new entrepreneurs who have just entered into business and are struggling to make it big, the best and the cheapest option for a workspace may be their homes. But using your home as your workplace comes with its own disadvantages. When homes are used as office spaces, you will see that the distractions of your home would disturb you and there will be issues pertaining to space. Expansion won’t be a possibility at your home, and lack of any formal or informal interaction will take a toll on your professional front.
But getting your own professional office may not be that affordable for small business, which is exactly why the concept of co-working offices has been trending. It can work for your business too, the reasons for which we are sharing below-
• Cost Effective
A company would save 15-20 percent annually while choosing to work in a co-working space compared to the expenses incurred in traditional office space according to. Most of these offices work on a membership basis, where you are expected to pay for your membership, after which the details on the rent are decided. The thing here is that you don’t have to incur the expenses on real estate, and as you’re tenting a smaller office space, it works out cheaply for you.
• More Professional Office in Prime Location
Having the own office in a prime business centre is every businessman’s dream. But let us consider an example first. The real estate pricing according to the market conditions is expensive in Bangalore, Jayanagar. But the Business centers in Bangalore, especially in Jayanagar is a great place to set up your new business, specially for small and medium business and individual professionals. What makes it special and preferable is its affordable price range with all the basic amenities required for the smooth run of business operations, even though the market pricing is not easily affordable in that particular area. That is why businesses find it beneficial to have a co-working office space, as they provide you with a professional workspace at a prime location, adhering to locational benefits while making things affordable for you.
Today, the cost of moving your whole office setup from one place to another involves a lot of jargons, and it is no way cost effective. People who have established their new business certainly don’t want to incur such costs. But when you are going to make use of a serviced office, you will see that many times you can easily scale up and down the size of office space for you. This is quite a major benefit, as this will help you in saving a lot of unnecessary expense, while also saving you from all the jargons involved in it.
• Getting Certain Amenities for Free
Another advantage of having a serviced office is that you will get certain amenities for free. Where in your own office, you will have to incur costs on things such as office supplies, basic utilities such as drinking water, meeting and conference rooms, and the internet. But with these new conceptual offices, you will find that all these things have actually been included in your office plan, and no additional cost has to be incurred on them from your side. This helps you in saving a good amount of money.
• Flexible Payment
If you’re renting a traditional office space, one way because of which you have such high costs of offices is because of non-flexibility of payment. Mostly, you will have to rent the whole place, even if you don’t need all of it, and you will have to rent it for a specific period, which might range from some months to a few years. This locks in a lot of your funds and increases your costs exponentially. But with co-working offices, you get the benefit of paying your rent monthly, and also, as you make progress, you can choose a better plan for yourself, in which you can scale the size of your office up or down according to your need. Your funds will never be locked here.
While all these above points give a good idea about the benefits of having such an office space, many small businesses have been using these spaces as a workspace. Perceive professionals with new skills and create your own network with them, find new options for career enhancement, keep in touch with advanced technology. Expand your network and be set to maximize the reach of your business.