Co-Working Space: 5 Reasons Why It Works
Are you thinking of starting your own business?
Perhaps it’s a passion project you’re finally ready to give more time to.
Whatever your entrepreneurial aspirations are propelling you towards, leasing space to make your dream a reality can be challenging.
But what if there’s an alternative way of renting space? What if you’re a massage therapist merely looking for a massage room for rent and not much else?
Or a medical practitioner only looking for a consulting room for rent?
Surely there should be space you can use hourly, daily or on a monthly bases only. Right?
One of the biggest obstacles entrepreneurs face when starting a business is the high cost of leasing office space.
It cuts deep into your overheads and can cause your business to sink before it has even started.
Leasing space is simply not flexible enough to help small businesses thrive.
The good news is, there’s an alternative way to run your business successfully. The traditional way of leasing space and being tied up in long-term contracts are over.
You now have the option to rent space in a professional setting located in a central place.
The service is designed to suit your business needs. If you only need a meeting room for an hour or two, then that’s exactly what you’ll get.
If it’s space for something else, they’ll accommodate you. Below are more reasons why co-working space is the way to go.
It’s Cost-Effective
Costs are always an issue if you’re running a business. Keeping expenses as low as possible allows you to earn better profits.
The flexibility of renting office space only when you need it saves you monthly rental expenses.
In the past you were obligated to pay rent even if you didn’t use the space all the time, now you pay only for the time you use the space.
You’ll also escape the initial startup cost of setting up an office with expensive furniture and tech-infrastructure.
Using co-working space allows you to walk into an office that’s set up and ready to use.
Priceless Networking Opportunities
- Freelancers: You’ll meet many like-minded individuals in the co-working space. Freelancers love this environment as it allows you to network with other businesses. You have the opportunity to synergize and expand your business interests.
- Events: The coordinators of shared office space usually arrange monthly events for all their clients to meet and network. This platform is both educational and at no cost to you.
- Referrals: Word of mouth is still one of the strongest advertising mediums. You’re likely to receive referrals that’ll grow your business. The coordinators constantly scan through their client base for collaboration opportunities.
- Promotional items: You can speak to the coordinators at the shared office space and enquire if you can provide helpful promotional items to their other clients. This will get your brand out there without spending a fortune on advertising.
Creative Surroundings
The co-working space is designed to inspire you and get your creative juices flowing. The surroundings are strategically decorated to create a professional setting that’s inviting.
Only the highest quality furniture and accessories are chosen to provide an aesthetically pleasing environment for you & your customers.
State of the art technology is also available at your fingertips. You’ll have all the latest gadgets to run your business successfully.
Diverse People
The benefit of rubbing shoulders with people who look, sound and think differently to you is priceless.
They can inspire you and open your mind to new ideas. Here are some more benefits:
- You’ll meet people from different backgrounds, ethnicity, and race
- Engaging with unique personalities can expand your outlook
- The novelty of meeting new people all the time will never wear off
- Working with diverse people fosters an environment of collaboration
Central Location
As a small business startup or freelancer, it’s not always possible to get the best location due to limited funds, therefor consider medical office space for rent.
Using shared office space gives you the benefit of a top location without the high cost if you owned the building.
One of the key aspects the creators of co-working space pride themselves in is the ability to secure prime real estate.
They understand the importance of having a convenient central location.
Working from a central base that can be accessed via public transport and other modes of transport makes it attractive & affordable.
Feeling safe when you’re working is also an important factor when selecting office space, and you can usually expect exceptional security features.
Final Thoughts
There’s no denying co-working space makes better financial sense than conventional ways of utilizing space.
Of course, there are limitations to what you can do in a shared office environment. For one, you won’t have much input into how the place is decorated.
Secondly, you might have to delay the immense satisfaction of owning your building.
These are small sacrifices to make when comparing it to the immense gains of renting co-working space.
The convenience of stepping into a space created to make your business thrive is appealing.
Locate your nearest co-working space today and find out how they can help your business thrive.
