Does a Coworking Space actually save Startups’ or Freelancers’ money?

Coworking Spaces for Startups and Freelancers

The concept of a coworking space is very simple; you share the workspace with other people. The idea of working in a common place has excited and attracted many freelancers and startups in the beginning and now even corporations take advantage of it. Why? 

A flexible office relieves members from the financial burden of buying, renting and maintaining an office space. The long leases and heavy security deposits have been a load especially on small businesses but if you choose you share the space, you share the cost and this alleviates you from being broke.

A coworking space for startups and freelancers would have everything they could need. Desks, chairs, printer, scanner, internet, cafeteria and support staff will always be there to make like at work simple. As much as it’s great for an individual, a team can also enjoy the benefits of shared space as you get can the seats for everyone. 

Just like the internet, the support staff and the furniture, the utility bills are also included in the membership fee which means you have to worry about nothing. Just get your belongings and get started. This makes coworking a logical solution to freelancers and small ventures that aim big but have limited funds. The plug & play offices are also known to boost your productivity. The like-minded people working around you inspire you to do more and get better. Also, a nicely decorated office is a treat to the eyes and the mind. It also leaves a good impact on your visitors (clients/candidates) as opposed to the traditional spaces that can sometimes be an eyesore. Not to forget the socializing opportunity the members get; everyone can make good business connections and grow their network.

Amongst all the advantages, cost-saving tops the chart. A coworking space for startups and freelancers could save them a lot of money in many ways. Let’s check how:

Pay for what you use: Billing in a flexible office is straightforward. You pay for the service you use. You can hire the meeting room on an hourly basis and pay for every hour. Need work desk for a day? Pay only for that. There is nothing extra for the internet, printer, coffee, electricity or whatsoever. While traditional spaces charge you on the floor prices, here you pay only per person per desk.

Minimal overhead costs: While in a conventional office space you would be paying for the furniture, décor, repairs, cleaning staff, water cooler, coffee machine and every small thing, in a coworking space you only pay one time and get started. You will instead be supported with everything you need rather than having to pay for little things. People sharing space will share the costs too.

Customization in the budget: If you need a fancy workplace at home, you would need to pay extra for everything. The sourcing of things and installation too would cost a lot. In a shared office space, you’ll find an office space you always wanted without having to spend a fortune. You’ll also get the perfect work environment that you can never get at home.

Scalability is flexible: Companies strive to grow and expand. An entrepreneur would aim to have more work and a bigger team. In a situation where the team size needs to be bigger, a conventional office can cause hassles in terms of space. But in a coworking space. You need to worry about nothing. The expanding office will not mean incurring more cost and the extra seats can be added at a much lesser cost compared to buying a new space altogether.

Networking: Business owners would agree that they need to attend events and seminars to interact with people in the industry and build a professional network. All these events charge for entry and tickets. However, this cost can be avoided when you are in a coworking space. Shared offices are known to arrange events and sessions for their members where everyone gets a chance to interact and form connections. People often connect near the coffee machine and during lunch hours with small talks as well.

Internet: However little it may seem but the internet is an expense in itself. When you are a dedicated freelancer or a small business, you need high-speed internet that causes the least disturbances while you work. Some jobs can’t afford to lose connections at work and for such service, a huge sum is charged by the internet providers. But in a flexible office space, you have nothing extra to pay. Everyone gets high-speed Wi-Fi for smooth working. 

No agent fee: unlike in a conventional office space where you generally need a broker/property agent to get you a proper workspace, you need no middlemen if you want to join a shared space. A coworking space for startups and freelancers who work on the first come first serve basis where you can directly walk in, choose a plan, pay the amount and get started.

Amenities: The greatest advantage of being at a managed office is that everything is all inclusive. The internet, electricity, furniture, game room, food, coffee, printer, scanner, biometric machine, meeting room, events, the cleaning staff and the reception assistance are a part of the membership plan whichever you choose. Therefore, nothing extra. This would have been an additional burden in a traditional office that is managed by the tenant.

Furniture: Just like everything else, the furniture, the décor, the gaming, the sleeping pod and everything that adorns the place is on the space provider only. You don’t have to spend anything to make your workplace look classy, lavish and tidy but rather enjoy the modern interiors and beautiful corners.

All of the above-mentioned costs are borne by the business owner in case of renting/buying a space. All of these costs, when saved, can add to a huge sum which, if saved, can be a big amount that a business can use in assets or other investments.

A coworking space for startups and freelancers understands the shortage of funds and the importance of every penny when you don’t have it in abundance and hence, offers all the services at a cost within the means. From an individual freelancer to a big team, anyone and everyone can take advantage of a shared workspace.

Looking forward to saving money? Contact Let’s Connect Coworking and get started with us!