How Coworking Spaces Save Your Business Money?

Are you a freelancer, digital nomad, or someone who works from home or café?

Yes? Well, at some point, a café, garage or home no longer cut as a workspace and coworking space could be your next step.

What Is A Coworking Space?

Coworking space is an informal room sharing arrangement where work and businesses are based on the sharing of common ideas between its participants. This space involves both, individuals working independently and collaboratively.

It is a lot more four walls, desks, and a stable internet connection. As you start working there, you interact with like-minded people; enjoy an interactive work environment, have a better work-life balance.

Coworking spaces are becoming popular every day and can be now found all over the world. According to global coworking spaces forecast, the number of these spaces will be over 30,000 in 2022, and members are expected to be around 3.8 million by 2020 and 5.1 million in 2022.

The popularity of these spaces is undeniable. But how does a coworking space benefit you? Does it help you save money and make more revenue, or only space works for you? Continue reading.

How Shared or Coworking Space Saves You Money?

While it acts as a necessary foundation to establish your business, here is how it provides you with monetary benefits:

 

  • Coworking Spaces Are Already Furnished

 

It is no surprise that furnishing an office is expensive. Not only, you have to invest money for it, but a lot of effort is also invested, which otherwise are saved by opting for co-working spaces.

When you leverage a coworking space, arranging chairs, tables, filing cabinets, drawers, and more is not your part of the job. Some space providers even customize the area on your request.

 

  • You Save on Amenities Cost

 

If compared to the traditional office space, you only pay for the desk space that you need in the entire workspace. All the amenities in the coworking space like break rooms, meeting rooms, and kitchens are communal and work on the model of shared use of resources.

However, if you plan to offer coworking space service, the office space for rent Ottawa also works as a great option. A 2018 research published on Building Design + Construction found that 72% of landlords agreed that co-working operators with a strong brand have benefits for their development.

Saves Your Time

Time is money, and it goes without saying!

Whether you own a small or medium sized business, startup, or work as a freelancer, the vendor, lease, and network issues will not eat into your time. Neither your pocket!

Provides You with Flexible Spaces

New startups are not sure when they will grow or need an extended foot area. So, if you rent a larger space, you will end up paying for the entire contract, regardless of your team size.

But a coworking space takes off this worry. You will only have to pay for the desk space or foot area, which you are going to use initially and the owner will let you use a larger area when your company grows.

Apart from saving you money, other factors that drive its popularity include flexibility in usage of space, economic benefits, networking opportunities, the presence of in-house staff such as administrative team, improved time management, professional setting, and lot more.

A Harvard Business Review research also found, 89% of people reported that they are happy, since they have joined a workspace.

Conclusion

If we look back, coworking was considered to be a trend, which many of us believe would fade away. But with new benefits emerging every day, it is coming up as a global phenomenon. They are giving independent businesses a whole new innovative work-life approach and owners are also adapting it.

With this, we can say that coworking spaces are here to stay, and its growth possibilities are endless.