Do you ever feel like you’re throwing money down the drain with the many additional expenses your company requires like furnishings, buildouts, infrastructure, utilities, reception, etc.? Are you tired of paying 100% of the costs for services you only use a fraction of the time?
The new year is the perfect time for a fresh start… for your wallet, that is. Stop throwing away money and thinking “there must be an easier way!” when it comes to running your business. Well, there is an easier way! A shared office space saves you time, energy and most importantly money, while still allowing you the privacy your business requires. Read on to learn the top six reasons you should make the switch from traditional space to a shared workspace environment in 2018!
Your Bottom Line
The number one reason to make the switch from traditional to shared space is your bottom line. It is no secret that shared space equals shared expenses, but this does not always mean that everything is shared. Renting a dedicated, full-time office or a private suite within a shared workspace maintains privacy and still allows you to benefit from the cost-sharing model of the communal areas and infrastructure.
As a small-to-medium sized business owner, you know that every single expense (or savings) can make a world of difference! Research has shown that on average, the typical shared space user saves roughly 55-70% more money than the traditional space user per year. That ranges between $35,000.00 and $65,000.00 in savings per year!
Productivity and Efficiency
Get more productive work done! Shift your focus from managing infrastructure, utilities, a reception staff, maintenance of your space and tedious administrative work to what really matters for your business. Focus on your performance and growth as a company rather than the time-consuming busy work that your shared office space staff will handle on your behalf. Remember—time is money!
Access to More Space Without the Costs
A large office space with a private conference room, lounge and communal space that often sits empty for an exorbitant monthly rate, extra fees and a long-term commitment, or settling for a home office and an occasional trip to the coffee shop with no access to meeting rooms or professional amenities for a much more affordable rate? You should not be forced to pick between the two! Either way, you will likely be in a situation that you find lacking for your business success.
The best solution is to avoid this decision altogether. Choose an office space that includes complimentary hours of conference room use per month with the added bonus of communal areas for connecting with like-minded professionals with a flexible lease term that is comfortable for you, whether it be for three months or three years. With a shared office space solution, you will have access to thousands of square feet of space without the expense of leasing the space full-time or the commitment to the space for several years as required in most traditional leases. You will have the optimum amount of office space, communal areas for quick gatherings and private conference rooms when you need them. No need to pack up and head to another space or gather around a tiny desk and bump knees with coworkers! Shared workspaces give you the best of both worlds under one roof at an affordable price point.
Support Staff Minus the Expense of a Salary
Just because you are a smaller business doesn’t mean you don’t deserve big business amenities! With a serviced office space, you save money with included reception services and a support team at your disposal. There should be personalized phone answering, mail receiving and a professional front desk presence for visitors and clients. The trusted staff also works to keep the spaces clean and running smoothly- all you need to do is show up! Services that could be unaffordable for a small company are included in your monthly rate when you switch to a serviced office space!
Service While You’re Away
A shared office space provider delivers ongoing, reliable services to allow your company to run smoothly under all circumstances. During holidays or vacations, it is easy to feel guilty about leaving work or paying for services you aren’t using while people are away. With a shared office space, you pay one consistent rate that encompass all services that will continue to perform even in your absence.
Professional staff will collect and forward your mail as needed, answer your calls and ensure that the condition of your office stays in tip-top shape. In a traditional office, it is solely up to you to manage utilities, mail collection, call answering and more – leaving little room to truly enjoy stress-free time away.
Sense of Community
Being part of a solo or small business can feel… well… small. When there are only a few people on your team, it can be difficult to branch out. In a shared office space, your internal community transitions into an integral part of a larger community.
Shared office spaces provide the opportunity to engage and network with others, whether by the coffee machine or at a community event. Make the most of this experience by selecting a space comprised of like-minded individuals and businesses that you can connect with to help you grow. You will gain new contacts and great neighbors while bolstering your professional brand.
For more reasons to make the switch to a shared office space environment, check out these posts:
- Shared Office Space Supports a Healthy Lifestyle
- Managing Negative Cash Flows Through Shared Office Space
- Keep Your Options Open with Flexible Shared Workspaces
Successfully operating for 30 years, AdvantEdge Workspaces is Washington, D.C.’s premier shared office space provider. We operate as a serviced and shared office space provider as described above, and can customize a solution that works best for your business. Our trusted staff provides a first-class experience for every client. Our community, professional environment and big-business amenities make us the perfect solution for those trying to escape the traditional office space contingencies! Click here to learn more about what we can do to help you save money in the new year!